[Nelsonx5]

I am in the process of getting an MA in Accounting, but will be 49 by the time I finish it. I am debating taking the CPA exam at the end. Given that I will be almost 50 by the time I finish taking the exams (assuming I pass all on the first try!), is it worth it at that point? I had a career in my 20’s, then became a stay at home mom for 12 years, then went back to school for accounting. I have been working part time as an accounting assistant for 5 years, but other than that, no real experience.

[Anonymous]

Is it more or less a requirement that for an older person that you must pass at least one-two sections of the CPA exam to be considered for accounting jobs?

[Valleygrl68]

I’m 49 and got my accounting degree 3 years ago, spent some time deciding what it is I really wanted to do with the next half of my life and decided I was burnt out from the Big 4 and wanted more work/life balance. Joined the federal workforce last Fall and happy as a clam! I’m working on the CGFM now but will revisit the CPA later this year. I figure with a couple certs and my many years of experience I can keep myself gainfully employed until I retire.

[FSaved]

If you have to study for the CPA exam then I suggest using Gleim and Jeff's flashcards. Jeff probably hates me saying this, but you can wait and he'll probably eventually have it on sale, although they are still worth every penny if you pay full price. I skipped the written section practice, that's optional imo, but you should still look through it once getting your zeros so you know what to expect. Realistically of the four options they give you, you'll only be able to give a coherent response on two of them if you're lucky. I was twice, that's why I passed them all the first time. It's more important that you actually know the material than have any writing skills, and the flashcards help more with that than anything else, easily. So go through the flashcards and get yourself up to at least a 75% Brainscape rating on all the sections, or whatever people use with flashcards now. And up to at least an 80 average on the Gleim multiple choice, 85 is better. A 79.4% on the multiple choice will let you pass if you get a 50 on the written section if they don't curve it. And they do. They really, really do. Each time except for FAR I thought I got about a 65. I see though that only one of those tests has a written section now, so good news for you 😀
I only did it because I was offered money to either get a job or go to school, and I couldn't get a job, so taking the CPA Exam was what I believed a cheap option to make the best of a bad situation. After applying to a few hundred accounting jobs, most of which still wouldn't meet the CPA experience requirement, I apply to ONE job out of the accounting field and get it. I make more money working part time than the accounting people would make full time, and usually full time jobs aren't available for them and they work two or three jobs. The supervisors here make more than CPAs with 10 years paid verified job experience, a clean driving record, a solid work history, and currently employed do. As far as I'm concerned this is my career and it would be stupid to do anything else, the only way I'm out is if they fire me. That's the way this upside down economy works where all the graduates are only sticking to things in their fields because they can't let go of this indoctrination that we still have class mobility, and education is the guaranteed ticket up. Not the reality where society punishes you for trying to move ahead, everything in your field requires experience you can't get, and you can't get the stuff out of that field because businesses hate educated people, “You want to work here?.
If you're in your 40s and have that job that was promised to you once you get your college degree (that they're still promising kids now. I was quoted $110,000 by the way for passing the CPA Exam) if I were in your position I wouldn't be thinking about passing the CPA Exam, I'd be taking my million dollars off to somewhere where everything especially health care is a lot cheaper and take an early retirement. You were buying stocks, right? I'm willing to bet that's not the case, so you should live frugally, save up and be happy with what you have instead. The only way I can see the CPA Exam, or any education past high school, being worthwhile is if you can get someone else to pay for all of it, plus cover all your living expenses too.

[FSaved]

Here's a hint, if you own your home you should plan on at least $12,000 of expenses in retirement (if you can't afford that, move somewhere you can, move to Detroit or something or better yet anywhere but the US)
firecalc.com is a great site for retirement, it takes a portfolio and shows what would have happened for the specified period as many times as it can using investment growth data since 1871. Stocks beat everything, I wouldn't suggest anyone have more than 10k or 20% of their portfolio in bonds ever.
If there's one thing you can learn of use from the CPA Exam it's how to invest, and tax planning. Maybe you can read up on what Warren Buffett used to do, and aim for a 15-20% return, buy and holding micro and small value stocks.
I see myself eventually making more from doing that (above say, the S&P 500 growth) than I do from my job. I live real cheap and can save 5k a year, and that can add up really fast especially when you're still young.
And don't do something stupid like have kids or get married.
And put either the maximum in a retirement account, or enough to bring your Federal tax liability down to $0. Why don't people do that! Free money!
And 10-20% raise for a new job? Are you crazy? The job you have now may be the last one you have. I wouldn't settle for less than double what I make now, and a 2 year contract.

