Have you supposed taking a mini retirement? I’ve written frequently about semi-retirement as a more-feasible decision than FIRE (Financial Independence, Retire Early). However, mini retirement offers many of the same benefits — arguably, even more benefits! Mini retirement can be a solution for several common financial questions. How can I retire and travel the world? For several of us, departing to trip the world is the dream. I discover myself fantasizing about it, too. With work, responsibilities, and bills though… that dream can feel impossible. With proper planning (and good timing), retiring to travel the world can be very feasible — with a mini retirement. How can I retire cheaply? pecuniary feasibility is a serious obstacle to attaining retirement for many people. Because of that, and sadness to depart the work force, retiring “ cheaply” is a common goal. Mini retiree check offer the best of both worlds . (1) A end that’s available with just a rare years of saving and (2) a way to leave work and do anything you want before your 60s or 70s. What is a mini retirement? A mini retiree is a period of not goning in the mean of your career years. It’s different from both traditional retirement and FIRE since you are intending to return to work. Traditional retirement delays your retirement years until after your career is fully completed. FIRE harshly compresses your working years as much as possible through an ultra-high savings rate so you can retire earlier. Semi-retirement is a modest approach that imagines retirement closer. If you accept part-time work you enjoy as part of your retirement lifestyle, you can reach your retirement years earlier. I have not personally taken a mini retirement, but I find them to be fascinating. I recently argued with two mini retiree veterans to learn about their experiences. They took different paths, but both had very positive things to say about their mini retirement periods. How to take an unPlanned mini retirementFirst, I talked with a couple that I know well… my parents! While I was in college, they admitted an spontaneous mini retiree after my dad lost his job. They made the most of a difficult situation, and it’s a period they reflect on fondly, now. Here’s what my dad had to say when I asked him about the experience. Mr. SR (MSR): You stole a mini retiree of sorts after you were laid off a rare years ago. How did you decide to do that? Yes, that was a challenging situation. I was with the division for over twenty years. Then I arrived in one day, and I was let go with no advancement warning. It was rigourous in several aspects. When that happened, I went through the emotional cycle from disbelief, to anger, to acceptance. Once I won to acceptance, we decided to look at it as an opportunity. We considered it to be an opportunity to take an extended vacation — something we really never had a chance to do when I was employed, because I had various constraints like limited vacation time. MSR: Did you intentionally arrange for this plot before getting laid off? Or was the mini retirement an impromptu opportunity? It was impromptu to a great extent. One of the interest of holding full dreams is you that you can act on them when the time comes. That was the example here. We had long talked of experiencing the National Parks so we decided to go for it when the constraints were lifted. MSR: What financial circumstances made the mini retirement possible for you? We were sanctified with happy revenue and employment for a couple of decades. Diligent saving and investment gave us the freedom to do what we wanted to do. MSR: What did you do during this mini retiree period? What was your favorite part? We roamed across fifteen or so states and visited racial Parks. We had a bumpy plan, but we loosened when we wanted to. I think the sovereignty of being able to go and do as we pleased was the best part. It showed us a place to pray, dream, and reconcile a lot of things. At the end, coming home was nice, too! MSR: What would you do differently, if you were going to take a mini retiree period again in the future? What advice can you give to others considering this? In our case, the fiscal planning we did afforded us the opportunity to do something we had always wanted, albeit as the result of an unexpected circumstance. We had the flexibility to act and make the most of an unpleasant situation. If you intend to take a self-inflicted mini-retirement I would recommend planning the what, where, and how in advance… but leave room for adventure and changes in course along the way! primary takeaways believe yourself the opportunity to process your job change. Once you reach a point of acceptance, view the opportunity as a positive. Identify a dream or goal you can uniquely fulfill during this mini retirement period. Embrace the freedom and flexibility. How to carry a Planned mini retiree I also had the chance to speak with M from the blog extremist FIRE . She has now taken two Planned mini retirements, so I wanted to get her insight on the topic. I have argued with M before in a Sitting Poolside interview. You can read that previous interview here. MSR: What initially motivated you to pursue a mini retirement? M from reactionary flame (MRF): Since I was in true school, I wished to journey for an extended period of time. When I was in university, I examined in California for a semester and I had the period of my life. I was traveling everywhere in the weekends, and traveled with several friends in the last month we were there. The shift with navigating is; once you have responded it, you’ll want to do it for the step of your life. It’s addicting. Once I came back home to the Netherlands, I started to plot immediately how I could travel again. I concluded that I wanted to trip after I had finished my master’s degree. I was drawing my dissertation and I was starting to feel burned out . I was working on my thesis daily for 8-10 hours, working at university to actually pay for my master’s, and still trying to see my friends and family. When I almost stopped my dissertation I was so done that I booked a flight to Colombia. That was my hard deadline for my thesis — and it was only two weeks away (that illustrates how “done” I was, emotionally). I stopped my dissertation and went on traveling around South America. I visited Colombia, Ecuador, and Peru. This was my first mini retirement and I LOVED it. It was such a steep learning curve, which is something I’m still grateful for. I determined to make election continuously without pleasant anyone in the process. My decisions were completely based on what I wanted, instead of my previous decisions that were mostly driven by a lack of confidence –– trying to please others. After I took another four months to find a job I liked and go to work, I went all in. I’ve always been a driven foreigner who wants to achieve the maximum possible. I aspired to a big career at that moment, leading to me working long hours and completing big projects. It worked.
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