Mini-Retirement – A modern day solution that lets us have our cake and eat it too!

Retirement may still be a while off, with the increasing cost of living, affordability and qualifying age shifting further away. What’s more, many resent the idea of working hard for years on end, to save for their ‘golden days’ which may not be as golden as hoped, as health and other physical limitations can prevent us from living out our best life past the age of 70.

The idea of a mini retirement is gaining popularity, with the concept behind it being to sprinkle the retirement years throughout one’s adult life, so that we are rewarding ourselves with travel or bucket list dreams while we are still healthy and young enough to enjoy it.

With the right planning, a monthly, six month long or yearly break from work to enjoy a mini-retirement can be achieved without long term effects to your financial position.

Check your entitlements with your employer

If you’ve been employed by the same employee for a long period of time, you may be entitled to extended paid leave via accrued annual leave, long service leave you have qualified for or even a sabbatical. The average Australian is owed 16 days of annual leave, with many, upon enquiring, owed weeks or months of full pay leave. Using paid leave for all or part of your mini-retirement escape can help to fund your lifestyle while you are away. The benefit of an employer approved leave arrangement is also the peace of mind of employment upon your return.

Create income while you’re away

While it may take some effort to clear out or store away the personal items in your home, renting out your house while you are away is a good way to generate income and cover mortgage and other expenses while you are off ticking off that bucket list. There are DIY options such as Airbnb to rent your home out for the short term or you can enlist a professional agent if you prefer the peace of mind of someone else taking care of your home and tenant in your absence. Freelancing as a consultant in your area of specialty while off work can also provide some additional income, creating a flow of flexible work which you can do from wherever you find yourself in the world.

Make it work for you

If a six month long European trip is beyond your practical or financial means, a mini retirement may look like a luxury weekend at a winery in the Hunter Valley, a week off work to follow or participate in a golfing tournament or hiring a campervan with your partner and driving up the coast for a month over summer. Depending on what is achievable financially and practically for you, a mini retirement simply means taking time out from the pressures of work life to enjoy the experiences you were holding out to retirement for.

Speak to your financial planner

Getting your head around taking time off work can be tricky to organise from a financial perspective. Creating a strategy with your financial planner can help make your mini retirement plan more achievable. By looking at factors like budget, income and expenses, they can advise you if a mini retirement is on the cards in the short term for you, or if, with some smart saving strategies, you can begin planning to make your mini retirement vision a reality soon.

Taking some time off from work is a great opportunity to reward yourself for your hard work and live well now rather than holding off until retirement age. With clever planning, your mini retirement is also a chance to re-think your priorities and check in on your daily habits including work and life, to make sure that they match your real values and deepest personal goals.

Axios Financial Solutions are a team of respected and highly regarded financial planners with offices on St Kilda Rd Melbourne.  Axios helps their clients meet their desired outcomes by providing tailored financial services, strategies, advice and solutions.  You can contact them at or (03) 9869 5555.

Axios Financial Solutions Pty Ltd (ACN 007 299 014), is an Authorised Representative of Charter Financial Planning Ltd, Australian Financial Services Licensee 234665

Please note that the information in this article is of a general nature only and has not taken into consideration your individual circumstances. Should you wish to discuss your personal circumstances please call us on 03 9869 5555 or email

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480 St Kilda Road
Melbourne Vic 3004