[Missy]

I'm not sure whether I'm more curious about which section of the CPA exam touched on personal investing and how I missed that completely or how someone who heeds the advice to never get married and never have kids while making enough to put the max in a retirement fund avoids all federal tax liability………….

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

This topic certainly needs a bump.

In late 40s? For most people, no, it's not worth doing. “Most people” stop working by about age 65. Assuming you get a CPA license at age 48, it means you have about 17 years to get some use out of it. BUT…most people at age 48 are not on the way up in their careers. They've been on a plateau for probably 5 years, if not more. If you're on some kind of very, very long-lasting career trajectory that hasn't yet plateaued and started its descent, then maybe it's worth it. Worth it for maybe 1 in 100,000 people.

As someone who knows multiple CPAs, I have yet to hear one of them say that getting a CPA at age 50 for anything other than “personal fulfillment”, is a sound idea.

It's been 8 months now since I last took a section of the CPA exam. I've tried to start studying again. I can't seem to get very far. I can't wrap my head around “AICPA-style accounting”. I only know accounting MY WAY – and my way worked well enough to land me a decent job. It's like I just don't care about it anymore.
I studied hard for the three sections I took. I burned myself out. I threw money away on a review course that didn't work; then again, all the review courses seem to have their
respective drawbacks. I see others beating their heads against the wall with the process and struggling to pass this exam that, really, isn't all that hard – it's just that there is so much information to remember. My memory is not what it was a decade ago. I ask myself, “If I have this credential, what will it do for me? I don't want to be a controller or an auditor. I will never work in public accounting. Do I care about making more money than I currently do? Ok, let's say I get $20,000 more per year as a result of having a CPA license. I'd invest that into my retirement. But, I seriously doubt I'm going to be alive for many years after I retire, and that won't be for another 25 years or more.” The really ridiculous thing about this is that I've never had anything like it in my life that caused this much confusion. It's like a never-ending maze with no end. Don't worry, I'm not trying to elicit sympathy or sentiment. But, if you're in your late 40s, consider your window closed. Pick another certification and some other letters to put behind your name.

[Missy]

Well this almost 50 year old CPA says its still worth it to get a CPA in your 40s or 50s. There is still upward career mobility even at my decrepit age, and even in established careers come raise time the whopping $1500 investment in getting the CPA (assuming you meet the credit requirement and aren't silly enough to drop 3k on Becker) can be recouped in the first raise or promotion. Then consider the increased earning potential for the last 15-20 years of your career, its entirely worth it.

At the same time, regardless of age, 24 or 54 if you're not “all in” you're wasting time and money. All of this “I was so burnt out I took 6 months, 2 years, etc off” is just a way of justifying the fact that someone grossly underestimated the commitment required to do this. Its a huge undertaking, and there are definitely people who aren't up to it. Age has no direct correlation to that. I've seen 50 year olds whip this out in 6 months and 26 year olds who struggle for years.

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

There should seriously be a lower form of the CPA. How 'bout “Registered Accountant”? The exams are the same as the CPA exams but you only have to get 60 on each section to pass.
Candidates who get it can expect maybe 10-12K more in salary every year. It's great for moms with young kids at home, and
people like me who are 40'ish and not a cute young whippersnapper who just graduated and got in at B4. In a perfect world.

As I say, I don't know what to do about this. I told myself that I would re-take FAR and take REG (haven't taken that one for the first time yet) and see what happened.
So, I shall bite my tongue until then. If I pass either or both, I'm inclined to keep going. If not, then I'll probably have to accept that I'm not intellectually gifted enough
in Accounting World to continue and will perhaps seek out another credential instead.

[aaronmo]

There is a lower form of CPA accountant…

It's called accountants without CPAs.

I agree with Missy and think some of the opinions expressed on this page are absurd. Yes…it's worth it in terms of career/money. It may be worth it to you in terms of confidence…it was for me. It's worth it in terms of prestige.

Your options as an older “new” CPA aren't the same as a kid in college…you won't be in a big 4…but it absolutely still has value in corporations…if you want to be in public in ANY capacity…etc. The CPA provides credibility in a way that non-CPAs strictly don't have. You are not looked at the same way once you have your CPA. It doesn't mean that a non-CPA isn't a good accountant, or can't be good at their job…but the CPA brings instant credibility. If you are applying for a job against a CPA…the CPA has the edge with most hiring teams.

If I were a hiring manager, and I'm interviewing a 50 year old mother who just got her CPA…she's head of the line. She's committed, can work hard and is clearly motivated/intelligent. I can't think of any profile I'd hire over her. I also think older folks who do something like this are more loyal once given an opportunity…I know I was.

To quote Jason Kelce – hungry dogs run faster.

