Retired Execs Turn to Consulting
Looking to earn extra retirement income, many older executives are launching late-life second careers as industry consultants, a new survey shows.
Seventy-five percent of 1,400 Chief Financial Officers recently surveyed by Robert Half International, a Menlo Park, Calif.-based staffing firm, said consulting was a viable post-retirement career option. Respondents cited fewer working hours and extra retirement income as the two most attractive benefits of doing consulting work after retiring.
"Consulting enables experienced professionals to maintain many of the benefits of work, including challenging assignments, competitive compensation and intellectual stimulation, while still allowing time to pursue personal interests," Paul McDonald, executive director of Robert Half Management Resources, said in a statement.
McDonald said employers could benefit by tapping the industry experience and expertise of former senior employees.