Consulting Jobs in Retirement
are Very Popular

Consulting jobs in retirement are a very popular path for someone who is looking to get back to work or stay connected within the industry and could use the extra income.  When you consider your experience within the company and industry, it makes sense for an employer to consider the investment they made in you throughout the years and use your expertise and experience going forward.  Many employees, in fact, leave their job with a consulting agreement in place as part of their exit strategy.  Depending on your employer and the position you held, there may be some restrictions on going to a competitive company in the same industry for a certain period of time (usually five years) but, unless you’re a high profile executive or have information that would divulge sensitive information, these agreements can usually be worked out fairly easily.

As with any business relationship, the details should be discussed ahead of time and agreed to.  Compensation should be discussed and what time is and isn’t compensated for.  Things to consider are travel time and expenses and work done outside the corporate facility.  If there is written documentation prepared, ownership rights should be fully divulged.

You should also look at all aspects of your career when you consider what areas to offer your consulting services in.  We tend to downplay the skills we have acquired.  After decades of experience in Corporate America, I realized that I gained a lot of experience outside of my core discipline.  Managing for any length of time in a corporate environment gives the typical professional experience in management theory and even some human resources disciplines.  Succession planning and review processes, for example, are two areas that a seasoned corporate professional has gained experience.  Perhaps the biggest, however, is project management.  Any mid-tier executive in a billion-dollar corporate enterprise has gained more experience than they realize compared to the typical start-up enterprise and your years of experience can be a resource for that young company.  Don't sell yourself short when it comes to what you've learned during your decades as a "prisoner" of Corporate America.  I gladly offered my services for free to a friend who was starting his own company, and he always offered to pay me for my advice.  I was flattered.  But I was never ashamed to indulge in the free dinners he always treated me to as part of our consulting sessions.  The bottom line is that, after decades of experience, you have learned as much as some college professors, and you should never underestimate what your knowledge is worth.

Consulting Jobs can be a
Lucrative Source of Extra Income

Many retirees find consulting jobs a lucrative source of income and a nice transition to retirement life.  If you have financial skills such as financial planning, accounting or tax preparation, these types of skills can easily be worked into a consulting agreement.  The advantage is that you can control the amount of time you work and the requirement on both sides should be clearly understood by both parties ahead of time.  Many agreements come to an untimely end because the expectations were never made clear.  If you want to schedule a vacation, for example, this should be communicated as well as your access during weekends and evenings.  Many companies assume that, if they’re paying for it, you can be “on the clock” whenever they need you to be.  It’s a topic that should be fully discussed ahead of time.

In most circumstances, a written contract is advisable, and this type of agreement should be an easy thing to accomplish.  Many companies have a standard agreement so there is usually not much of a choice except for some of the details.  You may want to consult with a lawyer if this is going to be a business that you want to develop in your retirement.

Although consulting jobs have been offered to me, it is not something that I have chosen to do because of the sheer enjoyment I find in retirement.  I always hated being told what to do and having to be in a certain place at a certain is not something I choose to do anymore.  However, consulting jobs are a way to manage your schedule within reason and represent a good way to supplement your income if that is something you need or choose to do.

Don't ever overlook the possibility of starting a little consulting business in retirement and don't limit yourself to that customer-to-customer relationship.  You can offer books and courses on the internet, and a search of YouTube will give you an idea of what is possible.  Starting your own little website or channel should be something that you consider.  More retirees are starting internet businesses than you realize and there's a very good reason for that: it works!  Retirees are starting websites all the time, and I am one of them.  In a way, this website is my own consulting business, and it's focused on making the most of your retirement years.  You can have your own business focused on something that interests you.  Yes, you can have a consulting business about your work experience, but will that really get you excited?  How about a website about your real passion in life like golf, European travel, sausage making or even the wonders of French wine.  There is no limit.  One day of researching the internet will prove that and the numbers of people running their own profitable websites is the best reason to consider starting one of your own.  Turn your passion into an income stream and elevate your retirement lifestyle in a way that you never thought was possible.  Explore the possibilities.  It's time to Enjoy Retired Life!

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