Holding On, Moving Forward
Carrying on when plans don't go to plan...
If you’d asked the 30-something version of me what she thought the 50-something version would be, it would likely include having my shit together. Well, let’s just say she had no idea what was coming, and I most certainly do not have my shit together.
Life has thrown things at me that I wouldn’t wish on my worst enemy - so that somewhat explains why I don’t have the said shit sorted. Even so, part of me is very hard on myself for not being where I thought I’d be at this stage. At the same time, though, another part of me is also proud that I am still standing and still trying.
This current phase - where my daughter and I find ourselves in the midst of another shitty gift from life - I find myself mindful of old me, and then, in turn, old her. I always felt like I had time to work it out and build what I wanted (or thought I wanted to build). But now, with my age getting closer to starting with a six, as well as some hefty restrictions on what I can and can’t do, how my later years are going to look is more and more on my mind.
Then, when you throw in what is going on with AI, job, and even industry insecurity, it creates even more uncertainty.
Sometimes I wonder what just giving in would look like. Then I remember I am a stubborn ass who has never wanted anyone or anything to tell her what to do - and definitely does not want to be at the mercy of a system.
So, I decided to design what works for me and in a way that works for me, regardless of what else life may throw my way. I’m doing this by creating a portfolio of income sources and interests. It’s involving a lot of trial and error and some pivoting of the balance depending on how things are going at home.
I believe this portfolio career style is what the majority of us are going to need to embrace as we move forward for a number of reasons:
👾 AI is improving at a rapid pace and this means jobs are disappearing - or if they are staying, it’s at a very reduced capacity. This means many are facing redundancies or business losses. If you are someone over 50 - or even over 40 in some cases - agism in the workforce is very much a thing, so when it comes to competing for the few full-time jobs that remain, you will be up against it.
🥪 As the so-called “sandwich generation”, we - especially women - are dealing with taking care of children, and possibly grandchildren. At the same time we are mindful of our aging parents’ needs. This takes time and flexibility.
💸 Mid life is often a time when women find themselves in a vulnerable financial position. It might be due to relationship breakdowns, major financial setbacks or health/other personal issues. And as the demographic most vulnerable to homelessness, being able to build income to support yourself is vital.
Creating a portfolio career and/or business allows you to build multiple sources of income so that if/when one is affected by any of the above, you have other streams to fall back on. It allows you to pursue things that you have always wanted to do but were not necessarily financially viable as a full-time option. It allows you to choose when, how and with whom you work.
What I do notice in my conversations with women at mid-life and/or mid-career, is that they often don’t realise just how transferable the skills and experience they have are. And how well things can work together in a different way.
Here is my current setup as an example (and I say current because I know it will change):
Ghostwriting - memoirs & life stories, LinkedIn profiles, award entries, thought leadership, etc.
Some portfolio career and business consulting
Self-paced tools that people can purchase and then work through at their own speed.
More of the writing I like to do without the pressure of it needing to make enough money to cover everything. At this stage, it only brings in a small amount of income, but I get to enjoy it.
Learning more about investing and trading - something I’ve been interested in for a long time but never quite got to. Minimal income at this stage, but it satisfies the financy part of my brain…
Ghostwriting is my primary source of income at this stage as it offers the most flexibility. I enjoy the business & career consulting but my capacity for 1:1 sessions can depend on what is going on in my home life - so I pivot what I put emphasis on accordingly.
By including the writing I enjoy as well as investing/trading as an income stream, even though they are minimal at this stage, it ensures they still get prioritised as they are something I definitely want to explore more.
How I have taken my previous skills and experience:
Finance Broking (1): Getting to know people’s financial stories and then helping them find the right financial solutions to help them with homes, investments and businesses
→ I now use these skills both in my writing work and my consulting work.
Finance Broking (2): Putting together finance proposals, reviewing documents to identify what was important, and project management.
→ I use these skills a lot in my writing work. I’ve also found them helpful in managing my own portfolio career.
Recruitment: Identify people’s strengths and what they really want (and cutting through a bit of BS…)
→ This is useful to help people work through where they are now and where they want to go.
BA in Psychology: This took me many, many years to complete…and in the end, was not a career I wanted to pursue, but still taught me a lot.
→ I use some of what I learned throughout my studies to understand how and why people do what they do. It has been a big help in both writing - particularly memoirs and life stories - and consulting.
My Personal Experience: My experience offers me a unique perspective that I don’t think I would have if I’d had an easier life. In some ways, I am actually grateful to be able to do some good with what has been so very difficult.
→ I really do know what it’s like to have to deal with major adversity and still have to keep going - I didn’t just read or hear about it.
If you do a deep dive into your own experience - both professional and personal - you will probably be amazed at the options open to you. Writing down as many skills and tasks you’ve performed as you can think of (including the “soft” ones, such as being the one people came to for advice or organising the work Christmas dinner each year) can be a good starting point. Having what you’ve done right in front of you allows you to see it for what it is and can be. For example: if you’ve been an executive assistant → this could lead to offering business management services to multiple small businesses who need help with systems, team management, project management, etc.
Yes, you might end up wanting to do some retraining or studying, but it’s very likely that what you already have is enough to get started on creating new income sources. And if you need help working through what’s next - well, as you saw above, that is one of mine, so feel free to reach out 😉
Til next time,
Joanne
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