Consulting: The Way to Almost Retire

Posted: May 18  |  By: Parker + Lynch

So, you’re ready to close the book on a successful career, but aren’t quite ready to stop working completely. This is a common predicament that many seasoned professionals find themselves in. Sometimes, it’s a matter of finances. Other times, it’s simply a matter of wanting to stay sharp. Fortunately, there is great news! You don’t have to pick up a lame hobby to keep yourself busy or wear down your knees and elbows with never-ending shuffle board tournaments. Have you considered signing on to be a consultant? You’ve got the track record to prove you’re an expert and you’ve got a bit of extra time in your schedule. There are plenty of reasons why consulting work is the perfect solution.

Keep Existing Skills Sharp and Pick Up New Ones

One of the most important things in retirement is maintaining a sense of purpose. Many professionals leave their line of work after decades of faithful daily devotion to it and then struggle for daily motivation. By consulting, you not only keep getting to do work and stay relevant, but you also keep skills sharp and develop new ones in a world that continues to advance. It gives you a great reason to get up in the morning.

Flexibility

Speaking of getting up in the mornings, one of the best parts of consulting is that you get to pick the mornings you actually get up to work. When you consult, you’re your own boss. You determine how much work you take on, you have a say in the timeline, and you work where you want. You are the one in control. Don’t like the terms of a specific engagement? Don’t accept it. Do you want a week or two off to go on a Mediterranean cruise or to go visit the grandkids in Florida? Don’t take on any work during that period. It can truly be that simple.

See the World…Like You’re Planning to Do Anyway

Many consulting jobs require travel to different cities, even countries. You can coordinate your personal travel in conjunction with travel for consulting work with firms located in desirable regions. Doing so makes those trips partially tax-deductible.

Expand Your Network

By continuing to stay involved in your industry and consult with multiple companies, you will naturally forge new professional relationships and strengthen existing ones. Chances are, you have seasoned professional contacts in a lot of different places. Consulting offers the opportunity to work and travel with them. It’ll also afford you the opportunity to work with up-and-coming individuals, providing expertise and mentorship to a future generation, leaving a great professional legacy.

Consulting Pay is Actually Pretty Good

Consulting can result in you naming your own price per day, hour, or project. Many consultants can earn hundreds of dollars per hour for their specialized expertise. Considering that consultants generally have extremely low overhead, most of that income goes straight into the consultant’s pocket. This can be a fantastic way to supplement retirement income, fund special personal projects or travel. Just remember to set aside some cash for taxes!

Sounds pretty great, right? We think so too. If you’re ready to take the leap into consulting work and leave your knitting hobby mostly behind, we can help! Right now, there are plenty of companies who are in desperate need of your skill sets and we can connect you with them. Just submit your resume and we’ll follow up with you to talk shop.

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