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Think Creatively about Supplementing Your Income

Done with Your Career? Consider Consulting

OnYourOwnAs Boomers transition from a full-time career to part-time work in retirement, they have a real opportunity to be a consultant, at least for a period of time. Depending on their field, some Boomers can even make consulting a long-term business. I can tell you from personal experience that consulting is a good way to ease out of a full-time professional career into part-time work during retirement. 

"Consultant" is a term that used to mean a professional with a consulting firm, but nowadays, a consultant can be anyone with professional expertise. Respected retirement expert Kerry Hannon shares these four tips for individuals who want to consider becoming a consultant when their primary career ends: 

  1. Become a member of a local industry association or organization. Join industry groups on LinkedIn. Attend industry and professional meetings and conferences. Keep an eye on the association job boards and let other members know you’re seeking consulting assignments.

  2. Contact your local Chamber of Commerce to help you reach small businesses in your town. These organizations often don’t have funds to hire someone full-time, but may need your expertise and experience. Also check out temporary agencies that specialize in placing experienced professionals in short-term gigs.

  3. Know your rates. Research what other consultants in your field charge. Many consultants have websites where they publish set rates or a range. You might also ask fellow consultants straight out what they charge. Whatever your source, set your rates accordingly based on your experience and skill set.

  4. Market your services to nonprofits which have a mission that resonates with you. They often hire project-based or contract professionals. Consider offering your services pro bono to develop your relationship and gain references for future jobs.

This is excellent advice, part of a longer article about "Working in Retirement" that you can access on Kerry's blog here: http://kerryhannon.com/?p=6125

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