Just because you’re retired doesn’t mean you have to stop working, especially if you still have a passion for what you ‘used to do’ or are equally passionate about trying out something completely different.
A lot of us retirees aren’t ready to throw in the towel and live out the rest of our lives conforming to the age-old definition of what a retiree should be and do.
It’s 2024 for heaven’s sake! Times have changed since our parents retired. And, just to make things clear, a lot of our parents didn’t ‘give up the ghost’ after they turned 65 either. Why? Because they were prepared not to. Financially, emotionally and mentally. They were active players in their retirement years. Certainly mine fit into that category. What about yours?
And, this isn’t to say there weren’t plenty of people who simply wanted to live a traditional retired lifestyle too. Not everyone wants the same things out of life – at any age.
Today’s Retirees Are Active & Engaged
On the whole, we’re among the newly retired generation who do want to continue to be active in every way possible and that includes keeping our minds stimulated and our cognitive neurons firing, our relationships active, our lifestyle vibrant, and our health and welfare up to par! We’re curious and adventurous, eager to learn new things and conscious of our financial circumstances.
Full Speed Ahead!
So, if you’re one of the many retirees who are contemplating another kick at the can when it comes to continuing to be part of the working world, we have some suggestions to make if you’re considering taking up consulting or coaching.
Jobs in Consulting & Coaching
Any retirees considering starting a business where they wish to become a consultant, coach or perhaps a tutor should begin by recognizing these two important components:
- Identify the skills they bring from their previous jobs.
- Acknowledge life lessons they’ve learned both from their employment history and their life in general.
If you’re capable of capitalizing on these key components now you’re retired, you’ll find yourself well-positioned to share your knowledge and possibly use these attributes to earn some extra money and augment your retirement income.
Why Retirees?
When referring to “today’s” retirees, Dolly Garlo, business coach and president of Thrive!! Inc. suggests that “Since they have a lot of life and career experience, a consulting and coaching business suits them well as a new endeavor.”
Ms. Garlo is not alone in her comments. Another source suggests the following:
Retirees should focus on jobs and business opportunities that leverage the individual’s years of work and life experience, such as consulting, teaching or tutoring.
— Jamie Hopkins, Esq., assistant professor of taxation in the Retirement Income Program at The American College in Bryn Mawr, Pennsylvania, and associate director of the New York Life Center for Retirement Income.
Start with the Five Ws
Once you begin to brainstorm ideas of how you can become a consultant or coach, you may want to start by asking yourself a few basic questions such as:
- Who would be my customers?
- What kind of consulting/coaching excites me the most?
- Where do I want to work from? A traditional business location, like an office, or will I be able to work virtually?
- When do I want to work? All day, half a day? Seasonally? How much time do I want to spend working? Is my time flexible?
- Why do I want to return to work? What’s my motivation?
Know the Difference
Often when a person decides to follow up on their dream of becoming a consultant/coach during their retirement years they forget to ask this last key question:
Can my potential business customers actually pay me?
As Ms. Garlo says:
This will determine whether what you provide becomes a hobby or charitable endeavour or is an actual business.
There’s a world of difference between giving thoughtful, positive advice to acquaintances and friends and packaging and presenting that advice in a manner that is actionable and – above all – billable.