Career
You may have spent several years training or on your education to find the perfect career. Have you questioned the decisions you made? Did you pick the right job? Are you still finding fulfillment with this career choice? Is there still room for advancement? Have you been planning for retirement and saving enough money for your future? All questions you might encounter at this stage in your life. Below are some common concerns encountered involving career choices in middle adulthood.
Instability
In recent years, a person's age has become a workplace factor more than ever. According to research, approximately 64% of age 50-plus workers feel that age discrimination occurs today. (Choi-Allum, 2022). Age discrimination can manifest in the hiring process as skilled middle-aged adults seek employment and deal with questions associated with their date of birth or graduation date. It can further impact already employed middle-aged adults seeking career advancement, but younger employees may be a more cost-effective option. Age discrimination has also been shown to be a genuine concern regarding job security. Studies show that 24% of adults aged 45-74 felt their jobs were in jeopardy in the following year. (Moen, 2016). All these factors can create difficult choices and feelings of anxiety, stress, and depression.
Another source of workplace instability is the "glass ceiling" effect. Women in the workplace feel that they encounter a glass ceiling and are twice as likely as their male counterparts to quit their jobs in larger corporations. (Barreto et al., 2009). A glass ceiling is an invisible barrier that prevents people from advancing regardless of their qualifications and achievements. This type of workplace behavior can lead to stress, frustration, and isolation among employees.
You are not alone in facing these difficult obstacles in life. To help with overcoming these challenging emotions, head over to our Healthy Coping page for services and advice.
Retirement Planning
Current trends in retirement show that the average age of retirement is 65. (Palm, 2023). Several factors influence an individual's decision to retire. One of these factors is Social Security. Social Security benefits fluctuate based on several factors, such as the year you were born, the age at which you wish to retire, and how much money you made during a certain number of years. Essentially, the longer you wait to collect benefits, the more the amount will increase. Health insurance, such as Medicare, also doesn't apply until one reaches the age of 65. (Palm, 2023).
Several companies have done away with pensions over the years and offered various investment incentives, such as 401 (k) and 457 plans. These incentives allow employees to build their own investment portfolios with pre-tax contributions from their paychecks. Some companies even offer matching incentives up to a certain percentage amount. The value of these accounts will fluctuate based on the current market and economy. Many workers contemplating retirement have continued to work due to the absence of a pension plan or reduced savings. (Palm, 2023). Early withdrawals for health care costs can also deplete the value of savings or support a child's education fund. All these factors create significant life-altering concerns. People experience severe levels of stress, anxiety, depression, guilt, and even suicidal ideation.
These feelings are nothing to be ashamed of. These are complex challenges to face in life. To help with these challenging emotions and struggles, head over to our Healthy Coping page for services and advice.
Job Satisfaction / Burnout
Job satisfaction can cause a significantly different feeling in each individual. Job satisfaction refers to your level of happiness with going to work each day and doing your job. Burnout is also a significant factor in an individual's level of career happiness. Burnout is defined as unsuccessfully managed workplace stress. (World Health Organization, 2019). Burnout can include feelings of exhaustion, job negativity or cynicism, or reduced professional effectiveness. (Palm, 2023). Other factors to consider are an individual's level of ambition and motivation towards their job. What are the factors causing these changes? Have they always existed, or did a significant change occur that caused any of these factors? Some of the feelings people associate with job satisfaction include exhaustion, depression, stress, and frustration.
These are all feelings people experience regarding their job satisfaction. To assist with these challenging emotions and challenges, head over to our Healthy Coping page for services and advice.
Finances
A significant concern for many middle-aged adults is coping with financial issues. As stated above in retirement planning, middle-aged adults factor in their retirement savings when looking at their financial future. Do we have enough money in our savings and retirement funds to retire when we planned? One's salary is also an essential factor regarding finances. Generally, a middle-aged adult is making a higher salary at this stage of life. This doesn't mean there are no challenges. With higher salaries comes more spending. The cost of everyday expenses has risen significantly, along with housing and vehicle costs, creating more debt. 55% of adults experienced some form of workplace problem, such as reduced hours, pay cuts, or a switch from full-time to part-time. (Baird, 2019). Balancing debt in your finances can be an overwhelming challenge. This daunting challenge can cause people to suffer from severe anxiety, stress, depression, frustration, and suicidal ideation.
These feelings are not uncommon during this difficult time. To assist you in navigating these emotional challenges, head over to our Healthy Coping page for services and advice.
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