Retirement is being quietly replaced by a new rhythm among affluent Americans, who are opting to take several mini retirements throughout their careers.
New research from HSBC’s Quality of Life: Affluent Investor Snapshot report, which surveyed more than 10,000 affluent adults across 12 markets, found that many people are planning multiple intentional pauses from their careers, taking breaks the study calls “multi retirements.”
In the U.S, 37 percent of respondents say they plan to take a mini retirement, most preferring a first pause of 6 to 12 months and placing 46 years old as the ideal age for the first break.
This trend spans generations. Gen X and Millennials lead the way, each aiming to take an average of three mini retirements in their lifetimes. Motivations differ by age: Gen Z most often cites pursuing passions and personal development (33 percent), Millennials emphasize spending quality time with family (38 percent), Gen X prioritizes travel without constraints (38 percent), and Baby Boomers focus on individual well-being (40 percent).
Why Multi Retirements Are Gaining Ground
The appeal of taking several mini retirements lies in the balance they offer between work and personal life. “The idea of multiple breaks feels more realistic than the traditional all or nothing retirement plan,” Aaron Cirksena, Founder and CEO of retirement planning firm MDRN Capital, told Newsweek.
Gen X and Millennials, he said, are leading the trend because they “came of age during financial crises” and have seen “how fragile long-term plans can be.” They are prioritizing life experiences earlier and not waiting until 65.
Joe Galvin, chief research officer at executive coaching firm Vintage Worldwide, points to burnout as a key driver, particularly among midcareer professionals.
“These pressures, along with a variety of professional and societal stressors, make well-being and work-life balance a top priority,” he told Newsweek. “Brief, intentional pauses allow them to reset and return to work more focused, creative, and engaged. Over the course of a career, multiple ‘mini retirements’ can help employees stay in the workforce longer while maintaining productivity and performing at their best.”
Christina Muller, a workplace mental health expert and strategist at R3 Continuum, told Newsweek that these pauses function as a phased approach: “They allow high-achieving professionals to downshift one or two gears while still engaging in activities that maintain purpose, social connection, and mental stimulation.
“Research shows that this kind of continued engagement can strengthen neural pathways, support cognitive health, and even reduce the risk of dementia later in life.”
Planning and Financing a Short Retirement
The study found that 40 percent of U.S. respondents expect to spend under $100,000 per mini retirement, while the average target savings level before starting a break is around $530,000. The most-cited funding sources are personal savings (49 percent), investment income such as dividends, interest, and capital gains (41 percent), and part-time or freelance work (36 percent).
However, Cirksena cautions that “saving $530K and spending under $100K on each break is not realistic for almost any average worker.”
“It could work for better higher earners but not for most households realistically,” he said. “Multiple retirements could also mean people end up working longer overall, but it may be on their terms. If it keeps people engaged and healthier while giving them flexibility, it’s not all bad—the challenge is making sure it’s financially sustainable.”
A Shift in Mindset
Breaks are also less about money and more about psychological endurance, Muller said, and could help ease some of the worries many Americans have about exiting the workforce altogether later in life.
“Research supports that intentional breaks give way to creativity and innovation and can even help people return refreshed, like a reset button for your career. And it wouldn’t be surprising if this, in turn, extended workforce participation over time, rather than stepping out altogether at a traditional retirement age. This approach could ease worries about nest eggs by extending income across a longer stretch.”
Read Newsweek’s full interview with the experts below.
Aaron Cirksena, founder and CEO of MDRN Capital:
“Gen X & Millennials are leading the mini retirement trend because they came of age during financial crises. They’ve seen how fragile long-term plans can be. They’re prioritizing life experiences earlier, and not waiting until 65. The idea of multiple breaks feels more realistic than the traditional all or nothing retirement plan.”
“So saving $530K and spending under $100K on each break is not realistic for almost any average worker. It could work for better higher earners but not for most households realistically. Multiple retirements could also mean people end up working longer overall, but it may be on their terms. If it keeps people engaged and healthier while giving them flexibility, it’s not all bad, the challenge is making sure it’s financially sustainable.”
Joe Galvin, chief research officer at Vistage Worldwide:
“Mini retirement,” the concept of intentionally taking extended breaks midcareer to travel, recharge, or explore personal passion projects, is increasingly popular. While this is nothing new and workers have long taken sabbaticals, the pandemic ignited employees’ desire to prioritize well-being. This has only further been amplified by rising rates of burnout and disengagement.”
“The study shows that Gen X and Millennials are leading the “mini retirement” trend. This is no surprise as burnout is particularly common among midcareer professionals, especially those in the so-called “sandwich generation” who are balancing the demands of raising children while caring for aging parents. These pressures, along with a variety of professional and societal stressors, make well-being and work-life balance a top priority. Brief, intentional pauses allow them to reset and return to work more focused, creative, and engaged. Over the course of a career, multiple “mini retirements” can help employees stay in the workforce longer while maintaining productivity and performing at their best.”
“For leaders, this trend is a clear signal: managing employees effectively means embracing flexibility, supporting work-life balance, and creating growth opportunities that don’t burn out your talent. While the job market is currently soft, demand for skilled, engaged employees will rebound, and organizations that cultivate flexibility now will be best positioned to attract and retain top talent when it does.”
“The changing employment landscape, where jobs are less plentiful, harder to find, and even harder to secure, is forcing some to reconsider whether now is the right time to take a pause, given the current economic climate. AI further complicates matters, as jobs and functions are rapidly being redesigned, demanding new skills, and potentially leaving folks behind the curve without the experience needed to compete.”
Christina Muller, a workplace mental health expert and strategist at R3 Continuum:
“These “mini retirements” are really a phased approach. They allow high-achieving professionals to downshift one or two gears while still engaging in activities that maintain purpose, social connection, and mental stimulation. Research shows that this kind of continued engagement can strengthen neural pathways, support cognitive health, and even reduce the risk of dementia later in life.”
“It makes sense that Millennials and Gen X are leading this trend. Both generations have lived through economic downturns and workplace culture evolutions, so they are agile to change. They recognize strategic pauses as playing the long game for longevity. Baby Boomers experienced more traditional career models, while Gen Z is still in the early stage of establishing financial security and could feel limited in taking such breaks.”
“The average worker will likely not save $530,000 before a mini retirement, except for those with generational wealth or top earners. We could see shorter, lower-risk, and lower-cost pauses that are boosted by side gigs or part-time work.
“Research supports that intentional breaks give way to creativity and innovation and can even help people return refreshed, like a reset button for your career. And it wouldn’t be surprising if this, in turn, extended workforce participation over time, rather than stepping out altogether at a traditional retirement age.
“This approach could ease worries about nest eggs by extending income across a longer stretch.
“It’s essentially less about money and more about psychological endurance. And by normalizing these breaks, we could see a generation or two ahead experiencing less burnout while preserving their influence and vitality well into their twilight years. More work doesn’t always bring more contentment—but more pauses just might.”