333 | How to Plan Your First Mini-Retirement

ChooseFI | Financial Independence Podcast

Jonathan Mendonsa & Brad Barrett | Choose FI Media, Inc

Careers, Investing, Business

4.8 • 5.2K Ratings

🗓️ 12 July 2021

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most people dream of retirement as a single distant finish line. What if you could cross it multiple times—starting now? Brad and Jonathan explore how mini retirements reframe the entire concept of taking time off. Instead of deferring adventure and personal growth until age 65 (or 85, in the Suze Orman scenario), mini retirements let you inject intentional breaks into your working years. Guest Jillian Johnsrud shares how she's woven multiple extended breaks into her journey toward financial independence, and why these experiences have been just as valuable as the wealth she's building. The conversation covers practical planning strategies: how to budget for time off, negotiate with employers, and design these breaks around what genuinely matters to you. Jillian emphasizes the importance of giving yourself permission to dream beyond obligations, and how a clear vision makes it easier to seize opportunities when they arise. The episode also tackles the financial trade-offs—Brad and Jillian discuss why the long-term impact on savings is often minimal compared to the personal growth and clarity gained. Key Topics Understanding Mini Retirements [00:02:00] Jillian discusses her journey to financial independence and how the idea of mini retirements took shape for her. Planning for Mini Retirements [00:09:30] Practical strategies for planning mini retirements: budgeting, negotiating time off, and creating a vision for these experiences. Jillian's Experiences [00:51:00] Jillian shares her personal mini retirement experiences and how they have contributed to her journey toward financial independence. Opportunities and Unexpected Benefits [00:54:00] How taking time off can lead to unexpected opportunities and enrich life. Notable Quotes Jillian: "What if we could start experiencing retirement now?" [00:00:34] Brad: "How do experiences outweigh financial gain?" [00:12:35] Jillian: "It's essential to allow yourself to dream." [00:25:50] Jonathan: "A clear vision empowers you to seize opportunities." [00:08:00] Jillian: "Taking time off opens the door for unexpected opportunities." [00:54:57] Action Items Write down all the reasons why mini retirements won't work for you and challenge each of them. [00:06:20] Map out your ideal day and week during a mini retirement. [00:21:00] Negotiate with your employer early about taking time off, highlighting how it will benefit them as well. [00:35:08] Utilize experiences from mini retirements to define what you want in your future career. Consider unexpected opportunities that arise during these breaks and be open to new paths. Related Resources Adventures Defy Conference [00:57:53] Mini Retirement Planning PDF [00:57:48] ▶ Listen Next: Ep. 335 — Why We Stay in Financial Comfort Zones and How to Break Free | Essential Listening

Transcript

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0:00.0	All right, everyone. Today we're going to be discussing the amazing concept and maybe
0:03.3	slightly non-traditional concept of many retirements. We're doing that with the host of the
0:07.5	amazing podcast every day courage. And let me just set the frame for this. Let's just
0:11.7	establish maybe these four lanes that people find themselves when they start considering
0:15.4	the topic of retirement, the regular path, which is you can retire, you know, never the
0:20.2	Susie Orman path, which maybe is like half a degree better, which is your allowed to
0:24.0	retire when you're 85 years old or when you have $80 million, whichever comes first,
0:29.6	the Hitchell Independence, which says, okay, you can actually achieve retirement over an
0:34.0	intermediate time period. That's the three that kind of we talk about, right? You don't
0:37.2	need to wait until your golden years. You can do this over an intermediate time period,
0:41.3	reclaiming decades of your life. But what if there was something else? What if there
0:45.7	was something that we're able to provide for us the opportunity not to wait until this
0:50.4	intermediate time period to experience a taste of this alternate lifestyle? What if there's
0:56.3	a way that we were able to introduce this sooner? Hence the importance for this conversation
1:00.6	about many retirements. Welcome to the ultimate crowdsource personal financial. This is Choose
1:05.3	a Find.
1:06.3	You're listening to Choose a Find Radio. The blueprint for financial independence lives here.
1:21.6	If you're looking to unlock the secrets to financial independence and early retirement,
1:26.6	you're in the right place. Stay tuned and join a community of like-minded people who are
1:31.5	getting all fans to hear and taking control of their lives in the pursuit of financial
1:36.7	independence. Choose a Find. You're home for financial independence online.
1:41.4	All right, guys. Very excited to dive into this week's topic, talking about many retirements.
	...

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