Podcast Title: All the Hacks with Chris Hutchins
Episode: Mini Retirements: How to Take a Break Sooner That Could Also Boost Your Career and Income with Jillian Johnsrud
Host: Chris Hutchins
Guest: Jillian Johnsrud
Release Date: July 30, 2025

Introduction to Mini Retirements

Chris Hutchins opens the episode by challenging the conventional notion of deferring life's pleasures and personal investments until traditional retirement age. He introduces the concept of mini retirements—periodic breaks taken every few years rather than one extended retirement at the end of one's career.

"Imagine taking a mini retirement every few years. Time off not just to relax, but to invest in your health, your family, your dreams, and the version of yourself that you rarely have time to prioritize."
— Chris Hutchins [00:02]

Jillian Johnsrud echoes this sentiment, framing mini retirements as a strategic investment in one's personal life.

"Having those consistent breaks, a mini retirement can be almost like a capital investment into your personal life."
— Jillian Johnsrud [00:36]

Defining a Mini Retirement

Jillian outlines the three essential elements of a mini retirement:

1. Duration: A commitment of at least a month to ensure it's impactful.
2. Stepping Away: Temporarily leaving one's primary career or 9-to-5 job to engage in other meaningful activities.
3. Focus on Meaningful Pursuits: Prioritizing activities that resonate personally, whether it's travel, hobbies, family, or professional pivots.

"A mini retirement has three elements... a month or longer... stepping away from your primary career... to focus on something that matters to you, something that's meaningful."
— Jillian Johnsrud [04:37]

Benefits of Mini Retirements

Jillian discusses the multifaceted benefits of taking mini retirements:

• Personal Well-being: Enhancing health, relationships, and personal growth.
• Career Advancement: Contrary to common belief, taking breaks can accelerate one's career by preventing burnout and fostering creativity.
• Financial Growth: Strategic timing of mini retirements can positively impact one's financial trajectory, often outweighing the temporary loss of income.

"What's a little counterintuitive is it can have a massive positive impact on your financial trajectory and on your career trajectory."
— Jillian Johnsrud [06:14]

Overcoming Financial Objections

A primary concern for many is the financial feasibility of taking unpaid time off. Jillian provides a compelling argument:

• Career Mobility: Switching companies during mini retirements can lead to significant salary increases, compensating for the time off.
• Long-Term Savings: By avoiding stagnation and ensuring continuous career growth, individuals can potentially save and earn more in the long run.

"He was not at market value. His market value was 150%, clearly. ... by taking consistent mini retirements, by the time he was 65, a million dollars, $2 million ahead."
— Jillian Johnsrud [07:10]

Chris interjects with a counterpoint, questioning if multiple job switches without mini retirements might yield greater financial gains. Jillian responds by emphasizing the holistic benefits on personal and professional life that mini retirements provide, ultimately contributing to greater overall success.

Planning and Structuring a Mini Retirement

Jillian breaks down the steps to effectively plan a mini retirement:

1. Set Clear Intentions: Identify what truly matters—be it health, family, or personal projects.
2. Create a Narrative: Develop a positive and specific story to present to employers or stakeholders.
3. Financial Planning: Allocate a budget, typically around 50% of one's monthly take-home pay, to fund the mini retirement.
4. Scheduling: Design a structured schedule that aligns with personal goals and ensures time is used meaningfully.

"Come up with your mini retirement story... It needs to be positive... and frame it as a one-time event."
— Jillian Johnsrud [25:34]

Negotiating with Employers

For those employed in traditional jobs, Jillian offers strategies to negotiate time off:

• Prepare Logistics: Demonstrate how your absence can be managed without disruption, often showing it's easier and cheaper to grant a mini retirement than to hire a replacement.
• Be Specific and Positive: Clearly articulate the purpose and benefits of the mini retirement, emphasizing mutual gains.
• Frame It as an Investment: Highlight how the mini retirement will enhance your productivity and commitment upon return.

