Mini Retirements to Practice for Early Retirement

Jillian and Brenda explore Brenda's journey of taking a mini-retirement to rediscover herself through hiking and writing. Brenda shares her experiences of stepping away from a traditional career to embrace nature and the writing process, discussing the emotional and financial aspects of this transition. They delve into themes of trust, community among hikers, and the importance of redefining success in a personal context. Brenda offers insights on using writing as a tool for self-discovery and provides advice for those considering significant life changes. Takeaways: Brenda took a mini retirement to focus on hiking and writing She set a goal to hike a thousand miles in five months The experience helped her redefine what success means Community among hikers fosters positivity and support Writing can be a powerful tool for self-discovery Avoiding naysayers is important for pursuing dreams More information about Brenda can be found at https://linktr.ee/drbrendau

In this conversation, Jillian and JL Collins explore the themes of financial independence, the value of mini retirements, and the importance of life experiences. They discuss the parable of the monk and the minister, which illustrates the balance between wealth and resilience. The conversation delves into the fears surrounding financial decisions and the journey towards financial independence, emphasizing that experiences in youth may not be as accessible in later years. Through a case study of Tom, they highlight the realities of financial setbacks and the importance of confidence in financial planning. In this conversation, the speakers explore the themes of happiness, wealth, and the importance of optimism in life.    Link to Simple Path to Wealth   Takeaways   The parable of the monk and the minister illustrates financial resilience. Mini retirements can enhance life experiences without a catastrophic financial impact. Life stages affect our preferences and capabilities for experiences. Fear of financial missteps can hinder enjoyment of life. Financial independence doesn't eliminate all financial worries. Experiences in youth may not be as accessible in later years. The journey to financial independence can be as important as the destination. Confidence in financial decisions can be built over time. Case studies can provide valuable insights into financial planning. Happiness can exist independently of wealth.  

In this conversation, Jillian and Doug discuss the concept of mini retirements and how they can lead to a fulfilling lifestyle while pursuing financial independence. Doug shares his personal experiences with mini retirements throughout his career, emphasizing the importance of taking breaks, traveling, and spending quality time with family. They explore the challenges and benefits of unconventional choices, the gradual transition to early retirement, and the value of practicing mini retirements to prepare for a fulfilling post-work life. Doug’s Links:  Niche Site Project: http://nichesiteproject.com  YouTube: https://www.youtube.com/@DougCunnington  Doug.Show Podcast: https://doug.show  Mile High FI Podcast: https://milehighfi.com  Homebase: https://dougcunnington.com  Instagram: https://instagram.com/dougcunnington 

Mitch shares his journey towards a mini-retirement, discussing the challenges of decoupling his identity from work, the role of therapy in his transition, and the planning involved in their adventure. He reflects on the joy of spending quality time with family while traveling and the unexpected return to work with a new perspective.  Mitch offers encouragement for others considering a similar path, emphasizing the importance of self-evaluation and planning for a fulfilling life beyond traditional work. Takeaways Mitch and his wife were both working demanding jobs before considering a mini-retirement The financial independence community inspired Mitch to rethink his career path Decoupling identity from work is crucial for a successful transition Therapy played a significant role in helping Mitch understand his feelings about work Planning their mini-retirement adventure was essential to ensure they followed through Living in a camper for 11 weeks brought the family closer together Returning to work allowed Mitch to coach and guide others rather than manage Links:     •    myFIcapsule Episode #23: Our Big Trip Explained!      •    EverdayFI Episode #33: Mitch & Meg’s Money Musings

Jillian discusses the concept of mini-retirements, exploring how much one needs to save to enjoy these experiences throughout life. She emphasizes the importance of planning, budgeting, and finding ways to increase income or reduce expenses to make mini-retirements feasible. Jillian provides practical calculations and strategies for saving, encouraging listeners to think creatively about financing their adventures and maximizing their experiences. Takeaways How saving an additional 6.5% of your income can fund mini-retirements. Finding ways to increase income or reduce expenses is key to financial freedom. Postponing small luxuries can lead to greater experiences later.

In this conversation, Charles shares the inspiring journey of taking a seven-month mini retirement with his family, exploring the motivations behind their decision, the planning process, and the transformative experiences they encountered along the way. He discusses the impact of travel on his children, the importance of adaptability, and how the trip allowed them to reconnect as a family. Charles also highlights the lessons learned about resilience, the value of pausing in life, and his upcoming book that documents their adventure. Takeaways Travel was a shared dream that started on their honeymoon COVID-19 made them rethink the timing of their trip They aimed for immersion in cultures rather than a packed itinerary The trip was a reset for their family values and connections Children showed remarkable adaptability and resilience during the trip Travel experiences fostered growth and confidence in their kids

In this solo episode, Jillian discusses the necessity of taking mini retirements to engage in meaningful activities that have expiration dates, such as family adventures. Jillian reflects on her own experiences and the unpredictability of life, encouraging listeners to prioritize these moments before they pass by. Takeaways Mini retirements allow for experiences that can't fit into weekends Some life experiences have expiration dates that can't be postponed until 65 Life is unpredictable, and we should seize opportunities when they arise Regrets often stem from not taking chances when we had the time The joy of experiences can outweigh the hassle of planning them As we age, our preferences and abilities change, impacting our adventures  

Jacob Wade shares his transformative journey from a high-stress tech sales job to a life of travel and family connection through a mini retirement. He discusses the mental health challenges that led to his decision, the planning and execution of a year-long RV trip with his family, and the profound impact it had on their lives. Jacob reflects on the shift from a corporate career to entrepreneurship, emphasizing the importance of embracing risk and prioritizing personal fulfillment over financial metrics.   Takeaways   Jacob experienced a mental breakdown due to work stress and travel demands. Jacob's journey highlights the importance of mental health and family connection. He realized he didn't need to reach a financial finish line to make life changes. The FIRE movement can create a mindset that limits freedom vs create it.  He learned that life is about the journey, not just financial goals. The risk of staying in a job you hate can be greater than the risk of change.   Follow and Connect with Jacob:   YouTube.com/@Roadmapmoney Instagram.com/@roadmapmoney threads.net/@roadmapmoney

In this conversation, Stacy shares her experiences part way through her mini retirements. She shares how she created distinct phases. While explaining the importance of having a structured yet flexible approach to this career break. We cover how she overcame one more year syndrome and the fear of losing out on that extra income.  Takeaways She felt the need for a better work-life balance due to her stressful job. The group coaching provided valuable support and perspective. Hesitations about leaving a stable career are common but manageable. Volunteering unexpectedly became a fulfilling part of her journey. Flexibility in planning is crucial for a successful mini retirement. Prioritizing rest before tackling new challenges is beneficial. Calculating financial implications helped Stacy make informed decisions.

In this episode, I explain that a month is an ideal starting point due to the ease of negotiation, lower costs, the ability to achieve significant personal goals, and the chance to practice for longer breaks. The conversation then moves into strategies for negotiating time off, emphasizing the importance of a collaborative approach and the recognition that negotiation is often a multi-step process. I then detail the importance of crafting a compelling narrative when negotiating a mini-retirement. She outlines four key elements for framing the story: it should be positive, interesting, specific, and ideally a one-time event. Throughout the discussion, she offers practical strategies for framing the conversation, addressing challenges, and using compromise to create a win-win situation for both employee and employer. You can request access to the 2 free resources to plan an incredible 1-month mini-retirement at http://retireoften.com/onemonth