In today’s world, being time poor has become the norm for many. The idea of working non-stop without a break is often glorified as dedication, yet it comes at a heavy cost to our health and happiness. What if instead of waiting until old age, we could experience the freedom and richness of time throughout our lives? This post explores how financial independence and mini-retirements can help you gain control over your time and create a life you truly enjoy.
The Reality of Being Time Poor
Imagine rushing through days, juggling deadlines, and skipping breaks because you're on the fast track to a high-profile role. That was the reality for Lacey Filipich, who spent 18 months working relentlessly in the mining industry. She believed her career was so important that taking even a single day off was impossible. The result was a body and mind pushed far beyond their limits.
Neglecting personal wellbeing led to weight gain and eventually a severe illness that left her bedridden for five weeks. During this time, she experienced helplessness and hopelessness, as she felt powerless over her health. The motivation that had driven her career suddenly meant nothing against her physical state.
The consequences went beyond temporary illness. Lacey lost half the hearing in her right ear and suffered stress-related teeth damage, which she calls her “mouth bling.” These were irreversible effects of long-term neglect. But this health crisis became a wake-up call. She took leave without pay and traveled through South America with her partner.
Visiting remarkable places like Machu Picchu, a man-made marvel, gave her a fresh perspective on life. It was her first mini-retirement—a purposeful break that redefined her relationship with work and time. After seeing six countries in three months, she was filled with the realization that life had so much more to offer beyond the grind.
The Impact of Personal Loss on Life Perspective
Just as Lacey began to rethink her life, tragedy struck when her sister Megan died by suicide at age 24. This devastating loss raised urgent questions:
- Why do so many of us work ourselves to exhaustion?
- Why do we sacrifice time and happiness for jobs that don’t fulfill us?
- How replaceable are we really in the workforce?
Lacey realized her relentless work ethic was essentially making her disposable to the company she worked for—a company that would replace her in a week if she broke down. This painful truth made her question the value of sacrificing her health and life for a job.
Seeking answers, she turned to self-help books and discovered Tim Ferriss’ The 4-Hour Workweek. The book introduced her to a crucial idea: time is our most precious, non-renewable resource. We all have the same 24 hours as anyone famous or successful, yet most of us feel like it's never enough.
Key takeaways about time from this insight include:
- Managing how you use your hours is crucial.
- Working constantly isn’t the same as working effectively.
- Life is too short to wait for time-rich years at retirement.
Understanding the Traditional Retirement Model
Retirement as we know it is a relatively modern invention and not necessarily a natural part of life. It first appeared in the 1880s in Prussia as a response to social pressures and was initially set at age 70, which reflected the average life expectancy then.
Retirement became more common after the Great Depression as a way to free jobs for younger workers. However, while average lifespans have increased significantly, the retirement age remains in the mid-60s for most developed countries.
This means many of us can expect about 20 years of retirement—years when we finally have the time we crave. But the problem is, by the time we’re time rich, we might not have the health or energy to enjoy it fully.
Traditional Retirement vs. Mini-Retirements:
| Factor | Traditional Retirement | Mini-Retirements |
|---|---|---|
| Timing | End of life (mid-60s+) | Throughout working life |
| Duration | One long retirement period | Multiple short breaks |
| Work-life balance | Front-loaded work years | Balanced with breaks over time |
| Health and energy | Often decreased at retirement |
Better health during mini- retirements |
| Freedom to choose time |
Limited until retirement | Ongoing choice and flexibility |
Mini-retirements invite us to rethink how we structure work and rest across our lives.
Mini-Retirements: Redesigning Work and Life
Tim Ferriss popularized the idea of mini-retirements as small breaks from work spread throughout life instead of one big retirement at the end. These breaks allow you to refresh, explore, and live fully while you’re still young and healthy.
Lacey’s South America trip was her first mini-retirement, giving her the joy and clarity she’d missed before. Later, she quit her conventional job and took several mini-retirements over five years, totaling almost two years off. During her working periods, she did consulting and worked on her startup, balancing income with freedom.
Many wonder how someone in their 20s can afford such time off. Ferriss suggests creating a muse, an online business generating passive income, so money flows even when you step away. Another popular strategy is FIRE—Financial Independence, Retire Early.
These strategies help fund mini-retirements, allowing freedom without financial stress.
Exploring the FIRE Movement (Financial Independence, Retire Early)
Defined in the mid-1990s by Vicki Robin and Joe Dominguez, FIRE emphasizes living below your means, saving aggressively, and investing wisely to gain financial independence early.
Here's how it works, illustrated by the story of Fred (aka Pete Adeney or Mr. Money Mustache):
- Fred graduates and starts his first job.
- Instead of increasing spending, he lives like a student, saving 60% of his income.
- He invests those savings in assets like property and index funds.
- After 10 years, at age 30, income from his investments covers his living expenses.
- Fred can now choose to retire early or work on projects he truly cares about.
Lacey’s own path to FIRE began even earlier. Growing up, her mother taught her to save and understand compound interest. By age 19, she bought her first property instead of a car, an investment choice that set her up financially.
She continued to invest during her career in mining, eventually reaching financial independence at 31, just as her first child was born. This allowed her to take time off to be a stay-at-home mom without financial worries.
Later, Lacey dedicated her life to financial education through her startup, Money School, helping others learn the skills for independence, especially young people who aren't taught about money in school.
Moving Beyond Retirement: Becoming Time Rich
FIRE isn’t about quitting work forever. Those who reach financial independence don’t typically become idle. Instead, they work by choice, focusing on meaningful projects, volunteering, or starting businesses driven by passion rather than money.
The goal is to be time rich—to have the freedom to decide:
- When you work.
- Where you work.
- How you work.
- What you work on.
- Who you work with.
The power to choose these things makes all the difference. As Lacey says, the point is to control your life’s seconds, minutes, hours, and days.
“Don’t make early retirement your goal, make your goal time rich.”
Why the World Needs More Time-Rich People
Our society faces major challenges like overpopulation, pollution, homelessness, war, and food security. Solving these issues requires creativity, time, and focus—resources that many can't access when tied down by financial pressures.
When people are time rich, they can commit to causes that matter, innovate, and contribute to meaningful change. This benefits not just individuals but all of us as a society.
Saving, investing, and pursuing financial independence aren't just personal goals—they are ways to free yourself to make a genuine impact on the world.
It’s about reclaiming your time and using it for what truly matters. The future needs your time, talents, and energy.
Embrace financial independence and mini-retirements to unlock your time, your life, and your potential.
For more inspiring stories and ideas on managing money and time, explore the Buxone Archive where similar financial topics are covered.
Experience the freedom to design your own life with purpose and balance.
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