In this episode, Michelle and I discuss knowing two numbers, (1) monthly spending and (2) net worth, provides a great framework for understanding how much money we have available for our sabbatical. We also talk about two additional numbers, (3) FI number and (4) Coast FI number, that help create a clear picture of what our financial situation looks like relative to our overall spending needs. 

We also discuss the fear of unproductive time. I didn’t want to be a “bum” on my sabbatical. We discuss how the entire paradigm of work and time shifts when you are on sabbatical. 

I am now in my seventh month and I’m surprised at how much I am enjoying not working and impressed and the shift in my view of life. My only regret? Waiting so long to pull the sabbatical trigger!

Show Notes:

• “Trinity Study” - Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable 
• How to calculate your FI number by ChooseFI
• Rich, Broke or Dead? Post-Retirement FIRE Calculator: Visualizing Early Retirement Success and Longevity Risk
• Coast FI calculator

Community Time

• Thank you, Arjun, for your off-boarding checklist- check it out here
• Thank you, Steph for sharing Michelle’s Turn Your Layoff into a Sabbatical course
• Thank you Luca for recommendations on preparing sprouted oats: 

Check out Michelle’s New Course…

Turn your Layoff into a Sabbatical

What you’ll get out of this course

Layoff to Liberation

You'll be empowered to build a life beyond the walls of tech. Through authentic vulnerable sharing and guided conversations, you'll be able to deprogram yourself from seeing your layoff as a negative, but instead a golden opportunity to reinvent yourself and your career.

You will be equipped to design your own sabbatical

You'll receive curated exercises, readings, and reflection prompts to propel you on your journey.

These will cover expected sabbatical challenges: identity loss, money scripts, ambition, lifestyle design, and how to answer the question "What do you do?"

You will meet other creative thinkers in this space

Embarking on a sabbatical can seem lonely at times.

The real magic happens when you start connecting with other people on similar journeys who understand your fears, celebrate your wins, and encourage your dreams.

So we'll pair you with another person whose circumstances mirror yours

You will gain a framework and vocabulary to think about your sabbatical

Both co-hosts completed 12-month sabbaticals after leaving tech. In that time, we've published essays and worked alongside the leading sabbatical voices in this space.

We'll share our framework and vocabulary to help you conceptualize the design and phases of your journey

Click here to sign up

Find more show notes and interact with the Build A Wealthy Spirit community at buildawealthyspirit.com!