Generation Z has now come up with another new term you’ll be hearing more about, it’s called "micro-retirement." The concept of "micro-retirement" is to take time from work while you are still young, rather than deferring all your future leisure plans to the later years of life.  

Some people just call this being unemployed for a while. Others call it taking a sabbatical from work. This new trend is sweeping through Generation Z and are they on to something smart or is this going to create an even more cratering financial effect on their financial future? 

OK. I must make a confession. At 55 years old, it’s hard to get my head wrapped around needing a big ‘break from work’ in your 20s. 

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Brittney Foley, 26, is a woman who is opting for a micro-retirement. She explained that taking smaller career breaks earlier in your life is perfect when you don’t have kids as you can quite literally do whatever you want. This is assuming you can afford it. Although, with national credit card debt at a staggering $1.2 trillion and the average credit card balance soaring past $6,000, can Generation Z really afford it? 

Brittney said, "With other people my age, there’s so much pressure to chase promotion cycles and raises, and everyone is so burnt out." Burnt out? At 26? 

This generation has decided to flip the script of how they view their own financial plan, which is live for today and don’t worry about tomorrow.  

There is a much more cynical view from people in their 20s that they will be able to afford a home, retire comfortably and reap the benefits of Social Security. So, we are witnessing a counterculture of younger people turning the retirement script upside down with this idea of having three- to six-month breaks in between their next career move. 

A very close friend of mine has a daughter who left Google recently at the age of 30. She had done very well there, rising through the ranks and building an income of almost $300,000. But, feeling the passion to live for today, she quit the job and is currently living for four months in Hawaii and then off to two months in Bali before she figures out her next career move. Is this something that Boomers and Gen Xers should have done when they were younger? 

The phrase micro-retirement was first described in "The 4-Hour Workweek," a self-help and careers guidance book published by the entrepreneur Tim Ferris in 2007.  However, most young people may not fully think about the financial consequences of these mini-retirement decisions. 

Your 401k/retirement savings: For Gen Z workers, they need to look closely at the matching and profit-sharing contributions from their company. Often, these contributions made by the employer have a vesting schedule and it could be a horrific financial move to walk away from unvested money that could have a substantial impact on your retirement balances over the long haul. 

Your ability to earn the same income … or more: The strategy of micro-retirement assumes you’ll be able to re-enter the workplace quickly and at the same income or more. Part of growing your income, bonuses and potentially company stock is often tied to your tenure with a company.  

It’s unknown yet how employers will view someone who has two, three, or four breaks in their resume to micro-retire and whether they will want to hire that person knowing they could quit in a couple of years after the employer invested tons of time and money training that new employee. 

Your Social Security: While some Gen Z workers believe they will never see a dime of Social Security, it’s important to account for how a break in your income will affect your long-term Social Security. It’s likely the full retirement age for those in their 20s will be past the age of 67, but having gaps of income could make your overall Social Security lower down the road and impact your overall retirement. 

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Debt: What’s most worrisome aspect of this new trend is the debt that younger workers in America may take on to achieve a mini retirement. Most people in retirement aren’t jet-setting around the world and often these micro-retirement breaks are partnered with exotic vacations or luxury travel which could increase the debt load on younger people. 

This new trend that emerged on TikTok sees Gen Z workers from around the world vowing to take periodic breaks from the office to protect their "mental health" — despite being several decades away from the retirement age. 

On one hand, I’ve done financial plans for many people in their 40s and 50s who are seeking an early retirement to start to enjoy their hard-earned money and savings. However, many of those people often worry about running out of money, so they’ll extend the amount of time they work another five or 10 years to be sure they have enough retirement savings to do whatever they want to do in retirement. In some cases, health issues that arise like a bad knee or hip or something even more consequential may stop them from fully enjoying the assets that they have saved up. 

You could say it’s irresponsible to not focus on saving and planning for your future to just enjoy every nickel and more that you have in the bank today. 

