Retire Often with Jillian Johnsrud
The last season of my show is going fast! I have six months left to share the final topics and guests with you before we say our final goodbye. I initially intended May to be focused on travel in anticipation of summer. I have been a financial planner for over 14 years now, and in all of those years, I think every single one of my clients was always planning for some trip during the summer months, and this summer is no different. Whether the trips are for weddings, family reunions, kids' baseball games, concert events, or just because, travel is always something we're planning with our clients.
Joining me today is Jillian Johnsrud, Progress Coach and founder of the site Retire Often. Full disclosure, we were going to talk about travel more, but you'll see that our conversation took a turn into a subject matter that I think is travel-adjacent, and that's mini-retirements and sabbaticals. This is the perfect kickoff episode to the month, as nothing else could motivate you to book travel more than knowing you don't have to work for the next month. If you are curious about why you should plan your mini-retirement, stay tuned.
What are we drinking?
Jillian – Coffee
Shannon – Black Cherry Schweppes
Podcast Notes
Entering the FI Community
Jillian began writing after becoming financially independent. She wrote about her experiences building a life after achieving that goal. FI (financial independence) is not a finish line you cross because life constantly evolves, and the world changes.
Shannon and Jillian discuss the evolving nature of financial challenges post-FI; the conversation shifts towards the behavioral and emotional aspects of managing wealth.
There is a psychological hurdle when you transition from a career-focused mindset to one of financial freedom. They acknowledge the struggle with spending and the difficulty defining life after FI.
Once you become financially independent, there are still financial challenges. The problems become more behavioral and emotional rather than logistical math problems.
The journey to FI is different than the lifestyle after it. People struggle with spending even though they have the resources.
One reason Jillian is a fan of mini-retirements is that they are an opportunity to practice. It's a time to try things and game-plan your future retirement.
What is a Mini Retirement?
Jillian introduces the concept of mini-retirements as a strategic approach to tackling burnout and exploring personal passions outside of traditional career paths and plans.
Practical advice is offered on negotiating time off with employers, navigating layoffs as opportunities for self-reflection, and prioritizing physical and mental health.
It can feel challenging, but you have to trust your employer enough to talk with them and ask for what you need. If you don't want to leave and they want to keep you on the team, they may accept your request or find a compromise.
The discussion emphasizes the positive impact of mini-retirements on overall well-being and longevity in one's career. If you plan to switch jobs every few years, taking time in between can be a great opportunity for a mini-retirement.
If you're feeling burnt out, find a way to take a sabbatical. Jillian recommends a month or longer of stepping away from your career and focusing on something else that matters to you.
Final Thoughts
Shannon and Jillian share their experiences and chat about the challenges and rewards of redefining retirement and incorporating extended time off into one's schedule.
If you're coming out of a stressful situation, it takes time for the stress to work its way out of your system. Tackle the burnout in small chunks if you have to. If you wait and push through, you can crash, which can take a long time to recover.
Mini-retirements offer bite-sized opportunities to explore personal interests and recharge from burnout. Embracing them can inspire a redefinition of retirement and promote a healthier work-life balance.
Negotiating time off with employers can lead to more flexible and fulfilling career trajectories. Prioritizing physical and mental health is essential for long-term career sustainability.
Takeaway: My biggest takeaway is the importance of focusing on your physical and mental health and sometimes travel or at least some time away from work, is exactly the key to your physical and mental health challenges.
Random Three Questions
What is the next big trip you have planned?
Do you have a third book in your head?
Any recommendations for people in the personal finance space we should be following?
Connect with Jillian
Website: https://www.jillianjohnsrud.com/
Podcast: Retire Often
Instagram: @jillianjohnsrud
Linktree: https://linktr.ee/JillianJohnsrud
Resources Mentioned:
Fire the Haters with Jillian Johnsrud - Martinis and your Money 419
Fire the Haters: Finding Courage to Create Online in a Critical World
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
As many of you know, other than running this podcast, I’m the founder and CEO of The Financial Gym, and we are celebrating 10 years of this journey. Now more than ever, I see the importance of the work we do every single day. Rising inflation, the return on student loan debt, high-interest rates on loans and mortgages, and volatile stock markets make it a time where, now more than ever, you need a best financial friend to help you make the best choices along the way.
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