Money is fun

Today’s Does of Wisdom

“And in the end it's not the years in your life that count. It's the life in your years.” —Abraham Lincoln

So This Happened

1- Crypto Roller-coaster: Bitget’s CEO predicts Bitcoin could drop to $72,000: ‘Trump’s reserve is more of a promise’

Bitcoin’s price could still dip to the $72,000–$80,000 range despite increasing institutional interest, according to Gracy Chen, Managing Director at Bitget. Yahoo Finance

2- Elon Musk calls Social Security ‘the biggest Ponzi scheme of all time’ as calls mount to remove contribution caps for billionaires

The world’s richest man, Elon Musk, fears America’s state-backed pensions are no longer safe as fewer working-age Americans can pay for retirees who live a longer life. Yahoo Finance

Microretirements: The Future of Work-Life Balance

What if retirement wasn’t just something to look forward to at 65? Enter microretirements—planned, extended career breaks that allow individuals to recharge, pursue passions, travel, or simply rest. Unlike traditional retirement, microretirements are taken throughout one’s working years, promoting personal growth and overall well-being without waiting decades to enjoy life.

Why Microretirements Matter

Today’s professionals are burned out. With remote work blurring the lines between office and home, many are realizing that traditional career paths don’t allow for true rest. Microretirements offer an alternative—a structured way to take time off without abandoning long-term financial security.

Benefits of Microretirements:

• Mental and Physical Well-being: Time off reduces stress, improves health, and boosts overall happiness.

• Career Rejuvenation: A break can lead to fresh perspectives, new skills, and increased creativity upon return.

• Personal Growth: Whether it’s learning a new language, volunteering, or pursuing a passion project, microretirements create space for self-discovery.

• More Enjoyment, Sooner: Instead of waiting until retirement age, individuals get to experience life’s joys in the present.

Financial Planning for a Microretirement

A microretirement isn’t a spontaneous decision—it requires financial foresight. Here’s how to make it work:

1. Assess Your Finances: Calculate your current savings, expenses, and liabilities to determine how much time off you can afford.

2. Set a Savings Goal: Just like retirement planning, set aside a specific amount monthly toward a microretirement fund.

3. Cut Expenses Strategically: Minimize unnecessary spending in the lead-up to your break.

4. Consider Alternative Income Streams: Freelancing, passive income, or investments can sustain you during time off.

5. Think About Health Insurance and Benefits: Make sure you have coverage while away from traditional employment.

Managing Career Implications

Many professionals fear that stepping away from work will hurt their careers. However, with the right approach, a microretirement can actually enhance your resume.

• Plan Your Exit and Reentry: Give your employer sufficient notice and maintain strong professional relationships.

• Frame It as Professional Growth: Highlight the skills or experiences gained during your break.

• Stay Connected: Maintain industry connections and stay updated on trends.

• Consider Short-Term Gigs: Temporary work or consulting can keep your skills sharp and resume active.

Real-Life Success Stories

1. Anaïs Felt:

After a decade in Silicon Valley's tech industry, Anaïs Felt recognized the toll of burnout on her well-being. In March 2024, she embarked on a microretirement, taking an extended break to rejuvenate. During this period, Felt focused on personal passions, health, and rest. She reported significant improvements in her quality of life and mental health, attributing her renewed energy to this intentional hiatus. Felt plans to incorporate similar breaks throughout her career to maintain a balanced lifestyle. ​

Business Insider & New York Post

2. Brittney Foley:

At 26, Brittney Foley decided to step away from her consulting role in Boston to pursue a microretirement. With a year's worth of savings and a part-time job as a waitress, she dedicated her time to writing a book. Foley adjusted her lifestyle by moving to a more affordable apartment and securing her own health insurance. She observed that many peers felt pressured to chase promotions, leading to widespread burnout. Her microretirement allowed her to focus on personal goals without the constraints of a traditional corporate schedule. ​New York Post

3. Mia McGrath:

Mia McGrath, a 24-year-old from the UK, has embraced the concept of microretirement with a bold plan. Having saved over $94,000, she intends to take an extended career break and return to the workforce at 40. McGrath's strategy reflects a growing trend among Gen Z workers who prioritize work-life balance and seek to enjoy life before traditional retirement age. ​New York Post

Resources to Plan Your Microretirement

• Financial Calculators: NerdWallet’s Savings Goal Calculator

• Budgeting Apps: Mint, YNAB (You Need a Budget)

• Career Planning: LinkedIn Learning, Coursera, and local networking events

• Health Insurance Options: COBRA, freelance health plans, or global travel insurance

The Future of Work: Living Now, Not Just Later

Microretirements challenge the outdated notion that we must grind for decades before enjoying life. By strategically planning career breaks, young professionals can avoid burnout, enhance personal and professional growth, and enjoy life along the way.

So, what’s stopping you from planning your first microretirement?