Did you know that it's not unusual for Americans to change jobs and make career transitions several times in the course of a working lifetime? It's one of the dramatic changes that's occurred in the 21st Century job search marketplace. And you need to be prepared for it.



That means you have to have protection . . . on two fronts.

One is to have a "failsafe career." That's a comprehensive career plan that guarantees you're ready in advance for any job or career change that may come your way . . . whether voluntary or involuntary. Let's say you're shoved out of a job for whatever reason, unexpectedly. Having a carefully thought-out failsafe career plan gives you a lot of reassurance when you need it most.

There's another aspect of a career transition you should be aware of. Protect your financial assets when you make your move.

* Be sure you take your TAX-SHELTERED 401(k) ASSETS with you.

* DO NOT make the fatal mistake of cashing out your account when you switch jobs.

* DO NOT have your organization write you a check that you can immediately turn into cash.

* Consider the income taxes and fees you'll pay on the withdrawal.

For example, buying a car for $20,000 would require you to remove up to $30,000 from your account. That's $30,000 that won't be accruing interest toward your retirement.

On report states that 50% of job-changers, ages 20 to 29, cashed out instead of rolling over their money to a new account. Workers were more likely to cash out even if the had $500 or less in their 401(k).

Bad idea . . . you're losing money.

Take the opportunity to roll your money into an account with your new employer. Don't leave it with your old employer. Also, consider rolling your 401(k) into an IRA. These accounts have more investment options than an employer's 401(k) program.

Whatever your decision regarding your 401(k) options, remember you have other assets to consider. These are your personal job and career assets you carry with you at all times. They are as valuable as your financial assets. In fact, they're what make your financial assets possible.

Your financial plans are between you and your financial advisor. But don't forget to discover how to make your personal career assets work for you. They're an important part of your career transistion. Develop them properly and they'll guarantee your financial assets and your success in the job marketplace.