"It can be really easy, cheaper, and quicker than replacing you... frame it as you're really excited about the future projects we have and I would really hate to have to separate."
— Jillian Johnsrud [28:23]

Mini Retirements for the Self-Employed

Jillian addresses the unique challenges faced by self-employed individuals:

• Preparation: Simplify business operations, automate processes, and document procedures to ensure the business runs smoothly in your absence.
• Delegation: Train assistants or delegate tasks to maintain business functions without direct management.
• Benefits: Enhanced business efficiency and potential for exponential growth upon return, as free time can lead to creativity and new ideas.

"If you're self-employed, it might take three months, it might take a year and a half to really get your business ready."
— Jillian Johnsrud [42:14]

Financial Strategies and Cost Management

Jillian provides actionable financial advice to make mini retirements accessible:

• Start Small: Begin with shorter breaks to understand budgeting and planning.
• Affordable Travel: Opt for slow travel or budget-friendly destinations to minimize expenses.
• Economic Benefits: Highlight scenarios where traveling can be as cost-effective or even cheaper than living at home, especially when factoring in savings on childcare or other expenses.

"Usually, when people have more time, they require less luxury... just walking down to the bakery... ordering a cappuccino and reading your book in the park."
— Jillian Johnsrud [52:08]

Common Pitfalls and How to Overcome Them

Jillian warns about potential challenges during mini retirements:

• Underestimating Burnout: Sometimes, taking time off reveals deeper levels of fatigue that need addressing.
• Emotional Narratives: Negative self-perceptions post-break can lead to unnecessary emotional suffering.
• Social Perception: Explaining mini retirements to others may require careful framing to avoid misconceptions.

"If you just want to take a nap, it can feel like recovering from the flu... a better story is, 'I'm a lot more tired than I thought I was. Good thing I'm on a mini retirement.'"
— Jillian Johnsrud [53:55]

Health Insurance Considerations

Understanding health insurance options is crucial for mini retirements:

• Cobra: A temporary solution that maintains existing health coverage.
• Exchange Plans: May offer subsidies for extended time off.
• Alternating Coverage: Switching between different insurance options as needed during different phases of the mini retirement.

"You can choose multiple options and string them together. Especially for longer mini retirements."
— Jillian Johnsrud [59:10]

Final Advice and Encouragement

Jillian encourages listeners to take actionable steps towards planning their mini retirements:

• Set Microhabits: Gradually adjust daily routines to align with the planned mini retirement activities.
• Long Lead Time Planning: Utilize the time ahead to align goals, intentions, and practical preparations.
• Seek Resources: Refer to her book and online resources for detailed guidance and success stories.

"If you have this three different one month trip goals, there might actually be a lot more economies of scale to doing one three month trip than three one month trips."
— Jillian Johnsrud [51:17]

Chris Hutchins concludes by encouraging listeners to take action and share their mini retirement experiences, fostering a community of proactive life hackers.

Key Takeaways

• Mini retirements offer a balanced approach to enjoying life's moments without waiting for traditional retirement.
• Proper planning and negotiation can make mini retirements financially and professionally beneficial.
• Self-employed individuals require tailored strategies to ensure their businesses remain operational during their breaks.
• Understanding and managing finances is crucial to making mini retirements feasible across different income levels.
• Overcoming psychological barriers and societal perceptions is essential for embracing mini retirements confidently.

Notable Quotes

• "Having those consistent breaks, a mini retirement can be almost like a capital investment into your personal life."
  — Jillian Johnsrud [00:36]

• "What's a little counterintuitive is it can have a massive positive impact on your financial trajectory and on your career trajectory."
  — Jillian Johnsrud [06:14]

• "If you like your job, I would a hundred percent try your hand at negotiating a mini retirement."
  — Jillian Johnsrud [25:34]

• "If you're self-employed, it might take three months, it might take a year and a half to really get your business ready."
  — Jillian Johnsrud [42:14]

Resources Mentioned

• Jillian’s Book: Available at retireoffman.com
• Mini Retirement Worksheets and Podcasts: Retire Often Podcasts
• Newsletter: Jillian’s Unhinged Newsletter

By embracing the concept of mini retirements, listeners are empowered to redesign their work-life balance, invest strategically in their personal and professional growth, and redefine the path to a fulfilling and financially secure life.