Have you ever considered taking a sabbatical from work? If you did take one, would it ruin your career and financial goals? Most companies in the United States don’t offer paid sabbaticals like some in Europe, so doing so would require extensive planning. Jake Northrup at Kitces.com recently wrote an article that could help financial planners and DIYers plan how to take a sabbatical without destroying their financial future.
If taking a mini-retirement appeals to you, make sure to listen in to hear how it could affect your financial goals. You’ll also discover loads of resources that could help you make the most of your financial planning for such an endeavor. Make sure to stick around until the end of the episode to hear my response to whether I think Social Security is doomed.
Outline of This Episode [2:22] The idea of traditional retirement is being challenged [6:02] An example of how one couple planned their sabbatical [9:20] How taking time off could affect your long-term goals [13:26] Will Social Security be eliminated by the Supreme Court? [17:04] How to secure your benefit against possible reductions in Social Security Resources & People Mentioned Kitces article on Sabbatical Financial Planning Kitces article on 3 types of retirement Kitces article on the FIRE movement Indeed article on employee burnout World Economic Forum on Sweden’s sabbatical policy Research on the Great Resignation Reuter’s labor article Interactive planning tools Finding your tax equilibrium Harvesting capital gains Marketwatch article on Social Security BOOK - The 4-Hour Workweek by Tim Ferriss Episode 142 - Are You a Prudent Pessimist? Connect with Benjamin Brandt Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com/ Follow Ben on Twitter: https://twitter.com/retiremeasap Subscribe to the newsletter: https://retirementstartstodayradio.com/newsletterSubscribe to Retirement Starts Today on
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