Is it ever too late to start again?
Making a career change, or pivoting towards a new interest in life, has pros and cons.
At 55, Cate Blanchett – one of Australia’s most acclaimed actors – has announced that she is “serious” about stepping away from acting to explore other aspects of life.
Despite a career spanning over three decades, with two Oscars and many other international accolades, Blanchett says she wants to pursue different interests beyond the stage and screen.
The star of Elizabeth, The Aviator, and the Lord of the Rings and The Hobbit trilogies, among many other hit films and acclaimed theatre productions, said her family often dismisses her retirement talk. But she insists she means it.
Blanchett’s potential career pivot is not an isolated case. Many people have made significant career changes later in life, embracing new paths that align more closely with their evolving passions and values.
You don’t have to be rich and famous to decide to try something new, but you do have to keep in mind that all life-changing decisions come with pros and cons.
The upsides include:
Renewed purpose and passion: Transitioning to a new career can reignite enthusiasm and provide a sense of purpose.
Leveraging life experience: Older people can bring a wealth of experience and transferable skills to new ventures.
Personal fulfillment: Pursuing a long-held dream can lead to personal satisfaction. Colonel Harland Sanders franchised Kentucky Fried Chicken in his 60s, turning his passion for cooking into a global enterprise.
Among the downsides are:
Financial uncertainty: Starting anew can come with financial risks, especially if the new path requires additional education or offers lower initial income.
Ageism and bias: Older people may face societal biases that can affect hiring decisions or acceptance in new industries.
Emotional challenges: Leaving a long-established career can lead to identity struggles and uncertainty about the future.
Is the reward of making a later-in-life pivot worth it? Well, only you can decide what’s in your own interests – but do so with your eyes wide open and, especially if it involves financial risk, after receiving professional and tailored advice.
But, of course, we’re not just talking career decisions here; this can also be about the way you choose to live your life and shaking up your daily routines.
Finding new interests and hobbies can give you a new lease on life no matter what stage you are at – or how famous you are.
Related reading: ABC, Business Insider, Muse
