Baby boomers are expected to retire much later than their parents' generation. Even if boomers retire from the full-time grind at age 65, many wish to continue working part-time as consultants in their field. It's true that there's money to be made as an experienced management, financial or technical consultant. But there are also thousands of small businesses and start-ups out there that could use your help, but can't afford steep consulting fees. If you've saved up a comfortable nest egg, consider volunteering your time as a business mentor or coach.
SCORE is a non-profit organization that harnesses the experience of 13,000 retired business executives to offer free consulting services to qualifying entrepreneurs. SCORE members belong to over 300 local chapters, where they help neighborhood small business owners develop, market and manage new products and services. According to SCORE, its member businesses generated $19.4 billion in 2010 [source: SCORE].
As a SCORE volunteer, you can work directly with local business owners as a mentor, or even provide consulting services online or over the telephone. Some SCORE volunteers run training seminars or offer a series of classes on a particular aspect of entrepreneurship.