The Great Mini Retirement Myth: How Much Do You Really Need? The idea of a mini retirement has gained traction in recent years, with many people seeking to take a break from the daily grind and recharge.
However, planning for this shorter term escape often involves a flawed math problem. According to a survey by HSBC, 37% of American respondents aim to save $530,000 or more for a six to 12 month mini retirement.
This number may seem daunting, especially considering the average savings rate in the United States is woefully inadequate.