{"id":185245,"date":"2025-10-08T10:35:08","date_gmt":"2025-10-08T10:35:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/185245\/"},"modified":"2025-10-08T10:35:08","modified_gmt":"2025-10-08T10:35:08","slug":"could-your-career-benefit-from-the-multi-retirement-strategy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/185245\/","title":{"rendered":"Could your career benefit from the \u2018multi-retirement\u2019 strategy?"},"content":{"rendered":"

\u201cI\u2019d got to a point where my professional world was so demanding that I\u2019d almost lost what was important to me,\u201d says Lucy Coutts, recalling the moment when she realised her career was dictating her choices instead of the other way round. A specialist in AI innovation, Coutts cared about \u2013 and was good at \u2013 her job, but part of her knew that she needed to shift her frame of mind if she was to regain control of her future. \u201cI\u2019d worked with a lot of entrepreneurs and had always been impressed with how they\u2019d taken that leap of faith \u2013 so when I reached the end of a contract at work and the time came to decide what to do next, I realised this was my opportunity to explore something new.\u201d<\/p>\n

There are plenty of stories about burnt-out executives<\/a> throwing in the towel and starting their own businesses, but in Coutts\u2019 case, she had no intention of turning her back on her industry for good. \u201cI knew I wanted to go back to a traditional corporate career at some point, but what I decided to do in the meantime was to pause and figure out what brought me joy; what I was really interested in and passionate about,\u201d she explains. That turned out to be J\u00f3ia: the vintage-jewellery business that she spent eight months using her savings to build, taking it from conception to a stage at which it was financially sustainable. The process, she says, was immensely satisfying, enabling her to discover a different side of herself and giving her the confidence that, if she should ever need to step off the professional treadmill again in the future, she would have other skills to fall back on. \u201cNow that I\u2019ve done it, I think everyone should rethink how they see their careers,\u201d she says. \u201cI believe we\u2019re moving into an era where our paths don\u2019t have to be linear.\u201d<\/p>\n

Coutts is one of a growing number of people who are taking an intentional break in their careers and viewing the decision as a positive learning experience rather than a gap in their CVs. Traditionally, the only situations in which someone might take this kind of deliberate professional \u2018pause\u2019 have been through a sabbatical<\/a> \u2013 still an in-demand benefit at many companies, but usually limited to a fairly short duration and with a return to the company built into the conditions \u2013 or parental leave. This newer model, for which HSBC has coined the term \u2018mini retirement\u2019 in its recently published report on the subject, sees the individual quit their job entirely but with a view to coming back to the world of work after they have met certain personal goals. These could be anything from a desire to travel or learn a new language to a wish to spend more time with loved ones.<\/p>\n

What to Read Next\u201cI believe we\u2019re moving into an era where our paths don\u2019t have to be linear\u201d<\/p>\n

For Dr Cora Pettipas, a financial planner and retirement specialist at HSBC, the practice illustrates a fundamental generational shift in the way we think about work. \u201cIf you tried to follow the formula of success for your parents or your grandparents, it wouldn\u2019t work today \u2013 our careers have changed because the world has changed,\u201d she says. \u201cI think the stigma around the idea of a gap in your professional trajectory is disappearing, so people are feeling less guilty about the idea of a break.\u201d She has noticed the trend emerging strongly since 2020, which is surely no coincidence given the disruptive effect of the global pandemic on all our lives. \u201cIt was a terrible time, but I think it did a lot for how people look at their priorities. It really changed the way a lot of us feel about family and community.\u201d This is particularly notable among her high-net-worth clientele, for whom time is a precious commodity.<\/p>\n

\"coraAlex Rumford<\/p>\n

Cora Pettipas<\/p>\n

But if, as the report suggests, 49 per cent of us plan to take between two and three career breaks, each lasting between six months and two years, how will our financial planning need to shift to accommodate this so-called multi-retirement strategy? \u201cThere\u2019s a lot you can do in advance, whether that\u2019s building dedicated savings or exploring alternative income sources, as well as putting in place a proper risk-management plan that includes things like securing the right insurance,\u201d says Pettipas. Thinking about your return to work is also important, for example by building in time to fill in job applications towards the end of your time away.<\/p>\n

Crucially, though, you should not think of the retirement period merely as \u2018time off\u2019. Of the people surveyed in the report who had taken multiple breaks, 87 per cent said the experiences had enhanced their overall quality of life \u2013 something that Tim and Imogen Hartnell* confirm when reflecting on their decision to retire from the workforce in order to travel the world together. The couple, who got engaged in October 2024, chose to press pause on their careers (Tim\u2019s as a product lead in the technology sector, Imogen\u2019s in PR and communications) and set off on a six-month journey through 10 different countries, using the savings they had accrued from periods of living at home, along with airline points stored up from previous work travel. They initially considered sabbaticals (in fact, Tim initially negotiated one for three months, before deciding to quit entirely), but both felt they wanted the freedom to embark on their adventure without being tethered to a particular return date or destination.<\/p>\n

For Imogen, the benefits of the pair\u2019s time away were manifold: not only did the trip bring them closer as a couple, but it also gave them a fresh sense of perspective. \u201cIn a corporate job, it\u2019s easy to get caught up in being busy, whereas going out and seeing how other people live makes you realise your day-to-day concerns aren\u2019t the biggest thing in the world,\u201d she says. \u201cIt meant that we were able to come back and feel ready to go back into things with a new mindset.\u201d<\/p>\n

There\u2019s no doubt that taking multiple retirements remains a significant financial commitment that is not open to everyone \u2013 but for those who can make it work, Imogen is clear that is much to be gained. \u201cWe\u2019re now talking about using our parental leave<\/a>, if and when we take it, to travel, which is something I don\u2019t think previous generations would have considered,\u201d she says. \u201cI do believe that times are changing and moulds are being stretched.\u201d<\/p>\n

*Names have been changed for privacy reasons.<\/p>\n

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