You are not only applying a much narrower window of achieving retirement success with micro-retirement, but it could also cost America billions of dollars to take care of people who didn’t save because they wanted to spend their money today. Are you ready to bail out people for their future retirement like people got bailed out for college loans? 

So, who has it right? Those of us that toil away, max out our 401(k), pay down our house quicker and save that bucket list for when we retire? Or does Gen Z have it right with the attitude that tomorrow is never promised, who knows when we will have a COVID-19 like event again? You should just sit back, assume you’ll work forever, and soak up as much fun as you can when you are in your 20s and 30s? Time will tell if this is another fad, or it will become a staple of how people live in the future.  

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A man who is 92 years old is not only still competing in his activity of choice, he's teaching others the secrets of how to live a long, healthy and fulfilling life.

Ivan Pedley, a retired toolmaker, plays ping-pong twice a week and said he has no plans to stop any time soon.

The grandfather of three took up the paddle sport when he was 14, news agency SWNS reported. Now, 78 years later, he's still playing.

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The retiree plays roughly 14 games a week at the Great Wyrley Table Tennis Club in Staffordshire, West Midlands, England.

He often goes up against opponents who are much younger, SWNS said.

And while he may have slowed down a bit over time, Pedley said he rarely gets knocked off the table and that success at the sport is all about "technique."

He said regular ping-pong playing helps him stay fit and healthy and that continuing to play it well into his senior years is the best thing he's ever done.

"I enjoy every minute of it.", said Pedley, who lives in Walsall, West Midlands.

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"It's the best thing I've ever done. I don't know anyone older than 92 playing." 

He said that while others who play might be "faster" than he is, "it's all in the technique."

There are "a lot of people in their 60s" who play, he said, "but I play the younger people, too. I try to play everybody at the club.

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"I'll keep going for as long as I can, as long as my health stays. Sitting on your backside is no help to anyone."

He said he first found his passion for ping-pong while he was a teenager and let it go for a while when he was in his 20s.

But once he reached his 60s, he rediscovered his love of the sport after a chance game with a friend while on vacation, he said.

He then started playing regularly again while also continuing to stay involved in bowling, swimming and judo. He's a brown belt.

Pedley said he believes he's gotten better at ping-pong because of the standard of skill in those he's playing against these days.

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He added, jokingly, "I do let these [them] win sometimes, though, because I don't want to dishearten them."

Pedley goes to the club on Tuesdays and Fridays, he said, spending up to three hours each time.

"I don't want to sit here and do nothing," he said. "I like to keep myself healthy. … I keep going. It makes me get up and do it.

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"Once you're committed, you have to try and turn up. I'd tell anyone to join a club to start with.

"I've done amateur competitions. I've got certificates from what I've achieved at table tennis."

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"He'll always put his heart into it," club Secretary Tony Reeds told SWNS about Pedley/.

He said Pedley will play against "anyone" who comes into the club to play ping-pong.

"He's part of the furniture now. He's had some good games."

Pedley tells people, "If you want to keep fit, this is the way to do it," Reeds noted.

Older people are wise to stay active, eat well, remain connected to others and take care of themselves both physically and mentally in other ways as well, health and medical experts have long said. 

A man who served in World War II as an airman recently turned 100 years old — and celebrated in style with two different birthday parties. 

He also said the smartphone has been one of the most significant inventions in his lifetime — plus shared his tips for living a long and healthy life. 

John Fife, who lives in Clevedon, in North Somerset in the U.K., turned 100 on Dec. 26, 2024, news agency SWNS reported.

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He celebrated first with family and friends at a hotel — and second with friends and neighbors in the lounge at Coleridge Court, a McCarthy Stone Retiring Living development, as SWNS noted.

He said, "I feel very fortunate that I still enjoy good health and am able to get out and about."

Born and educated in Edinburgh, Fife said he was called up for national service with the Royal Air Force in 1943. 

He trained as a wireless operator and air gunner in the RAF, SWNS said. 

He then served with Coastal Command Air/Sea Rescue until he was demobilized in 1946.

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After leaving the military, Fife got married and started a career in the civil service with the Post Office Savings Bank in two different locations.

