How and Why I Took a Mini-Retirement, with Bob Lotich

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.7 • 3.6K Ratings

🗓️ 3 December 2018

⏱️ 67 minutes

🔗️ Recording | iTunes | RSS

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Summary

#164: As an entrepreneur, Bob Lotich loves growing and expanding. But after a particularly stressful year, he realized he had burned out. He woke up one Monday morning and, for the first time since he’d started self-employment, he realized he didn’t want to go to work. This was a new and uncomfortable feeling. He decided to take a mini-retirement. He had taken long breaks before. In the past, Bob had taken a full month off of work. This time, he wanted to a more ambitious break. He wanted to take a quarter off. He went to his whiteboard. He wrote the goal “take a sabbatical,” intending for this to last for three months. But then he paused. He wondered if he spelled the word “sabbatical” correctly. He Googled the word, then started reading about the concept. Bob learned that a sabbatical is historically a one-year break. Hmmm. That’s when he changed direction. Bob Lotich shares the reasons he decided to take a full year off work. For more information, visit the show notes at http://affordanything.com/episode164 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything but not everything.
0:10.9	Every decision that you make is a trade-off against something else.
0:13.6	And that's true, not just of your money, but your time, your focus, your energy, your
0:18.0	attention, anything in your life that's a scarce or limited resource.
0:21.8	And so the questions become too forward.
0:23.6	Number one, what matters most to you?
0:26.0	And number two, how do you align your daily decisions to reflect those priorities?
0:29.9	Answering these two questions is a lifetime practice.
0:33.8	And that's what this podcast is here to explore.
0:36.2	My name is Paula Pan.
0:37.2	I'm the host of the Afford Anything Podcast and the founder of Afford Anything.com.
0:41.6	Today, Bob Lottick joins us on the show to talk about why and how he took a mini retirement.
0:48.7	I've known Bob for several years.
0:50.5	Bob is a 30-something entrepreneur living in Franklin, Tennessee.
0:54.5	He is not financially independent, but he did at one point realize that he was burned
1:00.4	out from working so hard.
1:02.9	And so he decided to take a mini retirement.
1:05.7	He took a 12-month sabbatical.
1:08.7	Now if you've been listening to this podcast or if you've been reading my blog for a while,
1:11.9	you've probably heard me say the phrase, retire early and often.
1:15.8	And what I mean by that is that I encourage people to take mini retirements on their way
1:20.6	to an early retirement.
	...

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