346: Finance Friday: How Sabbaticals Make You Happier, Healthier, and Wealthier
BiggerPockets Money Podcast
BiggerPockets
4.6 • 2.9K Ratings
🗓️ 21 October 2022
⏱️ 55 minutes
🧾️ Download transcript
Summary
Taking a sabbatical from work requires a few things: time, money, and the willpower to do some soul-searching. Most people think that they can’t take any more than two weeks of the year off work. They rack up excuses, blaming timing, too many projects, and everything in between. But what if taking a sabbatical, gap year, or any other type of long-ish break was the key to building wealth faster and being a happier, healthier you?
Today’s guest Cindy, left a high-paid, stable job to take some much-needed time off. And after doing so, she’s urging you to do the same. Cindy, like most Americans, hasn’t taken time off since starting her working career. Besides the regular vacations and holidays, there never seemed like a good time for Cindy to take a break, recollect, and ask herself what she truly wanted. After taking a mini-sabbatical, she built up the courage to leave her job and hop off the grid for a bit.
Surprisingly, Cindy’s net worth didn’t dwindle during her time off—it grew! This positive push from the markets and her newfound clarity allowed her to discover new passions, try self-employment, and later snag a much better job while continuing to work towards early retirement. If you’ve been debating taking some time off, this episode will give you all the tips you need to do so!
In This Episode We Cover
Building your list of “alternative careers” to widen your job possibilities
Branching out far beyond your job title and doing more than what your degree is in
How to sample a sabbatical to see whether or not you could handle the real thing
Quitting your job during turbulent times and how to temporarily prepare for life without work
Funding life with a job and what to do before you quit
Planning out your passions so your sabbatical isn’t put to waste
How employers look at applicants who just took a sabbatical (it’s not what you think!)
And So Much More!
Links from the Show
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Transcript
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| 0:00.0 | Welcome to the Bigger Pog and Money Podcast where we interview Cindy and talk about sabbaticals |
| 0:05.4 | And yes, it will take more |
| 0:08.4 | spending more money on these experiences whether it's travel or deep-sick fishing or whatnot, but it |
| 0:15.8 | Like I had never been so happy in life having these experiences actually has |
| 0:22.1 | This almost like investing yourself and pays way more dividends than if you had just like saved that money and didn't go out and take that travel or |
| 0:28.7 | Explore that interest |
| 0:30.8 | Hello, hello, hello, my name is Mindy Jensen and joining me today is my military millionaire co-host David Perray |
| 0:37.4 | What's up everybody? |
| 0:38.7 | David and I are here to make financial independence less scary less just for somebody else to introduce you to every money story |
| 0:45.6 | Because we truly believe financial freedom is attainable for everyone no matter when or where you're starting |
| 0:51.0 | Whether you want to retire early and travel the world go on to make big-time investments in assets like real estate or start your own business |
| 0:57.8 | We'll help you reach your financial goals get money out of the way so that you can launch yourself towards your dreams |
| 1:03.8 | David I am super excited to bring in Cindy today |
| 1:07.8 | She and I met at camp mustache earlier this year and she had a really interesting |
| 1:15.6 | presentation about |
| 1:17.2 | sabbaticals and I thought you know what I need to introduce her to my listeners and I need to share with them |
| 1:23.5 | Her story about taking a sabbatical because it changed her life |
| 1:28.1 | I know I have known several people who have taken sabbaticals that have also changed their lives and what a great concept |
| 1:35.6 | Take a little mini break take a long break and |
| 1:40.0 | Re-evaluate what's going on in your life and see which direction you want to take your life even if you haven't reached financial independence yet |
| 1:48.2 | Yeah, I definitely think it's something to be said for that in fact |
| 1:51.7 | I guess if you were I guess if I think about it right technically I took a many |
... |
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