He, his wife and their two sons moved to Glasgow in 1966 where, following the separation of the Savings Bank from the Post Office, he worked on setting up a new headquarters for the Savings Bank, known today in the U.K. as National Savings & Investments, the same source noted.

During this time, he received special recognition for his services.

"In 1970, I was presented to Queen Elizabeth II on her visit to the headquarters of the new Department," Fife said, as SNWS reported.

He retired from the Civil Service in 1984 and moved to Clevedon to be nearer his sons.

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So how does he keep active even today? 

"I start each day with a fixed goal, such as a long walk or going to church, and I love completing jigsaws," he said, as SWNS reported.

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He said he's also "made new friends and started new activities since moving to Coleridge Court in 2022."

When asked for his secrets of living a long life, Fife was quite clear.

"Make a decision to do things and carry them out and do what you can to help the less fortunate," he said.

He said medical advances throughout his years on Earth have been extraordinary — and also named the smartphone as probably the most significant development he's witnessed in his 100 years.

The saying goes that a cobbler’s kids have no shoes. But my own experience in creating an estate and legacy planning product after the passing of my father over a decade ago has ensured that I practice what I preach.  

Given that I know how important formalizing my wishes and information is, I recently updated my own estate plan. Here’s why you should update yours, too — or get on it if you haven’t already put one in place. 

Whether you are asset-heavy or asset-light, have many dependents or none, or have complex or simple affairs, putting an estate plan together is critical to make sure your wishes are carried out and that your loved ones aren’t overwhelmed by the process. Being organized now helps save your loved ones’ time, money and grief when they need it the most. 

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So, what should you put in place or revisit? 

First, make sure you have an updated will. This will legally set forth your wishes and make the process easier for your loved ones to work through. From clarity on what happens to your assets and personal effects to even who gets your loyalty points, being thoughtful up front assists your loved ones in carrying out your wishes while minimizing fighting between family and friends.  

My suggestion is — if you have a family dynamic that allows for it — include your loved ones in the process. This way, family members can voice their concerns and thoughts while you are still alive and feel like they are part of the process. Plus, some of the decisions may impact them directly, such as if family members want to be buried near each other and need to secure burial plots.  

Or perhaps some family members are more comfortable playing certain roles while other members don’t want the responsibility. A frank conversation can help sort this out now when emotions aren’t in overdrive. 

While there are online options to get a quick will, and that is certainly better than having no will, you may want to contact an estate planning attorney, who can give clarity on state rules that pertain to estates. Attorneys can often offer up strategies or referrals for information around tax planning and efficiency as well. They will also make sure you have the appropriate witnesses and notarization as required by your state. 

My estate plan also includes powers of attorney for healthcare decisions and personal property decisions. Powers of attorney grant someone the ability to make a decision on your behalf if you cannot make those yourself, such as due to an accident or other mental incapacitation.  

In addition to deciding who plays that role, it sets forth parameters for that person to follow. Your healthcare power of attorney can include directives around organ donation and burial vs. cremation, among other health and final wishes decisions.   

While putting together your will and powers of attorney are great first steps, they won’t cover all your wishes and information. Think through your digital assets. What do you want your loved ones to have access to from your digital files, and what do you maybe not want anyone to see? Do you want a note left on your social media account to alert friends who may not hear about something happening to you? This is something you can put into your will directly or lay out in the given location within your legacy and wishes planning kit. 

And, as you put this plan and related directives together, make sure your loved ones can find everything! It doesn’t help to have a will or power of attorney that nobody can find! I previously wrote about the Aretha Franklin will saga, where no will was found, then several different copies surfaced, including one found in the cushions of her couch. The ensuing legal battle took five years to resolve!  

You want to make it easy for your loved ones to find your wishes, information and documents. Consider building out a full legacy and wishes planning kit, like my Future File kit or similar kit you put together, that contains any information plus anything physical that a loved one or estate executor may need to access in one place. 

