Mini retirement? anyone take 6 months + off work to travel?

[lprstn]

Me and DH have a dream to take a mini retirement when I youngest graduates from HS... we both thought to take off work for 6 months straight, close up the house, take a temporary leave of absence from our jobs and travel for 6 months straight (2 months with the kids on their summer breaks) and 4 months alone.

Has anyone ever done this? If so, how do you plan for this? What was some lessons learned?

 

[Lawlar]

Go For It!

Yes, several times. (I'll discuss two here)

In 1990, I planned to take six months off from my law practice. But my partner would only let me take a month. So I rented a home in Hana, Maui for a month. A wonderful experience. I read lots of books / took hikes into the rain forest / explored the beaches / and just got really, really relaxed. I didn’t watch tv for the month – that really helps. The experience caused me to reevaluate my priorities.

When I got back I was unhappy that I hadn’t been able to stay for six months or more. I had been wanting to do that for a number of years. [What gave me the idea was watching a case in court one day. A lawyer asked the judge to continue a trial date for 9 months because the lawyer had rented a sail boat and he was going to sail around Tahiti for 6 months. The judge granted the request. I was so envious!]

So a few months after my Hana experience I told my partner I was selling my interest in the firm. I then used the proceeds to spend a year going back to college to get another degree. It was fun to go back to school after 25 years. But I got too worried about studying and tests. I should have gone back to Hana.

A word of advice: It is expensive to take a long sabbatical. Make sure you plan for all of the costs. Also, you won’t have an income while you take off from work (unless you have another source of income). You will still have to pay to maintain your existing home. Then there is the possible damage to careers (will your boss really be happy that you are leaving for six months?).

It takes a lot of planning. But if you work it out it is really worth it. Life is short. You don’t want to spend all of it at work. One of the prime benefits of a sabbatical is that it allows you to look at your life in a broader way – you may end up making some major changes.

One of the lessons I learned was that working in a stressful profession for 30 years was not worth it. So I ultimately retired and I now live in Santa Barbara where I am on a full-time retirement (I retired at 56, three years ago). I can go to the beach every day, I don’t have to worry about work, and I can do whatever I want. [Don’t let my wife see this post. She is working hard now as a successful executive. If she quits I have to go back to work.]

 

[Fern Modena]

Taking a Leave

I took off six weeks in 1999 to go to Europe. Jerry was already retired.

I always knew that at some point we would go to Europe. We never had a lot of excess money in the early years of our marriage, but I faithfully bought a $100. savings bond every two weeks (for $50.), payroll deducted. I never spent any of them until that vacation. I planned ahead, cause I had to self pay my health premium when I was on leave, among other things. We paid ahead all of our bills.

We got an exchange to Allen House, and another to Residence Paris XV. We also went to the Cotswolds, to visit Bruce and Patricia for a few days. In addition we spent ten days in Rome, two in Venice, two in Genoa, an overnight in Milan, and one in Florence. We traveled between places on a Rail Pass, planning it all ourselves. In addition we added on a seven day Costa Mediterranean Cruise, going from Genoa to Barcelona, Marseilles, Palma de Majorca, Tunisia, Naples (for Capri and Pompeii), and Sicily. It wasn't long in each place, but our tours were generally with a dozen people or less, so we got a lot of content and saw a lot of places.

I speak English and goodly Spanish plus I understand some Italian. I can say niceties in French (please, thank you, hello, goodby, etc), and that's about it. Jerry speaks Italian, and pretty good French, plus almost as much Spanish as me. We never had a problem with languages, and everybody was helpful.

I cashed out about $5K in bonds for the trip and costs beforehand. We ate breakfasts in, otherwise we ate out, but as locals do, not as tourists do.

I know I wouldn't have been able to take six months off; I previously took three months off once with a broken shoulder, and I was bored by the end. If I took six months off, and began to live as if I were retired (especially with Jerry already retired) I probably wouldn't have wanted to go back to work.

BTW, I *still* have a vacation fund. I use it for things like the 19-day cruise we took two years ago.

Fern

 

[Passepartout]

I did sort-of that about 20-odd years ago. I was single, had been in a successful segment of my industry. I cashed out when it became apparent that the industry had turned a corner and wouldn't be as profitable again. I thought I could retire at 38. Turns out that after about 9 months of bike riding, fishing, traveling pretty much by myself (not a lot of your friends in that age range can go play every day) and finding health insurance costly, I went back to work 'for the man'.

I'm glad I did that. It helped organize the priorities. Now I'm married. I work pretty much when I want and am able to travel several times a year and provide insurance for both of us. Now that I'm sixtysomething I will retire in a couple of years. DW will keep helping existing clients which will become fewer over time.

Good luck. Life is short. Eat dessert first. Go for it.

Jim Ricks

 

[ownsmany]

wow - I am envious. I have been so worried with work and constant threats of downsizing. Maybe if it does happen, I could do what some of you have done.

It is great that you could do this. I understand the importance of saving for it, as it is so expensive without company paid insurance plans, etc.

Good for you. Life is very short.

 

[DeniseM]

I see one major problem with your plan - I know that you have 3 or 4 kids. Since you are going to close up your house, that implies that they will all be away at college or living independently when you plan to take 6 mos. off and travel. Although 18 to 25 year olds are, in theory, adults, they usually are not able to be independent and self-supporting until they finish college and launch a career. If you can afford to have all your kids in college AND take off 6 mos. from work, I take my hat off to you! Mine are 20 and 24 - so this is from my own experience. With both of them in college, their expenses are more than they ever have been, right now.

 

[suesam]

This is something dh and I have thought about a lot and really hope to do. I have a book called "The Grown Up's Guide to Running Away from Home" by Rosanne Knorr and also "The Joy of Not Working" by Ernie Zelinski. Both are great for dreamers like you and I.
This is not something we will be able to do until are kids are out of college but we have been saving money for about 3 years in a special fund that is pegged for something like this.I will hopefully have children in college for at least 7 more years. So that will make it 10 years of saving. It makes me feel like it really will happen if I am saving money for it!
I really am hoping to be able to leave for a year and we really are not sure yet where we will want to go. Possibly spend a couple of months in different continents. I know a 95 year old woman who did this with her husband throughout her life three different times and these trips are her fondest memories.
I do not want to wait until I retire. That is way too far off.

Sue

 

[cgeidl]

one year off

In 1990 when both my wife and I were turning 50 we planned years ahead to take a year off and travel to Europe and AFrica.We leased our home at a rate which paid all the mortgage and other costs and traveled starting in Europe.We basically spend a week to six weeks in most countries We bought a 9 passenger Station wagon in England and a small 16 foot trailer to camp in. We stayed 50% of the time camping and the rest on Safaris,TS exchanges,and villa rentals. We spent just under $40,000 for the year and part was for a trip to Kenya and an emergency trip back to Florida.
What was the value of the trip??
PRICELESS
Our kids were grown however we have two friends that both spent a year in their late 20's with their children and survived.

 

[falmouth3]

Years ago after my husband finished grad school and before his first real job, we took 4 months and drove cross-country in a van. We stayed at campgrounds and about once a week we stayed at a KOA where they had laundry facilities. Only rarely did we stay in a motel.

Gas was way cheaper then and some of the federal campgrounds were free if they didn't have running water. It cost us a total (for everything) of about $2500! Those were the days!

We saw so many interesting places. It was a wonderful opportunity.

Sue