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Wednesday, March 18, 2015

The Hobbyist

Most people remember childhood as a particularly fertile period for hobbies.  Before they were introduced to career and family responsibilities, they collected stamps, coins, matchbooks, or model airplanes, and they experienced a flush of excitement each time they the added to their collections or spent blissful Saturday mornings reorganizing them.
   If you've lead a busy life, chances are that you haven't dusted off your old collections in years.  Retirement is a great time to return to the hobbies of your youth--or launch new endeavors. 

Hobbies can involve almost any activity that you pursue in a repetitive or comprehensive way, and you can structure hobbies to your needs and preferences.  Reading, for example can be a rewarding hobby; it you regard that as too passive, you can satisfy your interest in literature by collecting signed first additions of your favourite books.  Regular exercise is a healthy hobby--but if you find an exercise regimen to taxing, supporting your favourite teams can get you involved in sports in a less demanding way. Once you determine the area of interest, it's easy to find an approach the works for you.

One thing to keep in mind as you visit or create hobbies--these pursuits often carry a price tag.  Daily workshops may require purchase of  exercise equipment or membership in a fitness center. Becoming a diehard sports fan may involve the purchase of game tickets, as well as travel and parking costs at sporting arenas.  If your hobby involves renovating cars or other types of equipment, you may have to lay money for parts.  In some cases however hobbies can lead to moneymaking ventures.

Remember to add a line in your retirement budget for hobby costs. Your hobbies don't have to generate revenue for you--creative engagement is the principle purpose here--but if they do, so much the better.

This material  comes from THE DON"T SWEAT GUIDE TO RETIREMENT  ISBN 0-7868-9055-X
Richard Carlson, the author can be visited on his website

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