In Monday’s issue of the New Yorker magazine, Patricia Marx takes a cheeky look at retirement coaches – from those catering to very rich retirees (fees as high as $150,000) to those targeting the bargain hunters among us ($10 for a one-hour session). The goal of many retirees seeking help from retirement coaches is not learning how to cope with the suddenly abundant downtime or finding new hobbies – it’s to help you find your way into your dream career. As Marx puts it, “Baby boomers are not simply delaying retirement; they are retiring retirement altogether by starting new careers.”

Industry Canada backs this up. Forty percent of workers over 65 are self-employed. Of course a bunch of those are people who were self-employed before they hit 65; they just haven’t retired yet. But some of them fall into the ranks of the “boomerpreneurs” – those who’ve decided, for various reasons, to use the free time that comes with retirement as an opportunity to start a business.

(The reasons might include maintaining an income, but retirees also cite accomplishment, staying active and social, and finally having the chance to do something they’ve dreamed of.)

Marx describes a sample coaching she experienced as involving a top-secret 16-page questionnaire; one-on-one meetings with consultants and a psychologist; and a “bridge meeting” – a brain-storming session on what might make her perfect post-career career.

Tina Di Vito, Director of Retirement and Financial Planning Strategies, BMO Financial Group, might be considered a retirement coach. Her advice?

Do your research Take advantage of the resources and network you have built over the years and learn all you need to know to set up your company. This includes gaining industry insight, arranging a new phone number, deciding whether or not to incorporate the business and looking into the potential tax implications.

Consider the pros and cons Think carefully about why you want to start your own business. Being your own boss can offer some flexibility. However, other sacrifices, such as longer hours and a possible decrease in cash flow – both starting up, and potentially over the life of your retirement – may be necessary to ensure your success.

Develop a plan Stress-test your idea and research your marketplace, including what products and services you will offer, the appropriate price point(s), who your potential customers will be and what your sales targets will need to be to cover your costs. Keep your end goal in mind as you build your company and maintain a positive – yet realistic – outlook as you progress.

Seek outside advice Speak to an accountant and a small business banker – financial specialists who can provide insight into setting up your company, market competition and personal and business capital needs.

And if you’re looking for ideas on what role you might take on in your retirement, consider this. In her New Yorker article, Patricia Marx notes that membership in the International Coach Federation has grown by more than 700 percent since it was founded in 1995. It seems that one of the most popular retirement careers might be retirement coach.