This week on Careering with Kevin Cameron, we are joined by Todd Roselle, a good friend and founder of Blue Rock Financial Group. Todd shares incredible insight on the financial psychology and planning for career changes. Many clients approach Todd when they are moving towards being "more in control of their time" or simply face unplanned financial situations.

We dive into the critical importance of creating a personalized financial strategy that prepares you for any pivot. Todd emphasizes that money management is a constant thing, and stresses how a little planning can make a big difference in how soon you can leave an uncomfortable work situation. We talk about the biggest fear people have when considering a career transition, which is usually related to money. Todd gives tangible tips for mitigating the stress of job uncertainty and what to do when contemplating a significant professional change.

Key Takeaways

Financial Freedom is about building a buffer and designing your life to provide for your family, not just accumulating wealth.

The biggest financial fear during a career change is uncertainty, which can be overcome by planning for different "what if" scenarios.

Proactively saving into accessible accounts like a brokerage or cash reserve is a great way to be prepared for an unplanned layoff or period of transition.

Retirement Planning often involves coordinating tax strategy, investment allocation, and retirement income streams, especially when transitioning careers later in life.

Episode Highlights

The biggest tip Todd gives people around financial readiness for a job change.

The three buckets of money and where to save your accessible cash reserves.

Why the Affordable Care Act and COBRA are critical components of a career change plan.

The importance of thinking about your money consistently versus constantly.

Why people "get stuck" in their jobs and the role planning plays in finding freedom.

Timestamps

0:15: Why Todd is the perfect guest for a career conversation

2:40: The financial reality of unplanned career changes

6:35: The mindset shift needed for financial control

11:55: The biggest fear clients have when changing jobs

15:00: Where you should be putting your money now for career pivots

18:40: How to treat your savings like a "next door millionaire"

21:10: Health coverage options like COBRA and ACA

25:25: The psychology behind why people stay in jobs they don't love

30:10: How your network is your net worth in job searching

34:50: The two important timelines to remember for investments

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Production Credit: Edited and produced by @the32collective_ / https://www.the32collective.co/

Connect with Todd

bluerockfg.com Blue Rock Financial Group - Advisor & Planning Service