Can I Take A Mini Retirement as Physician?

This post was sent with a Sunday Special title to a select few, we apologize! This is our regular Saturday featured post, we’ll be having the Sunday Best as usual tomorrow. 

With how hectic things have gotten over the years, it’s no wonder people are finding any excuse they can get to take a break. Things feel uncertain and overwhelming  more now than ever and it’s burn out central in the world of the physician. 

Some of us don’t even feel like we’ll have a retirement at the rate things are going, but an early retirement is still what most people are aiming for. 

So, how about a mini retirement? 

No, this isn’t some new concept cooked up by Work TikTok/WorkTok. But mini retirements have certainly become a buzzword with just how many people are taking them over saving up for a traditional retirement, even a lot of physicians I know.

Why? Well, who doesn’t need a vacation right now? It’s been absolute chaos ever since the pandemic and no demographic was hit harder than those on the frontlines, like doctors and nurses. Couple up the exhaustion from all that with inflation and it’s not all that surprising. 

But is it feasible? Can you, a physician, really take extended time off from work to help ease life and not suffer any consequences? It’s not so easy to answer. But one thing is for sure: tradition is out, innovation is in. 

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So, let’s discuss this mini retirement phenomenon in detail:

• What’s a mini retirement? 
• Mini retirements for physicians
• Are mini retirements actually worth it? 

Read More: 

• Passive Income and Other Money Myths
• Working in the Time of a Burnout Crisis
• The 3% Medicare Pay Cut Controversy

Mini Retirements: They Aren’t New

So, I know we all have issues with fads in this community. Which is fair because a fad tends to be a more temporary ‘flavor of the week’ situation that fades in popularity as quickly as they rose.

Well, mini retirements are certainly not a fad considering the idea itself has existed since 2008. The term was first used in ‘Four Hour Work Week’, a self help book that was all the rage when it came out. 

But basically, a mini retirement is when you take smaller but more purposeful breaks while actively working instead of the traditional route of retiring at the end of your career. 

That sounds a lot like taking a normal break from work, like unpaid leave, right? Well, no. See, in mini retirements, you’re taking at least six months off, no contact with your job or employer whatsoever. 

That is, until you choose to join back on the date you decided to start working again. Although you can totally shift your job if you like, by that point. 

Mini retirements mean you don’t have to wait two to three decades just to get a breath of fresh air. It helps stave off that feeling of listlessness, of being in the grind for so long you don’t even know what relaxing means for you. 

This is why so many people have opted for the mini retirement route. Taking intentional breaks when you’re actually able to enjoy them is exactly what the doctor ordered. 

How Do Mini Retirements Work?

So, what’s the science behind mini retirements exactly? Basically, taking well deserved breaks over a scheduled period of time during your career is actually a great way of preventing burnout. 

Because you took the break, you end up getting the complete rest you need after spending so much time working towards a career. It’s really that simple. 

But what isn’t simple is gauging whether a mini retirement is in the cards for you. Obviously, so many of us don’t have the privilege of just deciding we don’t need to work for months on end. 

However, being physicians means we do earn a fair bit better than some other careers. And while it isn’t trust fund money, it is something. 

The most important thing when you’re planning for a mini retirement is to see if you have the funds to help support you during the time you won’t be working. Budgeting is key. 

And I also include savings in budgeting, since that’s what you’ll be living off of during the mini retirement. Make sure you have assets in place and have an idea of what your savings will end up looking like after the mini retirement ends. 

Account for everything, from groceries, to trips and even healthcare.

Making mini retirements work is a lot, I won’t lie to you. We aren’t talking about a sabbatical here, although I intend to cover sabbaticals for physicians soon. But that’s also why mini retirements work in practice. It’s calculated, planned out in a way where you don’t have to worry about the future. 

That’s kind of the entire point, you know? 

Is A Mini Retirement Really Worth The Hassle?

Personally, a mini retirement sounds like a stellar idea. Hear me out:

We talk about retirement a lot on this website, and for good reason. We work so hard for this idea that someday, we’ll have enough and not have to work any longer. We get to enjoy our ‘golden years’ in retirement, after a long fruitful career. 

But that idea feels more and more outdated as time goes by. 

I said it before but it’s true: things are more uncertain. The country has been through the grinder and come out looking worse for the wear. And after the pandemic, life has just felt so much more fragile.

It doesn’t feel like we’ll even have the time to enjoy the retirement we worked so hard for. 

This is highlighted even more thanks to recent news of the retirement age being raised. At this point, it feels like we’ll be working forever before being able to afford the time off. And by that time, our bodies will be too tired to enjoy anything we planned. 

Mini retirements get rid of that notion because you’re taking the time off when you need it. It’s not some vague plan in the distant future, you can take a mini retirement anytime you please. That’s what makes it so worthwhile. 

Why Mini Retirements Are Needed In Medicine

Because, let’s be honest here: The medical fraternity is going through the ringer right now. 

Medicine was never an easy career in the first place, but now it feels even more daunting. It takes a while to graduate from medical school, and then even longer to get established as a physician. 

Let’s not forget specialization, considering a lot of us go into medicine with the goal to get residencies and become consultants. So, medicine? It doesn’t leave much room for a break. 

Sure, the competition aspect of medicine still exists. Some are content being in the race, working harder and harder to achieve their goals, with one success after the rest. So, the idea of a break sounds horrible to them, since it’ll break their momentum.

But that’s not the case for other physicians. Competition is great and all but fulfillment can come from various other areas as well. 

And constantly working to be the best doesn’t guarantee happiness. Our jobs don’t halt just because we take a break, if we’re truly dedicated to it.

But that’s why we need mini retirements. Our lives won’t end if we take that break we so desperately need, and we can make it sustainable. This has been proven time and time again, with more physicians opting for a mini retirement over the conventional one. 

Already physicians retire later than other careers in the U.S., and we’re at higher risk of contracting illnesses. So, the idea of that late retirement just doesn’t hold appeal anymore. 

Conclusion

If your question is whether you can take a mini retirement as a physician, then the answer is up to you. Are you willing to work smarter in the beginning and make sure you have your savings ready to go? Then of course, go ahead! 

We, as doctors, know the importance of not overworking our bodies to the point of breaking down. So, if you can afford that mini retirement? I say go for it. It’s not going to be the end of your career.

Drink some mimosas for a while, and then pick your lab coat back up after you’re ready to get back into the game. It’s that easy. 

Have you ever taken a mini-retirement? Do you think they make sense? Let us know in the comments down below!