Ask the expert: Plenty of options but no goals

I am currently 35 and happily married with two toddlers. In three years time I will complete a 20-year contract in the armed forces and receive superannuation in excess of $300,000. I have a number of options which I am considering; Full time study at university, living the dream and buying and operating a business noting that we have no experience, or extending my career in the military because it is what I know and am comfortable with.

I think you are already well on your way; you are taking stock of your long term career prospects and assessing your capabilities and qualifications. The process most people undertake is to consider multiple options and then assess the pluses and minuses of each option, understanding that there are many unknowns. There are three issues in your question that concern me, however. You suggest one of your options is to become a business owner, but that neither you or your spouse have any experience or knowledge in this area. I'm not sure if this is a dream because it is something that you really want to do, or because it seems a very romantic and idyllic option. If it is the second, I would advise that you think again.

The second issue is that you treat your options as either/or. A University qualification might be part of preparing for a career change, but there are many options that are open to adults who are working full-time, many offer advanced entry for people with decades of work experience, and there is no reason that you couldn't be well on your way - or even finished - with a qualification in three years time, in addition to continue to work and earn a very good salary.

The third and most critical area that concerns me, is that there are three pathways but no goal. Before you can make any of these choices, you need a very clear idea of what you want to be doing, not just in three years time, but in the next 10+ years. Your development has been in the military, and you have both training and skills as a result, how can you leverage these moving forward. Both the defence force and most Universities have careers advisory services, that might be a first port of call, to gain a better understanding of both your own capabilities and the career options open to you.