Quit Your Job: Mini-Retirees Reveal 4 Financial Freedom Secrets

Feeling burned out? Dreaming of a career switch? A “mini-retirement” might be your answer. It’s basically a planned break from work to focus on *you*. But the idea of ditching your paycheck can be scary, right?

It doesn’t have to be. Career coach Jillian Johnsrud says mini-retirements aren’t just for the wealthy.

“When my spouse and I started taking mini-retirements, we weren’t rolling in dough,” Johnsrud told Business Insider. She’s now taken 12! Her secret? Smart planning.

Want to try it? Here are four financial secrets from mini-retirement pros:

1. Start Small. Seriously.

A mini-retirement can be anything from a month to a year (or more! ). Johnsrud suggests starting with just one month.

Why? It’s easier to afford. Your job might be more willing to let you take a short leave.

Johnsrud’s tip: Brainstorm mini-retirement ideas. List them from cheapest to most expensive. Tackle the affordable ones first. Think of it as dipping your toes in the water.

2. Savings Plan: It’s Not Just for “Real” Retirement

Saving for a mini-retirement is like saving for regular retirement. You need a plan.

Figure out your expenses: housing, food, fun, everything. Then, add in any long-term savings goals.

Johnsrud recommends saving an extra 6. 5% of your income. That’s enough for one month off every other year.

Example: If you make $5,000 a month, save an extra $350. A weekend side hustle could easily cover that!

And don’t think you need years of experience to take a break. Even entry-level jobs can be flexible.

Another idea? Live frugally during your mini-retirement. Brian Li took a year off and cut back on eating out and personal spending. He plans to keep those habits!

“Our actual operating expenses can be lower than what I had originally thought,” Li said. That’s money he can now save for his daughter’s college fund.

3. Separate Your Funds! Mini vs. “Real” Retirement

Florence Poirel took an 18-month mini-retirement. She kept her mini-retirement money separate from her regular retirement funds.

“I decided to keep 18 months of expenses in my cash account,” Poirel said. “I didn’t want to have to take money out of my retirement portfolio. ”

Your mini-retirement fund should be easy to access. Think cash or a high-yield savings account. Don’t invest it in risky stocks!

Also, don’t dip into your emergency fund. A mini-retirement is planned. You still need a safety net for unexpected expenses.

4. Healthcare: Don’t Forget It!

Most people get health insurance through their job. What happens when you quit?

For shorter breaks, look into COBRA. It lets you keep your employer’s insurance.

Johnsrud suggests: “Do an hour of research, ask HR how much it would be to stay on COBRA. ”

Married? Joining your partner’s insurance is another option. Or, consider part-time work.

Ready to escape the grind? A mini-retirement might be closer than you think.