This is where copies of your will and powers of attorney should be left. If you don’t want to physically put them in the kit, you can instead leave instructions on how to access them.  

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I hear from people that things like safe deposit box keys often are a major challenge to find if they are not organized in one location, like a legacy kit. Sometimes, a loved one may not know how to contact your estate planning attorney, accountant, financial advisor, bank, or other key service providers. This information should also make it into your kit as part of a comprehensive estate plan.   

A side benefit of having a kit is that you have one thing to grab in case of an emergency situation, whether that be an accident, natural disaster or otherwise. 

How should you get started on your estate plan or your update? Consider getting a kit like Future File that asks questions and helps you think through your wishes. Where prompted, take that information to expert service providers, starting with an estate planning attorney, to get your legal documents in order. Finally, make sure your loved ones can access that information you can put together. 

Even though I did my estate plan and legacy kit a while ago, circumstances changed and I felt a ton of relief after finishing an update. 

Don’t put it off — nobody knows what tomorrow may bring, as we are constantly reminded. It will give you peace of mind to know it is taken care of and will save your loved ones a lifetime of grief, as well as a ton of time and money in their time of need. 

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Jimmy Carter, the 39th president of the United States who died at the age of 100 on Sunday, Dec. 29, 2024, had been living in hospice care at his home since Feb. 2023.

Back in May, Carter's son, Jason Carter, said in a speech at the Carter Center in Georgia that his grandfather was "doing OK."

Jason Carter also praised the "outpouring of love" the Carter family received since the passing of the former first lady Rosalynn Carter in Nov. 2023.

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"He has been in hospice … for almost a year and a half now, and he really is, I think, coming to the end," Jason Carter said at the time.

"I’ve said before, there’s a part of this faith journey that is so important to him, and there’s a part of that faith journey that you only can live at the very end, and I think he has been there in that space," the grandson also said.

Carter had experienced multiple health issues in recent years.

Following liver surgery to remove a mass in 2015, the former president was diagnosed with melanoma, which had spread to multiple areas of his brain, according to reports.

After surgery and several months of treatment with radiation and immunotherapy, Carter’s cancer cleared.

Carter had since experienced a bout of dehydration and several falls that led to a broken hip, pelvic fracture and other injuries, per reports.

Carter’s wife of 77 years, Rosalynn Carter, also entered hospice in Nov. 2023 alongside her husband. She died just a few days later at the age of 96.

Some experts have praised the Carter family for sharing the details of the couple’s journey through aging, hospice care and death.

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"It’s been massive to have the Carters be so public," said Angela Novas, chief medical officer for the Hospice Foundation of America in Washington, D.C., according to an Associated Press report. 

"It has shed hospice in a new light, and it’s raised questions" for people to learn more, she added.

"Hospice is health care for people who are dying," Dr. Harold Braswell, associate professor of Health Care Ethics at St. Louis University and author of several books related to end-of-life issues, told Fox News Digital in November.

This type of medical care is "interdisciplinary," the doctor noted, including a mix of medical, psychosocial and spiritual support. 

It also includes assistance with day-to-day activities.

Hospice care focuses on managing symptoms and making patients as comfortable as possible rather than administering treatment for a disease or ailment.

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A person becomes eligible for hospice after receiving a medical diagnosis with six months or less to live, according to Braswell.

"Hospice is not curative care," said Braswell. "It is not oriented toward curing a patient's medical condition — and qualifying for hospice generally requires that a patient abandon curative interventions such as chemotherapy."

Hospice is also not seen as a replacement for nursing home care or other residential care, and is not intended to "hasten death," according to the Hospice Foundation of America (HFA)’s website.

It also does not encompass 24/7 care, the HFA noted. Instead, hospice team members generally visit the patient and family caregivers as needed.

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Most U.S. hospice patients receive care in an outpatient setting, such as their private home, a nursing home or a long-term care facility, Braswell told Fox News Digital. 

"Some hospices — a relatively small number — offer inpatient care, though this is only for a very short amount of time, generally for people who are actively dying," Braswell said.