The Brief

Quick Backstory

Although my mini-retirement was forced (due to being laid off), I was fortunate to have been able to plan for it in two ways - by mentally anticipating the layoff and by how I’ve managed my finances for years.

The company I worked for implemented RTO (return to office) at least 3 times a week. I had already moved to Florida and was working remotely for over a year with teammates all over the world (none in the office I was assigned to), but I knew that the company would start tracking badges for layoffs due to lower than expected company financials. After 3 months into RTO going into full effect, I got caught. Shortly after, I was laid off. 

I was initially relieved because a huge weight was lifted off of my shoulders since I was not happy in my role, but I was also angry because it was such a dumb reason to be laid off for when everyone I work with worked out of different offices. However, I thought this was a positive change, especially since I received three months of severance which was worth $44,375. 

Reflecting Back

Thinking back to those days, that year of mini-retirement quickly flew by because I didn’t have a solid plan or a goal in mind - I just went with the flow and I was okay with it at the time. I traveled with my wife for several weeks in Asia and traveled to several states but the majority of my year was just relaxing, going to the gym, and doing what I usually do on a daily basis, which is why I got bored and eventually decided to go back to work.

I’m happy I made the decision to go back to work, but I wish I did more during my mini-retirement. I was really burnt out from work so doing nothing at that time was fine with me, but here’s what I wish I would’ve done:

1. Focused on starting my own business rather than looking to acquire one

With my new freedom, I was looking to buy an existing business. This is a trend called entrepreneurship through acquisition. 

Entrepreneurship through acquisition is exactly what it sounds like - it’s getting into entrepreneurship by acquiring an existing business. The benefit of this route into entrepreneurship is that a buyer can acquire a proven business with existing customers, products, and cash flow with the intent to innovate and grow the business. 

This sounded like something that fit me. I was looking for a business that was stable and predictable with room to improve the business by investing in new equipment, marketing the company, and implementing technologies. 

The issue? Me and my wife were not decisive on where we wanted to relocate to from Florida. We just knew we wanted to leave. Also, just waiting for a business to go for sale leaves a lot to chance. 

Here’s a past post of three businesses I seriously considered buying.

I wish I had the idea of starting this business during that time (give it a ‘Follow’).

2. I wish I went full digital nomad

This has been a dream of mine - travel to a foreign country, wake up in an Airbnb, work in a cafe, and eat good food!

While I did travel a bit while on my mini-retirement, my wife was still working for the majority of the time until we decided to just move out of Miami. I wish we just packed a backpack and just traveled to different countries where cost of living is cheap. 

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Navigating Life

Interested in Taking a Mini-Retirement?

For anyone who is thinking about doing a mini-retirement, I would recommend that you plan for it with an outcome in mind.

Mini-retirement should be a mix of taking a break from your job, enjoying your time off with activities you want to do, and having a goal to achieve out of this mini-retirement. 

From my mini-retirement, I definitely got the break I needed. I was so burnt out from my last role that I welcomed the lay off. I did enjoy some of my time off, but not to the fullest extent. Lastly, I didn’t set out right away with the goal to buy a business and when I did set out for that goal, there wasn’t a clear path since we just didn’t know exactly where we wanted to relocate to. Being able to physically operate the business was a requirement for me, especially for my first. 

Now that I’m back in the workforce, I’m juggling my job while creating content and managing my real estate portfolio. While my job is a lot easier than my previous one on my mental health and in hours, I still have weeks when I feel drained. 

I wish I was focused on this while I was on my mini-retirement, but no excuses - I’m doing it now! 

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