
More young people are flipping the script on saving for retirement. A growing number of young people are saving for mini-retirements, during which they take time off to travel and enjoy life while they’re still young. For them, the idea of hitting pause on their careers and retirement savings during their prime years is worth it to avoid burnout and make the most of life. About 74% of young Canadians think they’ll be working longer than the traditional age of 65 anyway, so taking a couple of years off in the middle is a way to prepare for the long road ahead. This movement runs counter to the FIRE (financially independent, retire early) mindset, which has people saving up to 50% of their income each month so they can retire early. But in recent months, even some FIRE advocates have come forward to admit they wished they lived more when they were younger.