Financial Life Planning: Is Going Back to School Worth it for Advancing Your Career?

Are you stuck in a career or workplace you don’t love? If so, the decision to quit your job and go back to school has likely crossed your mind more than once. While this can be a good option for many, it’s important to carefully weigh this decision and its effect on your financial life planning process before enrolling in any course or program. We found this recent article from The Canadian Press on the subject interesting and thought we would cover a few highlights we found significant.

Financial Life Planning: Is Going Back to School Worth it for Advancing Your Career?

A lot of benefits can result from going back to school when you’re already invested in a career, especially if you are trying to set yourself apart from other professionals in your industry. And if accelerating your career growth is your goal, furthering your education can help you make this happen.  Ultimately, going back to school can give you some hard skills you can apply to your job and help you get to that next level faster than if you relied on work experience alone.

At the same time, you need to consider the level of investment pursuing higher education will deliver and how it will affect your financial life planning process. This will mainly depend on your field of choice, so you should talk to people in that field about what to expect for future salary, overall work culture, and work-life balance.

There are many other factors to take into account (covered in the article linked above), which you should consider before deciding if going back to school is the right choice for your career goals and overall financial life plan. If you are looking for other assistance with financial life planning, reach out to us, and we would be happy to help.

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