[Nikki374]

I agree with Missy. It's totally worth it! I don't know why people get stuck on age. Not everyone has the same path in life or in their careers. I have a lot of experience (including 2 years in Big 4) and soon I will have a CPA. I'm excited about it and I don't care what people think. 🙂

[Tncincy]

Well, I am 53, I've been at this too long. I have not passed because I have so many obligations, and I need to study. I am looking forward to passing the exam and having those letters to take my business to the next level. I am not ashamed of my age. I am not ashamed of trying . Call it personal fulfillment or what ever, I am happily looking forward to adding to my career. Age is a number, but so is MORE MONEY and a BETTER LIFE STYLE. Oh to answer the question? Yes, it is absolutely worth it.

It begins with a 75
Been here too long as a cheerleader....ready to pass

[sacpa]

@aaronmo: Thank you so much for your response!

‘If I were a hiring manager, and I'm interviewing a 50 year old mother who just got her CPA…she's head of the line. She's committed, can work hard and is clearly motivated/intelligent. I can't think of any profile I'd hire over her. I also think older folks who do something like this are more loyal once given an opportunity…I know I was.'

These words gives me so much hope as I am 54 year young who was a stay at home mom to raise my sons, took Accounting classes, working part time during tax seasons & here I am studying for the CPA exam. I have hopes that there will be more hiring managers who think like you & actually see how much people like me are worth.

@Missy: I totally agree with you about CPA being worth it no matter what age. The fact that you & so many other people in their 40s & 50s have given their testimonies in this thread is proof that age is just a number, the changes that happened once they passed the CPA exam – whether it was a boost of confidence, gaining self respect, gaining respect from family members/colleagues/friends/relatives, raise in salary in present job, jump to a better paying job, started their own firm – are endless.

@crazyleon: At this point, personally I don't care whether I will get a raise of $10,000 or $15,000. I started on this journey to become a CPA & that is what I will become, no matter what obstacles I have to overcome & the setbacks I have to face. The first victory will be the pass in the 1st section, followed by the other 3 sections. Whatever that follows after success in all 4 sections will still be an upgrade of my current situation. So at this point, I am not concerned about how that upgrade would be in terms of type of firm that will hire me or what they would offer me. I am more concerned about focusing on the first section, topics in that section, sub topics in that section & give it my 200% & pass it.

As you said yourself, without knowing how to go about this, it is best not to jump into conclusions as to what is best for people in their 40s & 50s. If you had the chance to read all the responses in this thread, it would give you an opportunity to learn about the experiences of people in this age group, how they achieved their goal, their situation, hardships they had to endure & what opportunities opened up after becoming a CPA. Also, reading ALL the responses to your own recent post would give you lot of pointers to help you. I read them & gave me lot of hope & confidence. Stay hopeful! All the best!

FAR - < than 75, 10/2013, 2/2015
BEC - < than 75, 10/2013
AUD - < than 75, 8/2015, 1/2016

~ Winners fail until they succeed. Losers quit when they fail. - Robert Kiyosaki
~ I survived because the fire inside burned brighter than the fire around me.
~ Something will grow from all you are going through. And it will be YOU.
~ Right now you may not be where you intend to be, but it's where you need to be in order to get where you want to go.

[Anonymous]

Some good comments. And, I certainly don't want to piss on your party if you are 50+ and pursuing the CPA. @missy you're correct yet again, if you're not 200% committed, you won't get through the exams unless you're very knowledgeable and/or very intelligent.

I think I'm just getting old. I've never done a recreational drug in my life and yet I can't remember anything anymore. My memory just sucks. So if anything, that's what's going to hold me back.

[sacpa]

Please watch your language. I am past the point of naysayers in my life, whether it's regarding CPA or anything else. My point in my previous post reflected my opinion & thoughts & provide encouragement to you as well. To each their own. YMMV.

FAR - < than 75, 10/2013, 2/2015
BEC - < than 75, 10/2013
AUD - < than 75, 8/2015, 1/2016

~ Winners fail until they succeed. Losers quit when they fail. - Robert Kiyosaki
~ I survived because the fire inside burned brighter than the fire around me.
~ Something will grow from all you are going through. And it will be YOU.
~ Right now you may not be where you intend to be, but it's where you need to be in order to get where you want to go.

[Anonymous]

My, my, my. Somebody sure woke up from their afternoon nap on the wrong side of the sleeping bag.
“Please watch your language”? If you think “piss” and “it sucks” are vulgar, well…I wonder what you must think of the f word and some other harsher ones. My response wasn't written for everyone, not just you. Some people just have to feel important, I guess.

[Author]

Replies