Create a Purpose Portfolio
In my work advising CEOs and senior leaders as they leave long and successful careers, I talk with clients about their hopes, dreams and ambitions for their “third chapter” of life. These conversations have helped me realize that retirement, as we once knew it, is over.
“Retire” means to withdraw, to step back, to retreat from relevance. It’s an utterly inadequate concept for the vibrant, purpose-driven chapter that my clients envision for themselves.
Today, with longer lives, better health and rising ambition within reach for so many people in their 60s, 70s and beyond, the retirement model — and the mindset that goes with it — are outdated. It’s time to replace “retirement” with re-inspirement.
“Retire’ means to withdraw, to step back, to retreat from relevance. It’s an utterly inadequate concept for the vibrant, purpose-driven chapter that my clients envision for themselves.”
For many of the people I work with, the third chapter offers a second chance at adulthood. The challenge that comes up again and again is how to find purpose that lasts.
That’s where the idea of a purpose portfolio comes in.
Most of us have spent decades meticulously managing our financial portfolio. We’ve diversified, sought returns and hedged against risk. But few of us have approached our own purpose for being with the same discipline, despite ample scientific evidence showing that people who have a sense of purpose live longer and remain healthier than those who do not.
What is a Purpose Portfolio?
What if we thought of purpose as a portfolio too — one made up of intangible assets that work together to create a balanced, fulfilling next chapter of life? Like any good portfolio, it should be diversified, adaptive and regularly reviewed. It comprises three core “assets”:
Productive Assets – Your Growth Stocks
These are the skills and talents that have shaped your working life. They don’t disappear when your job title does — they just need a new outlet.
Self-knowledge is key. What are the things you love doing — not just what you’re good at, but what energizes you? What skills do you want to develop next? Lifelong learning isn’t a luxury, it’s a longevity imperative.Vitality Assets – Your Blue-Chip Stocks
No portfolio thrives without energy. Vitality assets include your relationships, caring for your health and emotional resilience. Who are your people? The ones who make you laugh, lift you up and challenge you to be your best self?
And how’s your body holding up? What activities, experiences or sports do you want to be doing in your 70s, 80s and 90s? What can you do now — exercise, movement, nutrition — to make that possible? Health challenges need not interfere with leading a purposeful life. People dealing with illness or injury may find they have much to give and even feel reinvigorated by it.
Your career may have brought status and stimulation — but it also provided structure, social interaction and rhythm. All of those need replacing. Neglect this part of the portfolio and burnout or boredom can sneak in. Loneliness can kill. Investing in your vitality is investing in your future self.Transformation Assets – Your Long-Term Stocks
Not just what you do or how long you can do it, but why it matters and who it serves. These are the deeper elements — the causes, communities and commitments that give life meaning. What do you want to stand for in this next chapter? Who do you want to serve?
Not retired, but repurposed. Because here’s the secret: Your deepest purpose often isn’t new. It’s something you’ve always known but are only now ready to act on. As David Bowie said, “Aging is an extraordinary process whereby you become the person you always should have been.”
One of my former clients, Luke, an orthopedic surgeon, wanted for decades to return to his boyhood passion of carving and sculpting. He now creates abstract sculptures inspired by human form. At the age of 65, Luke reinvented his skills and, in his words, “traded the scalpel for the chisel.”
Transformation assets might show up in mentorship, activism, creative work or entrepreneurship. For many, starting something entirely new is key. In fact, some of today’s most successful entrepreneurs are in their 50s and 60s with decades of experience, wisdom and crystallized intelligence that improve their odds. Masako Wakamiya, a 90-year-old tech evangelist, started her banking career in Japan when the abacus was still in use. After retiring, she taught herself to code, and at 81 launched a smartphone gaming app for seniors and was invited to meet Apple CEO Tim Cook.
How to Get Started
Here’s the good news: You don’t have to get it perfect, any more than you can be expected to pick only winners in the stock market. You will rebalance the assets in your purpose portfolio over time as conditions and priorities evolve, just as you do with your financial plan.
The key is to start. And here are steps you can take:
Audit your assets. What skills, connections, interests or passions have you underused?
Diversify your time. Experiment with different types of engagement — paid, unpaid, solo or communal. Make space for relationships and vitality.
Rebalance your portfolio regularly. Life changes, and so should your purpose mix. If this chapter is going to be a third of your life, it deserves as much attention and imagination as the ones that came before.
It may feel uncertain at first. But as we learn to reimagine our 60s and 70s not as an ending but as a launchpad, we can build portfolios that grow not only wealth, but also purpose, connection and joy.
