Embracing Mini retirements for Financial and emotional freedom

The Concept of Mini Retirements

Mini-retirements differ from the traditional model of retirement by spreading periods of rest and exploration throughout one’s career rather than postponing them until later in life. This approach allows for a more balanced distribution of work and leisure, providing regular opportunities to recharge and realign with personal goals and values. The idea is to enjoy life in the present while still preparing for the future. 

Benefits of Mini Retirements

More Financial Freedom

One significant advantage of mini-retirements is the opportunity to reassess financial goals and strategies. Taking a break might offer a chance to gain perspective on spending and saving habits, leading to more mindful financial decisions. These periods can encourage a reassessment of what is truly important, possibly leading to a more sustainable and satisfying financial life. Sometimes, when we are in the midst of working and saving, we can fall into the habit of just going through the motions and hitting our goals. Mini-retirements can allow for a reassessment of sorts as to your priorities and lifestyle.

More Emotional Freedom

When I first decided to take a 3-month break, all the stories that I had suppressed with money came to the surface. Stories like “you can’t take a break; you need to be working” and “you can’t touch your retirement and investment accounts”. The real value of the mini-retirement allowed me to create space. Space for me to ponder what kind of life I wanted to create? What kind of business did I want to create when I came back? What was important to me, and was I actually living my life the way I wanted to? 

Mini-retirements might also contribute significantly to emotional well-being. Regular breaks from the routine can reduce burnout and stress, fostering better mental and emotional health. These intentional pauses offer time to pursue passions, hobbies, and interests that often get sidelined. Engaging in activities that bring joy and fulfillment can enhance overall happiness and life satisfaction.

Additionally, mini-retirements can improve relationships. Spending quality time with loved ones without the distraction of work responsibilities strengthens bonds and creates lasting memories. Emotional well-being is often closely tied to the quality of our relationships, and mini-retirements can provide a valuable opportunity to nurture these connections. One of the things that I wanted to spend time doing during my time off was being present with my child. I realized that most of her younger years were spent with a half-present mom. I wanted to give her the time now that I didn’t when she was younger. 

Planning and Preparing for a Mini Retirement

Financial Planning

Planning for a mini-retirement involves evaluating the current financial situation and setting goals. Ponder how much travel you would like to do and how long would you like to be off for. It’s beneficial to assess savings, investments, and potential sources of passive income. Creating a dedicated mini-retirement fund or having a fund  might provide peace of mind and reduce financial stress during the break. This fund can be built gradually, allowing for a smoother transition when the time comes to take a break.

Choosing the Correct Time for You

The timing of a mini-retirement can vary based on individual circumstances and goals. Factors to consider might include career stage, personal milestones, financial and emotional readiness. I think emotional readiness might be the most important factor here. Although we can never eradicate our fears completely, feeling a state of peace and neutrality is better to go into a mini-retirement than stress and financial worry. Getting clear on your reasons why you want to take time off and recognizing that if you think that the issues/problems that you experience currently are going to magically go away during your time off, is not the energy you want to enter into with a mini-retirement.

Making the Most of a Mini Retirement

Engaging in Hobbies and Interests

One of the best things I loved about my mini-retirement was I got to be a kid again.  I got to explore what I loved to do for hobbies and what I didn’t enjoy.  I got to really figure out who I was for the first time in my life.  I had created the space to do this.   It’s going to be different for each person as to what lights them up and brings them joy so get curious and play with this.  I read Play by Stuart  Brown and I learned how each of us have different play personalities.  I was willing to experiment and try different things.   Don’t let the adult mind tell you that you should know what you like already or that it’s a waste of money if you try something and you don’t like it.  Part of taking this time off is to help you tend to your inner child.  

Travel and Exploration

Travel was one of my favorite ways that I got to spend my time. Seeing different cultures, meeting new people, and realizing after talking to hundreds of people that we’re all the same. At our core, we want to love and be loved; we want to enjoy ourselves; and we want to connect with others. Traveling allowed me to see that I was taking life too seriously before and how precious each moment is. I felt so much gratitude for the experiences that I had because they provided me with such fresh perspectives.

