By Lorie Jones, Fearless Financial Advisors
I need to tell you something nobody told me when I was starting out: every career transition is actually a financial transition. And yet, when women make big career moves, whether by choice or by circumstance, the financial planning conversation almost never happens first.
That changes today.
The “Second Act” Is No Longer Optional
Here’s the reality: according to a 2022 LinkedIn survey, women are 20% more likely than men to switch industries entirely. And a 2023 CIPD report found that 2 million people in the UK alone changed careers in a single year. The days of the 40-year career at one company? They’re gone. But here’s what’s not gone: the financial consequences of not planning for that shift.
57% of workers say financial security is the #1 reason they DON’T change careers
Source: CIPD Career Change Report, 2023
Let that sink in. More than half of people who want to make a career move are held back by financial fear, not lack of talent, not lack of ambition. Fear.
I see this on my Fearless Females podcast constantly. Brilliant women saying, I stayed way too long in a place where I wasn’t valued, supported or developed because it was the “safe” choice. So often they find out that taking that chance, being just the littlest bit fearless, changed their whole life for the better. I ask the question, “What would you do differently?” and often the answer is, I would have moved sooner. I stayed in that dead-end situation way too long.
These aren’t small concerns. They’re real, structural barriers. But they’re also solvable, if you plan for them.
Know What You Have (Before You Leap)
Before you hand in your resignation or pivot into entrepreneurship, you need a crystal-clear picture of where you stand financially. I call this your “Financial Inventory”, and it’s an exercise designed to help you better understand and organize your financial picture.
Here’s what that looks like:
- Map every account: 401(k), IRA, brokerage, savings, HSA. Know the balances, the vesting schedules, and any employer match you’d be walking away from. – If this sounds terrible, call in a superhero with a calculator and get your financial planner involved.
- Calculate your “runway”: How many months can you sustain your current lifestyle without a paycheck? (Hint: the answer should ideally be 6–12 months before making a big move.)
- Audit your insurance: Health, disability, life. Know what’s employer-sponsored vs. what you own independently.
- Understand your tax picture: A career change can shift your tax bracket, affect estimated payments, and change your deduction strategy entirely.
💡 Lorie’s Quick Tip
If you’re considering a career change, don’t wait until you’ve made the decision to look at your finances. Start the financial inventory NOW, while you still have the stability of your current role. Planning from a position of strength is always better than scrambling from a position of panic.
Break the Financial Silence
Here’s something that still shocks me: according to Nudge Global’s 2025 survey of over 11,500 employees across 17 countries, nearly twice as many women as men feel ashamed about their finances. A quarter of women rated their financial health as poor or very poor, compared to 18% of men.
And the physical toll? Thirty-one percent of women report sleep disruptions from financial stress. Twenty-four percent experience fatigue. Twenty-one percent get migraines.
This is not just a money problem. This is a health problem. And it’s fueled by silence.
When we don’t talk about money, with our partners, our friends, our financial advisors, we lose the ability to make informed decisions. I would also say, when we aren’t talking about this, we lose the opportunity to help someone else. I ask the question “What is one great financial decision you made?” and quite often, I get the advice that someone gave them very young to save or invest. If we are staying silent, we aren’t helping the next generation make better choices either.
A 2024 study found that 56% of women report deferring to their spouse on financial planning and investment decisions. That’s not partnership. That’s outsourcing your financial future.
Grow Consistently — Especially During Transitions
One of the biggest myths about career changes is that you have to “pause” your financial growth while you figure things out. Not true.
Here are three moves to keep your financial momentum going even when your career is in flux:
1. Don’t cash out your retirement accounts. I know it’s tempting. That 401(k) looks like a safety net. But early withdrawal penalties plus taxes can eat 30–40% of your balance. Roll it into an IRA instead. Your future self will thank you.
2. Negotiate your exit as carefully as your entrance. Severance, COBRA continuation, stock option exercise windows — these are all negotiable. And they can significantly influence your financial transition to what’s next.
3. Build your “side fund” before you need it. Even $200 a month into a high-yield savings account adds up. After a year, you’ve got $2,400+ in breathing room. It’s not about the amount; it’s about the habit.
Align with Your Values — Even in Uncertainty
Here’s the part nobody talks about: career transitions are deeply personal. You’re not just changing a job, you’re often redefining what matters to you.
I’ve sat with women who left six-figure corporate roles to launch nonprofits. Women who walked away from “prestigious” jobs that were making them miserable. Women who realized that their definition of success had evolved, and their financial plan needed to evolve with it.
That’s not reckless. That’s Fearless. And when you pair that courage with a solid financial strategy, it’s unstoppable.
Your Fearless Action Steps This Month
- Schedule a “Financial Inventory” session — with yourself or your advisor. Know your numbers before making any big moves.
- Have one honest money conversation this week. With your partner, a friend, a mentor. Break the silence.
- If you’re even thinking about a career shift, start your transition fund now. Even small amounts create momentum.
- Revisit your values. Ask yourself: does my current financial plan reflect who I’m becoming, not just who I was?
