Carol Berning’s career as a consumer psychologist has always been ahead of the curve. After 34 years with Procter & Gamble, Carol retired but didn’t stop working. Instead, she transitioned into consulting, enrolling in three professional management consulting firms. Now at 64, she works about half as many hours as she did before but earns nearly the same salary as when she was full-time—a low six-figure income. Her story is an inspiration for those looking to bridge the gap between full-time work and retirement through consulting.

The Rise of Phased Retirement and Consulting

As baby boomers approach retirement, many are choosing to continue working but in a more flexible, part-time capacity. According to a 2013 retirement study by Merrill Lynch in collaboration with Age Wave, nearly half of participants expressed a desire to continue working in their chosen fields after retiring. This trend is supported by projections from the Bureau of Labor Statistics, which indicate that by 2022, business and professional services will be among the top industries for job growth, trailing only health and social services.

For many older Americans, transitioning to a “bridge job” or consulting role before fully retiring offers the perfect balance between maintaining an income and enjoying the flexibility that retirement brings. Research by Kevin Cahill, a research economist at the Sloan Center on Aging and Work at Boston College, found that 60 percent of older Americans who have a career transition to a bridge job before retiring. “Older Americans want to maintain their work, to get hours, flexibility, and choice,” Dr. Cahill said.

Action Steps: How to Transition into Consulting

1. Identify Your Expertise and Marketable Skills: Before diving into consulting, assess your skills and expertise. What unique knowledge or experience do you bring to the table? Consider industries that are growing and in need of experienced For example, Carol Berning chose to work with consulting firms like YourEncore, Cincinnati Consulting Consortium, and Leonora Polonsky and Associates, all of which specialize in areas where she had significant experience.

Apps and Websites: Platforms like LinkedIn are invaluable for building a professional network and showcasing your expertise. You can also explore opportunities on Upwork or Freelancer, where businesses often seek consultants.

2. Join a Consulting Firm: Many firms specialize in hiring experienced retirees as consultants. These firms can connect you with clients who need your expertise. For instance, YourEncore focuses on consumer goods, life sciences, and food sciences, while Cincinnati Consulting Consortium recruits consultants in marketing, IT, and Apps and Websites: Research firms that align with your experience. YourEncore and Cincinnati Consulting Consortium are examples of firms that cater to experienced professionals looking for consulting opportunities.

3. Consider the Benefits of Phased Retirement: While some may prefer to continue working with their current employers, corporate America has been slow to embrace phased retirement. However, opportunities are growing. For example, the federal government began offering a phased retirement program where eligible employees work part-time while mentoring younger workers.

Apps and Websites: If your employer doesn’t offer a phased retirement program, consider discussing the possibility with them or explore alternative consulting roles. Websites like AARP offer resources and information on phased retirement options.

4. Prepare for the Transition: Consulting can provide significant intellectual stimulation, keep you connected to your field, and offer the flexibility to work on your However, it’s important to plan your transition carefully. This includes understanding how consulting income will affect your retirement savings and taxes.

Apps and Websites: Use tools like TurboTax to estimate your tax obligations, and Personal Capital to manage your finances as you transition into consulting.

At Age Brilliantly, we believe that retirement doesn’t have to mean the end of your professional journey. For many, consulting offers an ideal bridge between full-time work and full retirement. It allows you to stay intellectually engaged, maintain an income, and enjoy the flexibility that comes with setting your own hours.

Beyond the financial benefits, consulting can provide a sense of purpose and fulfillment in your retirement years. As Carol Berning’s experience shows, consulting can even lead to new adventures—whether it’s racking up frequent-flier miles or mentoring the next generation of professionals.

We encourage you to explore the possibilities that consulting offers as you approach retirement. It’s a chance to leverage your years of experience in a way that suits your lifestyle, keeps you connected to your field, and continues to make an impact.

Are you considering consulting as part of your retirement plan? We’d love to hear your thoughts, experiences, and questions. Join the conversation in our Age Brilliantly Forum and connect with others who are exploring this exciting opportunity.