Tuesday, September 28, 2010

Envious

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.

4 comments:

  1. I'm certainly envious also and would love to do that once my mortgage is paid off.

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  2. Hi Sue!

    Won'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.

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  3. 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.

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  4. Hi Louise;

    I 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.

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