February 08th, 2019

Redefine Yourself with a Portfolio Lifestyle

A portfolio lifestyle is about taking control of your own destiny. Your unique portfolio defines you rather than a full time job defining the way you spend most of your time. It isn’t a new idea. The concept was originally introduced by Charles Handy in his amazingly prescient book ‘The Age of Reason’ in 1989. Handy describes a portfolio lifestyle as… as ‘a portfolio of activities – some we do for money, some for interest, some for pleasure, some for a cause…the different bits fit together to form a balanced whole greater than the parts.’ This portfolio of activities is unique to you and defines your total life. The concept is wider, though includes the element of than a portfolio career where several streams of income form the basis of financial freedom. A Portfolio Lifestyle isn’t just about what you do but about who you are…

There has never been a time when a portfolio lifestyle has been more important but there is not much understanding about what it is and how to achieve it. Many younger people in their 30’s and 40’s are leaving permanent employment after years of frustration with the current ‘Hustle culture’* and many are under threat of redundancy or job restructure. Some set up as contractors, others do online work as part of the ‘Gig economy’** and others take a gamble on buying a Franchise business. Some are jumping from the frying pan into the fire as they struggle to get work or deal with cash flow stresses and lack of social support from colleagues. Many are being forced to accept more than one paying job to pay the higher costs of living…and are so tired that they are unable to escape an ever decreasing spiral of low earning.

For people over 50, retirement isn’t what it used to be! There are now more people over 65 in the workplace than ever before and most of them want to stay mentally and financially engaged. Unfortunately the number of full time jobs is diminishing while the number of people over 65 is increasing! Charles Handy wrote about the future of work in 1989: Organisations will not employ many people over 50. Core jobs*** will not last forever. Age discrimination will prevent it. High energy, high agility jobs require much younger people. Only a small amount of wisdom will be required in corporates that require a knowledge base where they will be coaches and mentors to younger people. Does this sound familiar?
I believe that it is particularly important that everyone over 50 should understand how to create a portfolio life for the turbulent future we are facing and about how to manage this opportunity for self-sufficiency.

Who is this for?
A PL is for those who are driven to change their lives and plan to do it with as much security as possible. Once designed and applied, a portfolio lifestyle is far more secure than an employed one. We have just been conditioned to think that employment is safer. Are you ready for a portfolio lifestyle? Are you…

• over 40 and worried about being made redundant or reorganised?
• wanting to feel in control of your life but don’t at present?
• retired but need to earn more income while feeling useful?
• retired with plenty of money but also want to feel engaged?
• facing retirement in the next ten years but don’t want to retire from life?
• just tired of the relentless demands of a single job without any self-control?
   

Portfolio Lifestyle Planning is for those who resonate with the idea of a balanced, diversified lifestyle. Like anything in life, success depends on wanting to change. It isn’t for everyone; many people are not interested in moving away from their present work and lifestyle.
ere to edit.

  
Why now?

• There is a huge ageing population that wants or needs to work over 65
• New technology has created incredible opportunities but new stressors
• There has never been a higher level of anxiety, depression and suicide as employees try to meet the demands of ever increasing expectation.
• Work is changing rapidly as a result of technology and globalisation
• Information has become unlimited but time and energy has not
• Our workplaces and employment practices have not changed at the same rate as new technology.
• Many employees are also care-givers outside of the workplace for parents, grandchildren or both increasing the pressure of a regular ‘job’
• Many people are looking for more satisfaction in their lives
  

 If you would like to live a more independent life with the freedom to define your own priorities for the future, a portfolio lifestyle could be for you. Wellness for most of us depends on financial security, independence and control of our own lives. Planning for the life you want can lead to a healthier, happier and rewarding life that is within your own control. Most of all, a P.L. is about leaving behind the mind old set of ‘a good job’ and to bravely redefine your life for yourself and your family. It is time to re-think the way we are working and living.

What to do now if you are interested…
Explore further. I have developed a five step journey to living your dream through a portfolio approach. Planning is best done before leaving a secure job – but it is even more important if you have taken the leap already.
 
Janis Grummitt Writer, Speaker and Coach
Janis and her husband have been on their journey to a portfolio lifestyle for ten years. Janis is well known as a leadership coach, team developer and wisdom expert in the corporate world. She also speaks and coaches in her local community. They are both social Anthropologists, with John also having a psychology qualification. They would never go back to employment and have learned a great deal along the way! Why not take advantage of their experience and that of others who are treading the path to the future?
Janis offers online materials, personal coaching, talks, workshops and blogs. She uses a five step journey and her own profiles and tests to clarify your unique potential for wellness and success. She shares her experience, guides and supports you through her five steps to realising your dream life by reinventing your life. She networks you online and in person with others who are on the same journey. Contact her at Janis@workplacewisdom.co.nz

Definitions

* 'Hustle culture'
Hustle culture is the mindset that you have to pour every single second of your day into “work.” it goes past being a workaholic, because workaholics at least eat and drink and sleep. They just spend all waking hours thinking about work, wanting to be at work, or working. #Hustle culture takes it a step further

** 'Core job'….
Handy used a Shamrock to describe the organisation of the future.  Only highly qualified, younger full time employees were designated as the ‘core’. The other two leaves of the Shamrock are sub-contractors and temporary workers – who make up the majority of the organisation.

*** 'The Gig economy'
The gig economy gets its name from each piece of work being akin to an individual 'gig' – although, such work can fall under multiple names. It has previously been called the "sharing economy" — mostly in reference to platforms such as Airbnb — and the "collaborative economy". However, at its core are app-based platforms that dole out work in bits and pieces — making deliveries, driving passengers or cleaning homes — leading some to prefer the term "platform economy". 

More Background

Hustle Culture :
The Hustle Culture and mentality out of Control? Forbes

The Toxic World of Hustle Culture. Financial Review.

Handy’s Shamrock organisation
Wikipedia definition

The Gig economy
What is the Gig economy? Wired.

Portfolio career
Why everyone should consider building a portfolio career. Forbes.