Why You Need a Mini Retirement

It’s a tale as old as time. You dedicate yourself to a career for decades and finally, when you are in your mid-60s, you decide to retire.

I know this is one of the more generic retirement goals.

It’s a classic plan and there isn’t anything wrong with it.

But today I want to propose a new idea to you.

Perhaps you’ve been thinking about your new chapter for a while. And let’s just assume that your finances are in good order.

What if you take a mini retirement before you fully commit to transitioning to the next chapter of your life?

Just think about how many potential mistakes you could avoid if you gave this idea an “extended try.”

So what does that even mean?

Well, that’s a good question!

Taking a mini retirement is essentially taking an extended vacation or sabbatical.

It’s like pausing your work life for a couple of months or perhaps even a year. It doesn’t really matter how long it is for it to be considered a mini retirement.

What is important is what you do with that time.

The purpose of a mini retirement is to enjoy your life and to explore what it would look like when you do this full time.

Embracing Life While You’re Able

There are some activities you enjoy doing that you will be able to do for a very long time.

Reading, playing games, chatting with your loved ones over warm beverages, golfing, pickleball…

(This is why I love playing tennis as it’s one of the few true lifetime sports!)

But do you really want to wait until the later years of retirement to hike that mountain trail or visit and volunteer in countries that take a whole day to fly to?

We actually have several clients who do exactly this in their late 70s and even early 80s, but for many people this becomes a bit of a challenge…

The Cure for Burnout

Mini-retirements can be a powerful antidote to professional exhaustion.

I have worked with many clients who were racing to their retirement finish line.

But not necessarily for the best reason.

They weren’t so much looking forward to retirement as they just wanted to escape their daily grind.

For many, they actually did love their career once upon a time.

But things shifted in their life. Their priorities changed, they received promotions that pushed them in a direction they turned out to dislike or management shifted.

Whatever the reason, burnout in your career is extremely common.

Stepping away for a longer period can give you the perspective you need to recharge and come back to work feeling motivated and refreshed.

It Can Help You Work Longer

If you do step away on a mini retirement and it refuels your love for your work once again, it can actually help you work longer.

This may sound a bit ironic, but it’s true!

You may not actually need to retire like you thought you did.

By avoiding burnout, you can make your work life more sustainable and enjoyable.

This allows you to choose to work longer because you want to, not because you have to.

Taste Test Retirement

Have you thought about what you actually want to do in retirement?

Perhaps most of your ideas about retirement come from glossy magazines with smiling faces on golf courses or some other appealing destinations. 

We’re talking about identifying what to do with your life for 16 hours a day for the next 30 or hopefully even more years (assuming you sleep for 8 hours a day which actually gets more challenging to accomplish over time).

Taking a mini retirement is an excellent way to try out different versions of your ultimate vision for your next chapter.

You truly need to discover what you like and what helps you feel happy without work to fall back on.

Now, How to Actually Make It Happen

So let’s say I’ve convinced you that taking a mini retirement is a good idea.

But how do you actually make it happen?

It’s not as simple as just walking away. At least not yet.

This is where a little planning goes a long way.

Get Specific

You can start small. Two to three weeks is a good timeframe if used mindfully.

I even have clients who went to different locations for extended weekends and called it a mini retirement.

Again, it is more important how you use the time, rather than how long it is.

I suggest you first identify what it is that you want to do. 

What adventure do you want to take if time isn’t a constraint?

Job Prep

This will look different for everyone.

For those of you who are business owners or self-employed, this may be as straightforward as giving your clients advance notice of your sabbatical.

I know it’s not always this easy, but you usually have more options when you are in charge.

If you work for someone else, you will need to collaborate with your manager.

The idea is to present it as a “win-win” scenario that shows your employer you’re not just planning on leaving.

You actually want to explore your options and continue with the company.

Depending on your situation, especially if you are one of the key employees, this may not be overly challenging.

Some companies already have a sabbatical policy. So check with HR to confirm.

Can you ask for more PTO in your next review?

If PTO is already at its limit, how about an arrangement with unpaid time off, with the understanding that you’ll continue in your role upon your return?

This lets you step away without formally leaving your job and can be a surprisingly welcome discussion point with some employers.

What’s the Bottom Line?

If you have a specific vision for your retirement, it would help to give it a try before you commit to it.

Figuring out your best retirement is not just about the money. You don’t want to “retire with millions and make too many mistakes.” 

This is actually what happened to one of our clients and you can read about his experience HERE.