The Money Mustache Community

General Discussion => Welcome and General Discussion => Topic started by: MisterTwoForty on March 18, 2017, 08:57:21 PM

Title: Gap year
Post by: MisterTwoForty on March 18, 2017, 08:57:21 PM
I would like to get everyone's thought on a gap year.  Have you done it?  Would you recommend it?

I am about 5 years out from FIRE and not sure if I like my current situation or not.  Thinking maybe a gap year.
Title: Re: Gap year
Post by: RedmondStash on March 18, 2017, 10:17:21 PM
What do you mean exactly by a gap year? Taking a year off to try retirement on for size?

Spouse & I did something similar, took 6 months off for a retirement trial run. Turned out our spending was higher than we expected, and we weren't ready to retire yet.

I recommend it if you can afford it. It was enlightening and kind of fun.
Title: Re: Gap year
Post by: Monkey Uncle on March 19, 2017, 05:01:17 AM
I'd say it depends on your prospects for getting your old job back (or something similar).  If you have to take a big pay cut when you go back to work, that will extend your time to FIRE, obviously.  If that's a possibility, I'd recommend you just tough it out until you can FIRE for good.
Title: Re: Gap year
Post by: marty998 on March 19, 2017, 05:07:06 AM
I should have taken one.

Trying to make up for it now with lots more travel.
Title: Re: Gap year
Post by: MisterTwoForty on March 19, 2017, 08:00:27 AM
Long story short, I am in a new industry not by choice.  Initial indications point to it maybe not being something longer term.

I can afford to be off for several years, plus I may look into self employment.

I am sure I could find a comparable job at the end of my gap year, and most likely not in the same geographic area I currently am in.
Title: Re: Gap year
Post by: Spork on March 19, 2017, 09:48:00 AM
I took a 3 year gap.  Not on purpose, mind you.  I intended to take a 6month to 1year gap.

Pros:

Cons:
Instead I was living off of funds that were selling at bargain prices.  But there is no predicting this.... This was just bad luck on timing.[/li]
[/list]
Title: Re: Gap year
Post by: sam on March 21, 2017, 05:21:48 AM
Some will sell their dreams for small desires
Or lose the race to rats
Get caught in ticking traps
And start to dream of somewhere
To relax their restless flight

Lovely poem!

I took a month off to travel and ended up travelling for 13 months (although around 6 of these I was working 'odd jobs'). This was four/five years ago I'm now planning on quitting my job of three years and travelling for three months this September with my SO.

Highly recommended as it really 'took me out of myself' and I came back quite different.

Sam
Title: Re: Gap year
Post by: Spork on March 21, 2017, 07:58:53 AM
Some will sell their dreams for small desires
Or lose the race to rats
Get caught in ticking traps
And start to dream of somewhere
To relax their restless flight

Lovely poem!

You may thank Neil Peart:  http://www.azlyrics.com/lyrics/rush/subdivisions.html