By Mallika Bhagat
Copyright timesnownews
Last year, a friend of mine quit his job in Mumbai, not to switch companies or climb the next rung of the ladder, but to spend three months exploring Europe by train. When he returned, he had no regrets about the gap on his résumé. He had saved up enough to deserve a break, and come back with renewed energy that would make his workplace and his mental health better. He very cheekily called it his “mini retirement.” And he isn’t alone. Across India and much of the world, Gen Z and millennials are increasingly planning intentional pauses in their careers to travel, rejecting the long-held notion that life’s great journeys should be reserved for one grand retirement at the end of decades of work. Mini Retirements: A New Kind Of Retirement PlanA recent global survey of affluent adults by HSBC revealed that nearly majority of Indian Gen Z (64%) and millennials (58%) are reimagining retirement by planning for “mini-retirements” in the future. And the numbers say it all: 85 percent believe these mini retirements improve their quality of life. For many, travel is the centerpiece. In India, 54% plan to use their mini retirements to explore within the country—whether that means trekking in Ladakh, taking a wellness retreat in Kerala, or discovering hidden temples in Madhya Pradesh. Internationally, the most desired destinations are the United States, the United Kingdom, and Singapore. Why They’re Doing It NowYounger generations argue that there is no sense in waiting until their 60s to see the world. And we agree. Why not travel when you have the health, wealth and curiosity to explore? Plus, post-pandemic focus on remote work and digital nomad visas has already made this way of life a hit with young Indians. In fact, a 30-year-old woman from Australia, Zara Lim, took an 18-month ‘micro-retirement’ to travel around Europe and Asia. In an interview with Yahoo Finance, she says, “Having a really long break allows you to do the things that you just normally wouldn’t be able to,” she said. Having that flexibility to stay longer and to experience the thing you actually wanted to go there to experience is very, very privileged and I’m very grateful to be able to do that.” Funding a micro retirement often involves careful planning. According to the report by HSBC, young Indians plan to use personal savings (38%), family support (36%), or freelance projects (36%) to plan their retirement. Many also practice geoarbitrage: stretching budgets by living in destinations where the cost of living is lower, like Vietnam, Portugal, or Bali. Ofcourse, it is not everyone’s cup of tea. People who can’t afford to take a break, or don’t revel in the idea of career breaks lest they become permanent, would shrug at this idea. But for those who believe breaks are the key to avoiding burnouts, micro-retirements are the way to go! Travel News – Find latest news and tips based on Indian and World travel including top 10 travel destination, tourism information, how to reach visit and more at Times Now.
