For young professionals, burnout and stress exhaustion are incredibly common due to the high amounts of pressure they face in their careers. While vacationing and taking time off is one way to combat this, a mini retirement might be an even better solution.
Traditionally, retirement is a period of life that people look forward to after years of hard work. However, for young professionals, retirement might not be the best option. Mini retirement is a new trend that is gaining popularity as a way for young professionals to take a break from their career without having to completely retire.
So, how can you go about planning your own mini retirement? This article will discuss the benefits of mini retirement and provide tips on how to plan for this unique opportunity.
What Does a Mini Retirement Look Like?
As mentioned, a mini retirement is simply taking a break from work, but on a much smaller scale than full-blown retirement. It could last anywhere from one to six months, and the idea is to use this time to travel, relax, and recharge your batteries before returning to the workforce.
There are no set rules for how you should spend your mini retirement, but it's a good idea to have some sort of plan in place. Maybe you'll want to visit all the places on your bucket list, or maybe you'll just want to relax on a beach somewhere. The key is to do what makes you happy and helps you rejuvenate for your next career chapter.
Why Should You Plan a Mini Retirement?
There are a number of reasons why young professionals might plan a mini retirement, and they aren't all related to stress or burnout. If you are in your twenties or thirties, you may be anxious to make the most of your career and travel the world. A mini retirement can help you do both of those things without sacrificing your future income or job prospects.
It can also be a great way to transition into retirement. If you're not quite ready to give up your career, a mini retirement can be a way to ease into retirement gradually. You can take a few months off to relax and recharge, and then come back to work refreshed and motivated.
Here are a few more enticing benefits of mini retirement:
- It can help you save money. If you're taking a break from work, you won't need to pay for your daily commute or lunch out.
- You'll have more time to focus on your hobbies and passions.
- You will be refreshed, and therefore less likely to make mistakes on important work tasks and documents, such as completing your 1099s.
- You'll be less stressed and more relaxed.
- You'll have a chance to travel and explore new places.
- You can use the time to learn new skills or take classes.
Additionally, if you plan your mini retirement around a time when your company is slow or there are no major projects on the horizon, you might be able to take unpaid leave without any consequences.
Preparing For a Mini Retirement
Going on an extended break sounds exciting, and you may be tempted to just pick a date and go. But there’s more to it than that. Like any other life change, mini retirement deserves careful thought and planning.
Here are some tips to help you get started:
1. Figure out your finances.
Mini retirement can be expensive, so you need to make sure you have enough saved up. How much money you need will depend on your goals and plans for the time. But, as a general rule, you should have at least six months of living expenses saved up – and no outstanding consumer debt, if possible!
2. Create a budget.
Once you know how much money you need, you can start figuring out how to save it up. One way to do this is to create a budget and stick to it. This may mean making some sacrifices, like cutting back on your spending or downgrading your lifestyle.
3. Start planning your trip.
With your budget sorted out, you can start planning your trip. Decide where you want to go and what you want to do. This will help you figure out how much money you need to save.
You should also wrap up any unfinished business at work. For example, do you need to fill out your W-2 form at the last minute? What about reassigning work to colleagues?
4. Make a timeline.
Timelines are an excellent way to keep track of your progress and make sure you’re on track. Create a timeline for your mini retirement, plotting out what you need to do and when you need to do it.
5. Stay positive.
The last thing you want is for mini retirement to be a burden, so avoid feeling guilty about the work you're missing, and just enjoy being in a state of rest. Remember, it’s all about enjoying life and taking some time for yourself – and it’s okay to say ‘no’ if people try to push work on you during your time off!
Mini retirement isn't for everyone, but more and more young professionals are finding it to be a great way to take a break from their career, recharge their batteries, and come back stronger than ever. If you're thinking about mini retiring, make sure to do your research and plan ahead so that you can make the most of this unique opportunity.