Brewed Fresh Daily

Last month, Changing Gears teamed with authors and CNN anchors Ali Velshi and Christine Romans to collect your questions on the personal finance issues that you’re facing because of the recession.

Today, we’re bringing you the next in our series of Midwest Money answers from Ali and Christine, based on their new book, How To Speak Money: The Language and Knowledge You Need Now. (Each person whose question is used will receive a copy of the book.)

Today’s question comes from Regina Baldwin of Bowling Green, Ohio.

I am returning to school, while continuing to work full-time, to try to expand on my experience and enhance my ability to get a better job with a degree.  I’m concerned that I am on the correct path as I am over 40.  I am keeping my student loan debt at a minimum by attending a community college.  I am worried that I will not get a better paying job by the time I finish.  (If it makes a difference, I am pursing a BS in Business Administration-Computer Information Sciences with a focus on Accounting, and I currently work in healthcare.)

Ali and Christine answer,

If we were writing another book, we’d highlight you as an example of someone with exactly the right attitude and initiative in a new, more difficult jobs market. You are making exactly the right investment in yourself with this education and retraining, and the student debt you are taking on is what we consider “good debt.”

It’s even smarter since you are pursuing your studies at a community college. Bottom line, people are living longer and working longer, so the degree, the education and the work experience together are critical for many years of earnings.

At the same time, we hear you on your concerns that you might not end up with a higher-paying job in the end. Ali thinks your accounting focus is key. Accounting jobs are expected to grow 22% between 2008 and 2018, according to the Bureau of Labor Statistics. That’s much higher than the average of all professional occupations (17%) and translates to almost 280,000 new jobs.

(Click here for a gallery of the 20 highest paying jobs.)

Christine is enthusiastic about anything STEM (that’s the acronym for Science, Technology, Engineering and Math) and certainly computer fields are in there. In fact, more than half of all job hires forecast in the first months of this year are expected to be in tech. According to the Labor Department, median weekly earnings for computer scientists and systems analysts earn last year was $1,220 a week.

(Note: Changing Gears plans to report on STEM this year.)

It’s very important to be confident in your decision, build self-confidence and be aggressive: maximize your work experience as you pursue your degree. Network, volunteer for positions and new projects, and apply for internships in your new field. That’s tough while working full-time, we know, but short term pain will mean long-term gain.

Click to read Ali and Christine’s previous answers.