<prompt> Human: Hello - NOTE: Im referring to starting consulting companies after they have retired!I work for a Fortune 10 company. One thing I notice on my LinkedIn account is that many of the bigwigs at the company who have retired already have later started Consulting businessesin their name. I dont believe many of them are actually working or or doing any consulting. My thought is there must be some type of tax advantage in this for them. Can anyone here provide any insight into why they are doing this?Assistant: Even if they are working, why start a consulting company to do it and not just work directly for another company? I do know some of them are not working because theyre friends of friends. I guess I could just ask but I was hoping some redditors could provide some insight to what the financial advantages would be of forming your own consulting company in retirement, whether youre working or not.  <response>: why work for another company? if you have your own, limited consulting firm basically as independent contractorsole proprietorship, you have complete say over what clients you take, how often, the negotiated price, the hours, etc, etc. Its just easier. You certainly wouldnt get that as an employee of another company. These are people who arent doing it for the money its a nice perk, Im sure but actually enjoy the game. 