Portfolio Careers - Do You Have a Split Personality?

In the last post, we talked about encore careers—finding fulfillment in a second career helping others. Today, I want to explore portfolio careers. I first encountered this concept while researching life coaching. I had found my journey of self-discovery so rewarding up to this point that I was considering whether I might enjoy helping others through a career as a life coach. One coach indicated she often recommends portfolio careers to her clients looking for a change. The more I read, the more intrigued I became.

There’s nothing particularly new about a portfolio career—it’s basically a career comprised of multiple part-time jobs. In the early ‘90’s, British management consultant Charles Handy coined the term and suggested that working full-time for a single employer would go the way of the dinosaurs in the twenty-first century economy. His prediction proved prescient, especially with the Great Recession gobbling up so many full-time jobs. Many workers have been forced to piece together employment from several part-time jobs or temporary assignments whether they want to or not. As with encore careers, it can be difficult to replicate the income from a full-time job, and then there’s the issue of benefits.

But what about a portfolio career by choice? The prospect sounded increasingly attractive to me.

Since I had planned to retire early (just not this early), I had already considered the issue of health insurance. I had hoped to wait until OG qualified for Medicare, but since that didn’t work out, we decided to elect COBRA benefits through my former employer. The coverage is expensive, but comprehensive, and will cover OG until he reaches sixty-five. At that point, if not before, I will need to purchase individual coverage. For me, the Affordable Care Act couldn’t have come at a better time.

That leaves the issue of income and the decision about what I want to do with the rest of my life. I could look for another job, but even ignoring the issue of age discrimination, every fiber of my being resists the idea of working for someone else again. I have never considered myself entrepreneurial, but I trust myself with my future more than I trust anyone else. The time seems right to take the plunge into self-employment.

I am lucky enough to have adequate retirement savings but not quite old enough to tap into them without paying a penalty. We have enough in the bank to cover our expenses for a number of months, so I intend to make the most of that time preparing for my next career.

Many people who choose to put together a portfolio career build off their prior professional experience. They might consult in their previous field for a number of different clients or rely on past contacts to establish a new business. I rejected that option immediately. The thought of spending another hour working in insurance gives me chills. But what else do I know how to do?

I know how to write. I’ve written two award-winning novels and a novella and have another completed with several more in the works. But because I know what’s involved, I had to ask myself whether I have what it takes to be a full-time writer. The honest answer is no. I need more variety. To do my best work I need to allow the creative well time to refill. I know I want to continue writing, but that’s only the first part of my portfolio career. Because I have gone through the self-evaluation process described in my previous post, a couple of other ideas have been percolating in my brain.

I love the written word in every form. I love to read; I love to write. I also love to edit. Not many writers can say that, but it’s true for me. I’ve been professionally edited, and I’ve edited other writers’ work. I know I would find it truly rewarding to help independent authors present their best possible work to the world. The second part of my new career will be freelance editing.

I have another love as well—art and design. Along with writing and editing, I’m going to learn to design book covers. I have a degree in Art History from Vassar College, so I’ve been trained to evaluate and critique visual art. Unfortunately, I can’t draw a convincing stick figure, but today’s software makes that unnecessary. I’ve been teaching myself to use Photoshop, and I love it. I also may take a class in the next few months. After so many years spent mastering a technical business discipline, I look forward to the chance to learn something new.

So there you have it: I’m going to become a slasher (as in writer/editor/book designer). If you had the opportunity to create a portfolio career, what would you choose?

Adventures With OG

As we begin, I thought it would be a good idea to introduce my partner on my journey into The Second Half. Henceforth, for purposes of this blog, my husband shall be known as OG (short for Old Goat – his appellation, not mine).

OG and I have been married nearly thirty years and have been true partners in every sense of the word. Our road has had its bumps and bends as most do, but we’ve stuck it out together and are genuinely looking forward to spending more time in each other’s company. We are the parents of a wonderful twenty-six year-old daughter who is the light of our lives but is now ready to spread her wings and start living her life—leaving us free to devote more time to building our own.

One unusual characteristic of our marriage is the fact that OG and I have never been employed full time simultaneously since our daughter was born (which begs the corollary--we've never been at home at the same time either). I took the first eight years of her life off to stay home, and then we switched places.

OG has shown unflagging support during the recent disintegration of my career, being no stranger to untenable work situations himself. In order to remain employed while I stayed home, he was forced to change jobs several times as employer after employer shut down, was sold, or left town. Ultimately, we moved to the Twin Cities when there was no work left to be had in Kansas City. When yet another job crumbled on him, we decided it was my turn to take my chances on the employment merry-go-round. I struck it lucky, and OG moved into the then-uncommon role of stay-at-home dad.

Our neighborhood is currently teeming with fathers who gather at the school bus stops in the morning dressed in jeans, clutching coffee mugs and chatting with each other after their children depart. However, eighteen years ago it was cutting edge. These men may work at home today, but OG’s job could only be done in an office. So for years he gamely drove missed lunches up to school and responded to calls from the nurse’s office, shopped for groceries and did the laundry.

I tell you this so you’ll understand this is his time, too. We’re both looking for a new challenge, something to make us want to get up in the morning now that we no longer have to set the alarm. We plan to pursue our separate interests, but we’re on this quest together. It makes it so much easier and so much more fun. We'll just have to be careful not to drive each other crazy in the process.

Free At Last

Free at last! Free at last! Thank the Lord, I’m free at last!

I had planned to make these words from the old spiritual my mantra for 2013. Before I left my job (see the About Me page for complete details), I expected to shout them from the rooftops. The truth of my response to leaving the world of “regular” employment after thirty-seven years is somewhat more complicated.

Mine was not the triumphant retirement I’d planned as recently as six months ago. Instead, it arrived a few years ahead of schedule and brought along a niggling degree of economic, as well as emotional, insecurity. My head knows my husband and I have tucked away a comfortable sum, but my heart still quakes at the thought of January 15^th, the first payday in decades when no check will arrive.

Although I was able to leave on my own terms rather than being laid off or terminated, my departure wasn't the warm experience I’d envisioned. I gave my notice and was requested to leave the following day—not surprising, but not gratifying either after more than sixteen years.  After a brief, pleasant announcement, a few co-workers stopped by to wish me well, and I slipped away unnoticed during the employee holiday party. As I turned out the lights in my office for the last time, carried my remaining belongings to my car, and drove off all I could think was what an anti-climactic end to one of the most important chapters of my life.

But in truth, I didn’t expect more. During my career, I’ve watched enough people come and go to know that in business no one is ever missed for long. And I don’t intend to waste time dwelling in the past; it isn’t worth the energy. I have a new life to plan. And that’s what this blog is about—planning for and making the most of The Second Half.

I’ve devoted much of the past six months to self-discovery, not an altruistic pursuit but critical at this point. When I graduated from college, I didn’t spend five minutes considering what I wanted (or needed) to do with my life. Like so many, I was simply looking for a job. And that first job led to more than three decades in the insurance business. I enjoyed many aspects of my job, but it probably wasn’t the best match for an Art History major. Now I get a do-over.

I’m at the beginning of an exciting journey, one you may be preparing to make as well. Or perhaps you’re father down the road and willing to share your experiences with those of us who follow. I hope that together we’ll find the good humor, inspiration, and determination to construct a satisfying, uplifting Second Half. Thanks for coming along for the ride.