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Why Portfolio Careers Are the Future for Gen X Professionals
See how value-driven portfolio careers offer flexibility, financial resilience, and purpose for professionals in their 50s and beyond.
Cool post for you today;
I’ve found some rad ideas about portfolio careers, value creation, and how Gen Xers like us can fit into today’s crazy job market (or move closer to semi-retirement).
(Come on Corey, rad? Yeah, sorry, I couldn't help myself)
After you read this, you see what’s trending, what’s worth rethinking, and a few light bulb moments I’ve had (that just might spark some of your own).
Let’s dig in…
The Portfolio Career
I stumbled upon a new term that’s trending in the UK, South Africa, Australia, and more: portfolio career.
A portfolio career comprises a variety of roles rather than one job at a single organisation. It can be a career that combines multiple paid and/or voluntary roles.
Here’s a visual for you…
I took that table and went a step further to see how a traditional career compares to a portfolio career for us 50-plusers…
Traditional Career | Portfolio Career |
---|---|
Rigid schedule with limited flexibility | Dynamic schedule allowing for gradual retirement transition |
Relies on one employer, increasing vulnerability to age discrimination | Diversified work reduces dependence on a single employer |
Emphasis on career length and seniority | Focus on expertise and adaptability over age |
Often limits opportunities for skill development | Encourages continuous learning and new technology adoption |
Perceived stability but higher risk if laid off | Multiple income streams create financial resilience |
Employer-driven roles and responsibilities | Self-directed, leveraging decades of experience |
Can face significant age bias in promotions or hiring | Independent work highlights value over perceived age |
Limited exposure to new industries or trends | Opportunities to explore diverse fields and interests |
Structured progression within one company | Entrepreneurial mindset fosters creative career paths |
It’s what I’ve been doing and talking about for years. Remember the “offensive retirement portfolio” I talked about in the Gen eXit playbook? See the connection?
Overall, the fact that it is trending lets me know that we are onto something. Plus, it makes it easier to find some hard data backing up what I’m preaching here on redefining retirement.
And it’s a trend that isn’t going anywhere…
“According to the OECD forecast, by 2030, 50% of all professionals will have portfolio careers.”
I went down the rabbit hole on this, so don’t be surprised if you see me writing about it again in the near future.
And now, let me tell you about another light bulb moment I had recently…
Why Being Close to Value Creation is a Game Changer
I was listening to one of my favorite podcasts these days, My First Million, and this quote jumped out at me.
“Your value is inversely proportional to the distance from the actual value creation, whatever it happens to be [product or service], so if you're not in there, find a way to get there.”
If you remember my socket pan story, that is exactly what I figured out (without the smart-sounding quote).
It also jives with a big trend I’m seeing in music marketing: direct-to-fan marketing (no middle man, no record company, no streaming service giving you $.003 per play, etc.). You keep more of the money you and your music generate.
How far away are you from the product creation, service creation, and/or customer?
If the answer is pretty far, you will likely be making less money than you could be while being more expendable.
Listen to the episode when you get a chance…
Insert the AirPods and go for a walk with this episode. It is filled with big takeaways that will put you in a hopeful mindset for the new year.
How AI Can Simplify Learning (Even for Beginners)
I've been using AI for a few years. Sometimes, I forget how helpful simple prompts can be for beginners.
For example, you can have AI break down a tough idea when you can’t quite wrap your head around it. This opens up a ton of possibilities on what you can learn and really speeds up the learning process.
Try this.
Go to ChatGPT and paste the following prompt into the chat:
“Explain {concept or topic} to me like I’m a fifth grader. use simple language and everday examples.”
And if you really want to have a little fun and travel back in time, try this one…
“Explain {concept or topic} to me like I’m a fifth grader in 1985. Use simple language and everday examples from the 1980s.”
If you can’t think of anything, ask it to explain the "curse of knowledge," a term from the book "Made To Stick." It will explain why I forgot how helpful a simple prompt like this can be to beginners.
Or drop in the quote from Dharmesh on value and see what you get.
And now for the big takeaway…
Key Lessons on Redefining Work, Money, And Learning
Let's recap what we've learned today...
Portfolio careers aren't just some trendy buzzword - they're your ticket to controlling your own destiny (and income).
When you're the one creating value, guess who gets a bigger slice of the pie? (Hint: Your wallet)
And that "complicated tech stuff" you've been avoiding? AI's got your back now, making it easier than ever.
So with that, I have a fun idea…
And here’s the best part—none of this requires you to drop everything and dive in headfirst. You can start small, learn as you go, and build something that actually fits your life.
Whether it’s launching that blogletter, mastering AI, or just rethinking how you make a living, it all comes down to one thing: taking the first step.
So, what’s stopping you?
Have a good one,
Corey
No rush, but when you're ready to start building your portfolio, here are a couple ways I can help you…
1. Start Your Future-Proof Blogletter: Discover how a "blogletter" lets you turn decades of experience into income streams. Perfect for Gen Xers who want to create their own job security. Check out my complete guide on building a long-term asset that pays you while working on your own terms.
2. Grab Your Gen eXit Playbook: Discover my offensive approach to retirement—no more waiting until 65 to do what you love. You'll learn how I went from a $40K/year cubicle guy to a six-figure solopreneur and how to stay relevant doing work you actually enjoy.
3. Join The Newsletter: If you liked this post, introduce yourself and join our community of Gen Xers going from employment to self-deployment. Get weekly insights on staying relevant, building multiple income streams, and creating lifestyle-focused work. It's free, and you'll get The Gen eXit Playbook.
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