What Is a Mini Retirement? Will it Lead to More Adventure in Life?
Mention retirement and you will probably picture white hair, lawn bowls, golf or none of the above if you have your own grand plan (congratulations if you do). But mention a ‘mini retirement’ and you will most likely be at a loss to what it is exactly, or what it even looks like.
WHAT IS A MINI RETIREMENT?
A mini retirement is a concept that is quickly gaining popularity. The traditional way of retirement, that is, retire at 60 and sail the world in a yacht type dream still does exist, but in an uncertain world with uncertain stability, many people are now dawning on the idea of taking shorter breaks in between periods of work and life.
This is what normal retirement looks like:
And this is a mini retirement:
Lots of smaller 2-12 month breaks in between working periods. A mini retirement is the new way to enjoy life and get the best of both worlds.
You have time and you have experiences, and you still make money, just not as much as with a normal retirement.
Taking mini retirements, you may end up with a smaller house, a bit less money, or you don’t make it as a CEO at 60 years of age. But instead, you’ve already done most of what you wanted to do in life (there's always more of course).
The key concept in a mini retirement is the fact you work towards time and experiences holding value instead of money.
There's also the idea of the early retirement. You know, start some business that makes you rich, invest in stocks and property or just work your ass off, really hard.
But the problem with the early retirement idea is this: It’s risky.
It might work. Or it might not.
The great thing about mini retirements is there’s no set way to go about them. You can do it in whichever way you want! And because they are manageable goals in smaller chunks, they are far more successful, and less risky, than trying for an early retirement.
WILL A MINI RETIREMENT LEAD TO MORE ADVENTURES?
This was the big question for me when I choose to have a mini retirement. I spent close to a year saving and planning for it.
Will I have more adventures by taking a mini retirement? HELL. YES!
By taking over 9 months off work, I definitely got a lot of stuff done I wouldn't have otherwise. I was able to relax when I wanted, take my time enjoying the activities I love doing, and go out on the good weather days while resting on the bad.
In fact, some days I was begging for some rain just so I could take a rest day!
But what a mini retirement does most importantly in terms of your adventure needs is give you the freedom to explore.
Holidays are usually short and make you race through experiences. Taking a mini retirement allows you to fully enjoy the journey.
You can get better at skills as well, and focus on what you really want to do. I wanted to try ice climbing at hit a certain grade and be comfortable lead climbing. I did that. I wanted to try living in a van to do the ‘vanlife’ thing. I did that too.
The other problem with normal retirements and adventure is you’ve missed the golden years of physical health you may need for certain experiences.
Sure, you can stay fit and do your best with your health, but sometimes there's not much we can do about it. Even the healthiest, fittest of us can be struck down with illness when we least expect it. There's truth in Carpe Diem after all.
Let's face it, doing adventure sports gives you a good advantage in physical abilities and experience, the younger you are when you start. You can still do amazing things in your later years of course, but if you really have worked so hard in your career to hit an earlier retirement, for example, it might not work. There’s that risk again!
Conclusion: MINI RETIREMENTS ROCK!
So how do we take one and make it all work? What about the gaps in your resume? Won’t people advance in their careers while you don’t? What about finding the money for it?!
Read on in the next post on how to have your first mini retirement: