HSBC has said a growing trend for ‘multi retirements’ - where people take planned breaks from work throughout their careers - should resonate strongly in the Isle of Man and Channel Islands as established private wealth centres.

The bank’s latest global report suggests the traditional model of a single retirement at the end of a career is being replaced by what it describes as a ‘work-retire-work’ cycle, with affluent investors increasingly planning multiple intentional pauses to reset, retrain or spend time with family.

The findings are contained in HSBC’s Quality of Life: Affluent Investor Snapshot 2025, which surveyed 10,797 affluent adults across 12 markets. Respondents were aged between 21 and 69 and held investable assets of between 100,000 US dollars and 2 million US dollars.

According to the report, almost half - 49% - of those intending to take a ‘mini retirement’ expect to take two or three during their lifetime. The preferred duration is six to 12 months, cited by 32% of respondents, with the ideal age for a first break identified as 47.

Gen Z and Millennials are leading the trend, aspiring to take an average of three such breaks over their working lives. However, the report suggests the concept spans all generations.

Alvaro Teixeira, Head of International Wealth and Premier Banking at HSBC Channel Islands and Isle of Man, said the findings should strike a chord locally.

‘As finance centres specialising in private wealth services, these findings should really resonate across the islands,’ he said.

‘The data shows multi retirements are not a generational fad or a more traditional career break. Multi retirements are a mindset shift, with some individuals increasingly taking time out to focus on living their wealth, not just accumulating it.

‘They aren’t viewing it as stopping work or their careers, rather, taking new directions that feel more aligned to their values and needs of their families.’

Globally, the top motivations for taking a mini retirement include spending quality time with family, cited by 34%, focusing on wellbeing at 31%, travelling without the constraints of limited annual leave at 30%, and pursuing personal development at 28%. A quarter said they would use the time to reassess career goals or pivot to new opportunities.

The financial commitment involved is significant. Forty per cent of respondents estimate they would spend up to 100,000 US dollars per break, while the estimated global average spend reaches 339,800 US dollars.

Funding methods vary by age group. Gen Z respondents were more likely to cite starting a business or generating income through digital products or social media. Millennials, Gen X and Baby Boomers said they would primarily rely on personal savings, with many Baby Boomers also drawing on pensions or retirement accounts.

Mr Teixeira said the trend underlined the need for careful financial planning.

‘What’s clear is that achieving these goals requires careful planning and foresight, and the private wealth sector in the islands should be alive and responsive to that, as we look to help clients navigate the complexities of planning for a multi-stage retirement.’

HSBC, headquartered in London, operates in 57 countries and territories worldwide and reported assets of 3.214 trillion US dollars aS OF 30 June 2025.

The full report is available via HSBC.