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Considering Bookkeeping as a Lifelong Career
Hello, everyone!
I understand there isn’t a definitive answer to the question I’m about to ask, but I’m curious to explore whether Bookkeeping might be a fitting career for me. I’m seeking advice and insights from those who have dedicated themselves to the field of Bookkeeping for some time.
My Story
I’m a young stay-at-home dad who has just completed a bachelor’s degree in business management. In the past, while working full-time, my wife was completing her education. Now, she has embarked on her career and serves as our primary breadwinner. She works full-time, but only a few days a week, allowing us to share homeschooling responsibilities for our kids on her workdays. I am eager to work as well; however, a regular 9-to-5, Monday-to-Friday job isn’t feasible for my situation. Thus, I’m open to work-from-home opportunities.
Exploring Bookkeeping
Given my circumstances and aspirations, my in-laws suggested bookkeeping might be an ideal path for me. With my business management background, I could gradually build my clientele, enjoy a flexible schedule, work as many hours as I choose from home, earn well, and potentially grow or start my own business. For context, my in-laws own an established Accounting tax practice and are both CPAs with a substantial client base, which is why they presented this option to me. They believe I have the aptitude for it and have even offered to mentor me now that tax season has concluded. Moreover, they frequently encounter clients seeking bookkeeping services and feel they could refer these clients to me. They’ve even discussed the possibility of expanding their business with an in-house bookkeeper.
My Concerns and Questions
My key question is: being young, should I consider embarking on a bookkeeping career? It seems to match many of my priorities, but I want reassurance that it’s a field where I can continuously grow in skills, knowledge, and earnings, providing a long and successful career. I have concerns about bookkeeping being replaced by AI, limitations in growth opportunities, or spending years in this career only to miss out on valuable experience elsewhere. Additionally, I’m not particularly interested in becoming a CPA. I want feedback from those with more experience to address some of these concerns and validate my apprehensions.
Thank you for reading this rather lengthy post and for any advice you can provide!
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One response
Is Bookkeeping a Good Lifelong Career?
Hello! It sounds like you are considering a significant decision and I appreciate the opportunity to weigh in on this. Bookkeeping can be a rewarding and flexible career choice, particularly given your current life situation and background. Let’s explore the potential benefits and considerations to help you determine if this is the right path for you.
Benefits of a Career in Bookkeeping
1. Flexibility:
– Bookkeeping offers significant flexibility, which is particularly beneficial given your desire for a work-from-home (WFH) opportunity. You can set your own hours and adjust your workload to fit your family’s schedule.
2. Growing Demand:
– Businesses of all sizes require bookkeeping services, and this demand is consistent. While technology and software have changed the landscape, bookkeepers remain essential for tasks that require human judgment.
3. Pathway to Entrepreneurship:
– With the support of your in-laws and their established client base, you have a unique opportunity to begin with a ready-made clientele. Over time, you can expand your services or even start your own bookkeeping business.
4. Skill Development:
– As a bookkeeper, you’ll continually develop skills in financial management, software applications, and client relations. These are transferable skills valuable in many business arenas.
5. Earnings Potential:
– While entry-level bookkeeping positions might start modestly, there is potential for high earnings, especially if you venture into specialized bookkeeping or establish a successful practice.
Considerations and Potential Challenges
1. Potential for Automation:
– While some aspects of bookkeeping could be affected by automation and AI, the human oversight and analytical skills required will continue to be valuable. Positioning yourself as someone who can leverage technology will be an asset.
2. Room for Growth:
– Consider your long-term career path and growth potential. While bookkeeping offers a stable foundation, you might want to explore additional certifications or skills in Accounting or finance for broader career opportunities.
3. Personal Interest and Satisfaction:
– Assess whether bookkeeping aligns with your interests and passions. It’s important to enjoy the work you do daily, even if the career checks other boxes.
4. Changing Industry Skills:
– Stay current with industry changes, particularly technological advancements, which can enhance your service offerings and career stability.
Conclusion
Bookkeeping can offer a fulfilling and flexible career that matches your current needs and leverages your business management degree.