I know someone who is finishing the last year of a 4 year teaching stint whereby next year, the 5th will be sabbatical year.
How it works is that they chose to live off of 80% of their salary for 4 years and the 20% got banked so that the 5th year is funded 80% as if it was a regular year.
In theory, with some discipline, anyone could do the same. I'm not sure I could. There is debt to pay off, savings that could always need boosting. I'm holding off until I am free from all that.
Come to think of it, my thinking doesn't make me sound very serious about wanting to take a year off when I've been dreaming of it for years! I may have to revisit my thinking on all this.
The family who is taking the sabbatical has 2 children and plan to use the time to do a bit of road tripping. I love the concept and am seriously envious of the time they will have.
I'm certainly envious also and would love to do that once my mortgage is paid off.
ReplyDeleteHi Sue!
ReplyDeleteWon't be long then for you!
I'm going to have to run some numbers to see how much I would have to put aside to do something like this.
In this case, the mom is taking the full year and the dad will be off for the 2 summer months. I would like to be like the mom and have the full year off.
I can do this in my job. I'm thinking of doing once I'm debt free, then I could take a year off and travel, try out retirement but know I have a job to go back to.
ReplyDeleteHi Louise;
ReplyDeleteI hope it will be very soon for you! I know no job's perfect but knowing you will have one to back to is a huge perk that you can put a price on.
For me, I would be starting over again as my clients would have been referred elsewhere in order for me to take the time off. Whether they would come back, I don't know.