There must be some truth behind the oft-uttered phrase, "Variety is the spice of life." Otherwise, why would there be such a thing as retirement? If folks didn't appreciate a change of pace and scenery, they'd just keep on working.

Unfortunately, the typical lifecycle doesn't provide that much variety. We are, as The New Retire-Mentality author Mitch Anthony put it, a binge society: We first binge on education, then we binge on work during our career years, then we binge on free time in retirement.

What if there was a way for you to take a few months or even a year off from your current "binge" to try something else? Whether you're retired or still working, it might be time to take a sabbatical. The length and logistics are up to you, but here are some possibilities:

• Go back to school, either for the intellectual stimulation or to prepare for your next career.
• Do extended, full-time volunteer work.
• Try out another job or jump-start your own business. Perhaps start by taking a vocation vacation.
• See what day-to-day life is like in another part of the country -- or in another country altogether.
• Live in an RV, on a ranch, in the mountains, or on a beach (perhaps by trading homes with other sabbatical seekers).
• Test-drive retirement (for those still working).

One of the best decisions you'll ever make is to take a break from your current life and do something you've always wanted. But before you check out for a while, here are some questions you'll have to answer.

How Will I Pay for It?

For those still working: If you'll be taking a break from your current job to try out another, then the question is whether you have enough savings to cover a shortfall. If you'll be taking a break completely from paid work, analyze your budget to see how much savings you'd need to live without a paycheck for a month to a year. Keep in mind that savings-generated income is taxed at a lower rate than work-related income, plus you won't be paying Social Security and Medicare taxes.

If most of your money is tied up in retirement accounts, start by taking out the contributions (not earnings) from Roth accounts, which come out tax- and penalty-free. You'll pay ordinary income taxes on money withdrawn from a traditional IRA, plus a 10% penalty if you're not yet 59 1/2 (though there are exceptions).