Page 27 - Marky Stein - Fearless Career Change_ The Fast Track to Success in a New Field (2004)

Overcoming Your Fears

ployment and perhaps training between jobs. Most people have
considerably less anxiety when they are going through this process
with the cushion of a little money in the bank. Typically three
months’ salary would be the bare minimum to have before chang-
ing careers, although many people who haven’t had more than a
penny saved have had smooth transitions to a new career.
To determine how much you’ll need to feel comfortable, let’s
build what I call a transition income. Take a moment to think about
the necessities in your life, and distinguish them from your prefer-
ences. Necessities are things you absolutely must have for shelter,
nutrition, health, sanity, and other basic needs.

Some examples of necessities for many of us are:

• Rent • Home maintenance and
•Mortgage repair
•Food • Child care
• Furniture • Elder care
• Automobile insurance • Gas and electric service
•Vehicle maintenance • An “emergency fund”
and repair • Debt consolidation
• Pet care • Money for gifts and
• Medical and dental holidays
care • Retirement savings or
• Phone investments
•Transportation •Tithing to your church or
temple
•Taxes
• And whatever else you
• Cell phone
need to feel comfortable
• Some degree of social
and entertainment
activities

Preferences are things that enhance your lifestyle—goodies like
cable or satellite TV, a state-of-the-art home entertainment system,
one or more luxury cars, extensive travel, preventive health care,
a housekeeper, a gardener or landscaper, a vast CD or DVD col-
lection, a handsome wardrobe, a gym membership, charitable

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