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Old 12-29-2011, 03:37 PM   #21
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How did you ever find time to accomplish all this while working? It sounds like it would almost be a second (fun) job!


Originally Posted by Midpack View Post
I'd pretty much done everything in boating (cruising, racing, oceans & Great Lakes) I ever hoped to accomplish.


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Old 12-29-2011, 03:46 PM   #22
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Two hobbies:

Photography, Had to put that on hold since digital cameras took over 35mm film so I haven't replaced my present Nikon. I found it too expensive to purchase and develop film and the new Nikon Digital is just too expensive.

Antique Car, I'm presently doing a body off restoration on over 35 year old car. I only work on it during the summer since winter weather here is not very forgiving and I try to get parts when ever I see a sale. Should be done in a couple years. In the mean time I drive a newer one that's already road worthy but stored for the winter.

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Old 12-29-2011, 03:57 PM   #23
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My expensive hobby is golf, but it may be eliminated or cut back in 2012. My club is on the verge of going belly up. Our membership is less than half of what it was just 5 years ago. If it does go under, I can play the Navy base course nearby pretty cheap and there are a couple of small clubs 20 miles or so I could play. Probably won't join the other country club in town as it is more expensive than my current one and requires a pretty hefty up front fee. After my mom is gone, I won't have any relatives in this town so I might move anyway.
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Old 12-29-2011, 05:41 PM   #24
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Originally Posted by ChadR View Post
I'm curious how many people on the road to FIRE or after FIRE have managed to give up an expensive hobby or activity? How did you do it and what did you replace it with? Did you come to terms with it and accept its impact on your FIRE goals?
I decided what was worth more to me: expensive hobbies, or not having to work to support my vices.

You have to decide what brings value to your life and set a spending plan. That means if it's an expensive hobby, it only has value to you if you're willing to keep working to be able to afford it. If you're not willing to keep working for it then it might not have as much value to you as you think.

Originally Posted by ChadR View Post
I'm an extreme LBYM person and have a history of aggressive saving since my first job.
Currently, I actually have an extremely modified 68 Camaro that I take to track days (driving your street car on a road course/race track). I also, until recently have been an avid wakeboarder.
These two hobbies have had a HUGE impact on my finances that goes way beyond the purchase cost of the items themselves, which is enormous. These hobbies pretty much force me to have a two car garage, a storage site for the boat, a tow vehicle, etc.
My wife and I recently moved and while we were able to reduce our housing costs by 25% we could of reduced it another 10-20% if I didn't need a two car garage to support these two hobbies. I also bought a new to me SUV because my previous tow vehicle was worn out. The incremental costs of these two hobbies add up pretty quick.
I bring my frugal habits to these hobbies as well (buying used/using my mechanical skills to refurbish/keep older items working) but they are still insanely expensive.
I honestly don't know if I can give it up.
If these sentences were written by someone else on this board, would you think that they were logically consistent?

How can you claim to be both "extreme LBYM" and "frugal" when you spend money on things that have a "huge impact on your finances" and "enormous" costs, and are "insanely expensive"?

Originally Posted by REWahoo View Post
That's a calculation you'll never see me attempt...
... and then there's grandkids!

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Old 12-29-2011, 07:25 PM   #25
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I totally understand where you are coming from. I like to do track days as well and that costs about $300 for a weekend, not counting hotels, gas and wear and tear (which is significant!). Right now I only have time to do about one weekend a year so it's no big deal, but I hope to do more when I retire. My decision is that it's something I like to do, so if I have to work another year, say, to support a hobby like that in retirement, then so be it.

One way I like to justify it is that my love of cars saves us a ton of money in repair bills, or in depreciation costs, since I can keep my 1995 Saab with 185k miles on it running beautifully at very little cost ( I like to work on cars as well as drive them).

Personally I don't want to feel deprived in retirement and I quite enjoy my job, so I don't mind working a bit longer to achieve that goal.

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Old 12-29-2011, 07:44 PM   #26
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Kind of depends on what you call expensive. Photography and astronomy can get pricey, but rarely as much as cars and boats. I find myself trading one for the other. I used to be into Jeep and even bought one to tear down and restore. It's for sale. I traded my commuter car for a running jeep. I'll use the money to get stuff for the running Jeep. I'm selling my pontoon boat to finance something else. Maybe a telephoto lens for my camera. I bought the camera with money I got from selling some of my camping stuff.

If you love something do it. If it impedes your ability to FIRE, maybe you need to take it down a notch to balance your life a little. If it's a passion, why give it up to retire to have the free time to engage in the passion you just gave up? Work until you can afford both retirement and your passion. Otherwise it will eat away at you.
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Old 12-29-2011, 07:57 PM   #27
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I expect (hope!) to spend more on hobbies in retirement than I do at the moment - that's one of the reasons I haven't retired already.

I am already cutting back on expensive wine but expect to spend more on other things - travel and photography in particular and possibly getting back into scuba diving and sailing which I used to do when younger but gave up in my mid twenties.
Budgeting is a skill practised by people who are bad at politics.
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Old 12-29-2011, 11:09 PM   #28
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I've loved flying since I was a kid and used to own a plane. It's extremely out of sync with LBYM in my FIRE situation, though. Still feel the longing on a daily basis.
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Old 12-30-2011, 03:13 AM   #29
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Speaking as a 62+ old gearhead, if it makes you grin and it's within your means, hang onto it as long as you can - life's too short not to enjoy the things you really love. Like your Camaro, my GTO isn't my daily driver - which makes it all the more fun when I can get behind the wheel (mostly on weekends).

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