50+ and Need More Income? Maybe It’s Time to Start Consulting


If you’re 50+ and need more income, what would it look like to earn extra money as a consultant, coach or trusted adviser?

If you believe it’s time to start consulting, this could be a great way for you to generate income.

Talk about taking the pressure off your portfolio, what if you had a way to make some extra money by building a small, part-time business as a consultant coach or trusted adviser to people who would gladly pay you to solve their problems?

Earning extra money at 50, 60, and older is simple with a job as a consultant. But this doesn’t mean it’s easy. The primary thing that holds most of us back is the inability to find and keep paying customers; sales, marketing and digital marketing.

Despite the challenge of finding customers, consulting can be one of the most rewarding part-time positions a retiree can have, with flexible hours and competitive pay rates. Anybody can become a consulting professional with a bit of research and networking. But never forget the crucial importances of being able to find people who will pay you for your talents, ability and knowledge.

Being a knowledge worker is not new, nor is being a consultant. In fact, if you’ve been successful at this before, and even if you haven’t, there is always a market for well-positioned, able consultants and coaches. No matter what your field of expertise is, there’s sure to be people or businesses willing to pay for your advice. If you need extra income during your golden years, consider becoming a consultant and doing it in a way that fits with your purposeful retirement plan.

Love To Consult? Get Paid

Purposeful people love to give. We share our gifts and this empowers us to do more. Purposeful people can also make a great, part or full-time living as a consult; get paid to do what you love.

Your decades of experience and knowledge of a field don’t have to go to waste when you become a consultant. Put your years in a career to good use during your purposeful semi-retirement by teaching others the tricks of your trade. Virtually every industry can benefit from a consultant. Finance, advertising, marketing, web design, writing and editing, beauty and fashion – you name it, there’s demand for consulting because people have problems they need solved.

If you take a leap of faith and plan to become a trusted and reliable source of information in your field, approach as a great way to make money all while helping others. The benefits of consulting for 50+ people are numerous beyond the stimulation of the challenge, meeting new people, learning new skills and more …

  • Be your own boss. Start fresh even if you’ve had a prior business. If not, be the boss now.
  • Work as much or as little as you want. You get to pick how much you work and charge.
  • Enjoy a flexible schedule. It’s up to you.
  • Take vacations whenever you want.
  • Work from home or wherever you want.
  • Take control of your life by focusing on serving, learning and earning.
  • Supplement your retirement income with consulting income.
  • Stay busy during retirement and avoid the risk of getting bored.

Offering your skills to other people, solving problems, and making recommendations can be the highlight of your retired life. It’s the ideal career for people of all ages and lifestyles. If becoming a consulting professional sounds like something that would make your retired life more enjoyable, find out what it takes to get started.

How to Become a Consultant

Whether you imagine consulting part time as you travel the world or settling down as a full-time consultant for your old company, becoming one is simple. The first step toward consulting is to find out if you need special certification or licensing in your field. Becoming a real estate consultant or accountant, for example, requires special certifications. You may want to get certified in your field anyway, to look better than your competitors do. In many cities, you may also need a municipal business permit to practice as a consultant.

Becoming a consultant doesn’t have to be complicated or expensive. In many cases, all it takes is getting your name and contact information out there. Start a website and social media profiles promoting your new career. Hand out business cards at local businesses, markets, and venues. It may take time to build a solid list of clients, but a great part of being a consultant is that you can take on as many or as few as you want.

Create a simple business plan, including your target customers and income goals. Learn as much as possible about how to become a successful consultant, including the computer programs, hardware and other systems you may need. If you aren’t sure what to charge for your services, look at what your competitors charge. Then, enjoy your new life as a consultant and all the perks that come along with this exciting career!

What do you think about being a consultant for the first time? Or how do you feel about being a coach or consultant again, possibly in a new field you have begun to master.

We always appreciate your questions and comments below.

About the author


Founder and publisher of RetireOnPurpose.com. "Let us help you create the retirement plan, income and life of your dreams."