Become a Consultant in Your Old Field

Retirees write off their own expertise as outdated the day they leave, while their old industry keeps paying consultants big rates for exactly that knowledge; the first client is usually the employer or vendors you just left, and almost nobody makes the ask.

1. 1

   Name the problems you solved, not the titles you held

   Buyers hire outcomes: 'I take plant scrap rates down' or 'I get medical device submissions through review' sells; 'former VP of Operations' does not. Write your two or three problem statements first.

2. 2

   Set consultant pricing, not salary math

   A common starting point is a day rate around 1 to 1.5 percent of your old annual salary, or hourly rates of $100 to $300 for deep expertise. You are selling thirty years of judgment, not hours of typing; do not price like an employee.

3. 3

   Handle the simple setup

   An LLC, a contract template covering scope and payment terms, professional liability insurance if your field expects it, and a one-page bio. Check any non-compete or post-employment restrictions before approaching direct competitors of your old employer.

4. 4

   Make the first three calls

   Your former employer (contract or advisory work), the vendors and partners who know your work, and two industry peers who hear about projects. Most retiree consultants get their first engagement from this list within weeks.

5. 5

   Start with defined projects

   An assessment, an audit, a hiring assist, or a monthly advisory retainer ($1,000 to $5,000 per month is common for a few days of senior attention). Defined scope protects your retirement from becoming a job again.

6. 6

   Decide the size you want, and stop there

   Two retainer clients can be $30,000 to $80,000 a year on a few days a month. Know your Social Security and pension income interactions, set your capacity, and let the rest of the demand go; that is the whole point of consulting in retirement.

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