This is not our parent's retirement! A blog for pursuing encore careers, side hustles and gigs in retirement.
Friday, October 4, 2019
Consulting and knowing your worth - Hustler Daily Thumbs Up - October 4
Hello fellow Encore Hustlers
Consulting can be a very profitable second act for many encore hustlers. So why not cash in on your years of experience and expertise by pursing a consulting gig?
At one time when Mr EH was working for a consulting engineering group we found that, in many cases, it was difficult to compete against retired engineers who could undercut our hourly rates.
In most cases they could earn more than they did pre-retirement, and they could still beat our rate sheet.
After all, a second act consultant didn't have our office overhead, and didn't have to pay for benefits such as health insurance, vacation and 401k. Also, to find clients, they could tap into a rich networking pool of their former employers, customers, suppliers and industry committees.
If you are considering consulting, read this article from considerable.com. The article has good points about how how to prepare to be a consultant and how to get over the hurdle of negotiating your rates.
Also check out the website irelaunch.com which is dedicated providing resources to professionals returning to the workforce after retirement.
I would love to receive any comments or feedback from this post. If you have ideas for posts or would like to be featured in a future post please contact me.
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