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Little may feel more frustrating and draining than working a job you hate. Leaving your current job might seem like an immediate solution, perhaps the only solution toward ending your daily drudgery. However, changing careers, especially during an economic downturn, might not always be the best option. After all, as Allison Green said in U.S. News and World Report at the beginning of this long and drawn out recession, “Switching jobs is always a risk, even in the best of economic times.”

An Honest and Personal Look at What’s Bothering You

To find out if it’s time to change careers, you’re going to have to be honest with yourself. Consider each of the specific factors about your current job you don’t like. If you don’t, you could change careers only to find yourself dealing with similar issues at your new job. For example, if you hate the fact that your supervisor doesn’t make herself available to meet with you, but you think the problem is colleagues who don’t socialize with you much, you could change jobs and still be unhappy.

Even with the risks, there are great rewards associated with changing careers: you could regain your enthusiasm, establish rewarding relationships with new colleagues, gain stronger work skills, and position yourself for promotions.

Signs It’s Time to Change Careers

Sometimes, the conditions at a company make it imperative that you change. There are some general signs that might reveal it’s time to switch careers. Among them:

• Your employer is experiencing significant financial struggles, perhaps on the verge of filing bankruptcy
• More and more jobs in your industry are moving offshore
• Job outlook reports created by reputable agencies like the United States Department of Labor indicate that jobs in your career are declining
• After attending training programs, workshops, speaking with a counselor and participating in a mentoring program, you still dread coming to work

Restoring Your Passions with a New Career

If anything in the previous sections rings a bell, it’s time to make your getaway. But bide your time. You don’t want to jump ship and lose a paycheck on a whim. Take your time and find that perfect job in order to make a smooth transition from one organization to another without any financial hardship.

To increase the chances that you’ll love your new career, consider your passions. Look for careers that help you fulfill your personal and life goals. After all, as Mark Quinn shares on Business Insider, you don’t want to travel to work and walk the halls just to get a paycheck. Transitioning into careers that allow you to do work you absolutely love, work you’d love doing for free, will restore your passion.

Quinn also says, “People who love what they do inject passion into the work, which often means they succeed at higher levels.” This passion can be seen by others, including new supervisors you work with. Passion for your new career can also give you the energy to generate new ideas and connect more deeply with clients and colleagues.

Rhonda Campbell, an East Coast journalist, is the owner of Off The Shelf radio and publisher of the books, Long Walk Up and Love Pour Over Me.

The warning signs that your job is probably not for you could come as a subtle whisper or a loud, boisterous roar. It might be difficult to admit, even to yourself, when your well-paying, stable job just might not meet your needs as a professional. There is no need to be ashamed of leaving a job for one that will utilize your skills, have opportunities for advancement and reflect your professional and personal beliefs.

If you have been questioning the relationship between you and your career lately and feel like the spark may finally be gone, these signs might assure you that it’s probably that time to tell that current job, “I’m just not that into you.”

(Black Enterprise) — When you leave your job, whether its voluntary or not, you’ll have to make some important decisions about what to do with your401(k).Should you roll it over? Get an IRA? Leave it alone? Cash it out? Antwone Harris, a certified financial planner with Charles Schwab in Washington, D.C., says there are four options.

Option 1: Roll the money into your new employers plan.  If your new employer accepts your previous employer’s 401(k) plan you can simply roll it over. There are no taxes or penalties to do so and the money continues to grow tax deferred.

Myth Buster: Your new employer and previous employer do not have to do business with the same brokerage firm in order to accept the rollover.

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(Forbes) — The truth is when you lose a job, are looking for a new one or changing careers, it’s critical that you pay attention to the tax implications. So here goes, a little bell ringing, if you’re in the midst of preparing your 2010 return… or keeping track for your 2011 filing for that matter. I highly recommend, of course, you go to the IRS site for in-depth help and depending in your situation, consult a tax professional.  In the meantime, if your work life was in transition last year, here are some tax prep reminders:

1. Severance pay is taxable. If you accepted a severance package and benefits when you parted ways with your former employer, or were paid for unused vacation and sick leave, that’s considered taxable income. If you expect these payouts in 2011, be sure enough taxes are withheld from these payments, or make estimated payments. See IRS Publication 17, Your Federal Income Tax, for more information.

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