When you fail to achieve your career goals, what should you do? The following career planning tips offer an answer.

If you’ve made a career blunder you can either waste time blaming your luck, or review your career plans. But don’t you realize that you can turn this situation around?

Often you simply overlook your mistakes. You may know that setting effective goals helps you get where you want to be. You may be setting goals, but are they really realistic? Are you really focused on them?

Don’t Succumb To Peer Pressure

The reason most people fail in the area of career planning is that they either have unrealistic goals, or they are not working hard enough to achieve them.

The lesson here is to choose a career you are passionate about. As each person has their own individual strengths, weaknesses and potential it is a mistake to elect a line of work just because your friends are doing so.

Also, before you set any goal, remember to take into account of what it will take for you to succeed.

Set Specific, Realistic Career Goals

Many people set goals; however, they fail to achieve them because they are too vague. Your goal may sound good, but if it isn’t specific enough, you will probably end up frustrated. Likewise, unrealistic goals are hard to achieve and will only make you feel like a failure.

If you are looking to advance your career, choose a field that has a wide variety of options. Some professions may leave you stagnant and allow no room for forward movement. Let’s say you are a teacher; you may not find many career advancement opportunities unless you pursue an advanced degree.

Overall, career planning isn’t rocket science, but it does take careful thought, research and hard work.

Every pay period, along with your paycheck, you get a stub – an extra little bit of paper with a lot of information. Depending on your employer, your stub, or explanation statement, can look very different. However, there are certain pieces of information that every employer must include on a paycheck stub.

Gross Pay

Your gross pay is your total income from this pay period.

Net Pay

Your net pay is the amount you actually receive. Your gross pay becomes your net pay by subtracting all withholding, including taxes, Social Security and Medicare.

Federal Tax Amount

The amount withheld from your paycheck for federal taxes can vary, depending on the number of exemptions you claim on your W-4 form. Your employer required you to fill out a W-4 form when you were hired and you will need to fill a new form out every year. This money goes to cover your taxes when you file your yearly tax return. If too much was withheld, you will receive a tax refund. If not, you will need to pay an additional amount.

State Tax Amount

Most states withhold set amounts from your paycheck to cover your yearly state tax obligations, just like the federal system. However, not all states use this system, so you may not have a state tax amount listed on your pay stub.

Local Tax Amount

Some cities also withhold taxes from paychecks, but it is relatively rare.

Social Security

A percentage of every paycheck you receive is withheld for Social Security. That amount changes annually. Upon your retirement, the federal government will pay out a monthly Social Security payment. You may also have a number listed for FICA on your paycheck. FICA (Federal Insurance Contribution Act) payments are made by your employer to match your Social Security contribution.

Medicare

Medicare withholding from your paycheck operate similarly to Social Security, though are specifically meant for paying your medical expenses after retirement. Your employer is also expected to match your contribution.

Year-to-Date, Important Notices, and Other Information

Your paycheck stub should list how much you’ve paid to each withholding so far in the calendar year. Many employers add notices to paycheck stubs, since all employees will receive one, and depending on your employer, your paycheck stub may include other deductions, such as insurance payments or retirement plan contributions. It may also list leave time, childcare assistance or other benefits.