(KRON) — First, there was the “great resignation,” followed by “quiet quitting,” and more recently, “coffee badging.” But apparently, just as we prepare to ring in the new year, there’s a new viral workplace trend. This time, it’s called “micro-retirement.”
What is micro-retirement?
According to a story in Business Insider, micro-retirement is a buzzword that “reflects another shift toward work-life balance among young people.”
“Similar to a sabbatical, a micro-retirement (also known as a mini retirement) is when a worker takes a break from their career for a couple of months or even years,” the article in BI states.
Another story in Unilad said the term likely originated on TikTok and that the phenomenon is most popular among Gen Z and millennials — “generations of people who aren’t anywhere near retirement age yet, but who refuse to accept that there’s nothing but work ahead for the next three-five decades.”
Speaking to Business Insider, Jes Osrow of HR consultancy The Rise Journey said micro-retirement was a “flexible concept that varies depending on who you ask.”
According to Osrow, some use micro-retirement as an opportunity to relieve burnout and pursue “personal passions,” while others use it to launch a side hustle.
How can you micro-retire?
If you’re considering the idea of a micro-retirement, experts and people who’ve actually done it themselves recommend that you first clear some debt and put aside a “sizeable” sum of cash.
“Do you have the financial wherewithal to go without a paycheck for an extended period?” career coach Tim Toterhi asked, speaking to BI. “How will you secure health care? And how will you navigate financial emergencies should they arise?”
In general, the consensus seems to be that you need about a year’s worth of expenses saved up in order to micro-retire. Some of the people interviewed also said they planned to work freelance while traveling or otherwise taking time away.
If micro-retirement features among your plans for the new year, experts who spoke to BI also said it’s important to have a plan for an eventual return to the workplace.
“Have a plan, but not too much of a plan,” career coach Michael Lopez told BI.
Osrow recommends setting goals to help “ensure your time off is meaningful and intentional, giving you clear metrics to measure success.”
(KRON) — First, there was the “great resignation,” followed by “quiet quitting,” and more recently, “coffee badging.” But apparently, just as we prepare to ring in the new year, there’s a new viral workplace trend. This time, it’s called “micro-retirement.” What is micro-retirement? According to a story in Business Insider, micro-retirement is a buzzword that […]
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