Learning and Personal Development

Mini-retirements can also be an ideal time for learning and personal development. Taking courses or workshops to acquire new skills or deepen knowledge in areas of interest can be incredibly rewarding. I’m a huge proponent of learning and evolving. Just be mindful that you aren’t swapping working for self-development. This is what I did in the beginning, and it took me a while to figure it out. I began to look at self-development as another job. I was so used to having my days filled that I didn’t know what to do in the beginning. So I was using courses and books to fill up my time.

Rest and Rejuvenation

Sometimes, the best way to spend a mini-retirement is by simply resting and recharging. It’s not the most exciting and sexy suggestion, I know.. And also, in a culture where we praise hustle, lack of sleep, and a jam-packed calendar, part of the lesson is to slow down and rest. Practice being bored. It’s not something that our culture suggests or thinks is valuable. It might feel very weird at first because not only are you used to having a tight schedule, but your body is used to it too. Our bodies are amazing. What we practice often, we get more of. If we are used to rushing and having a jam-packed schedule, our bodies are going to feel weird sitting. It doesn’t mean anything has gone wrong. It just means we haven’t built the skill to slow down and be with ourselves. Allowing yourself to rest without the pressures of daily responsibilities can be deeply restorative, and it can also bring up stories that are repressed. Stories like “we’re being lazy” or stories around our identity and what value we are adding to society. This was something that I experienced that I didn’t even know was bubbling below the surface. Since I wasn’t working, I had to figure out where my value came from. I had spent so many years thinking it came from the money I made/saved or the job that I had. It took some time for me to realize that our value is inherent and that I am worthy of rest and play. And so are you.

Reflecting and Realigning

Using this time to reflect on career and life goals can be highly beneficial. Assessing what’s working, what might need some adjusting, and how to realign one’s path to better suit personal aspirations can lead to greater clarity and purpose. Mini-retirements can provide the space needed to make these important reflections and adjustments.

Overcoming Challenges

While mini-retirements can be incredibly rewarding, they also come with challenges. Financial concerns and societal expectations might be significant hurdles. However, with careful planning and a focus on personal empowerment, these challenges can be managed.

Addressing Financial Concerns

Building a financial plan and having a dedicated mini-retirement fund can help mitigate financial concerns. Exploring alternative income streams or flexible work arrangements might also provide financial security during the break. It’s about finding a balance that works for you.

Navigating Societal Expectations

Societal expectations about continuous work and traditional retirement can pose challenges. It’s important to remember that career and life choices are unique to each individual. Embracing the idea that it’s okay to deviate from the norm and prioritize well-being can be empowering. It’s your life; really getting clear on how you want to live it is so important.

Finding evidence of people just like you that have taken a mini-retirement

Hearing about others’ experiences with mini-retirements can be inspiring and motivating. These stories might provide valuable insights and practical tips on navigating one’s own journey. For instance, some people have used mini-retirements to travel the world, start new businesses, or pursue lifelong passions. These anecdotes highlight the transformative power of taking intentional breaks and how they might lead to greater happiness and fulfillment.

My final thoughts

Mini-retirements offer a unique approach to achieving financial and emotional freedom. By embracing the idea of taking intentional breaks throughout a career, one might find a more balanced and satisfying way of living. The journey towards mini-retirements is personal and flexible. It’s about exploring what works best, staying open to new possibilities, and enjoying the freedom that comes with taking control of one’s life and career.

Mini-retirements are not just about taking time off work. They are about living a life filled with experiences, growth, and joy. By planning and preparing for these breaks, choosing the right timing for you, and making the most of the time off, a life that truly reflects values and desires can be created. So, consider embracing a mini-retirement as a path to financial and emotional freedom, and see where this journey might take you.

As always, from my soul to yours,

Erin