Money Making Hobbies

[RobLJ]

Quote:

Originally Posted by aja8888 Nice work, neighbor! I have probably seen some of your work around here since I have lived in The Woodlands going on 25 years.

I'm over in Kingwood--not too far away. Also lived there 25 years.

[haha]

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Originally Posted by Bestwifeever I just don't see why it is important to people to be seen as retired if they are still interested in earning money or what exactly is the advantage in being perceived as such.

I think this one is easy, at least for PF and early retirement writers A personal trainer or fitness blogger gets clients and readers more easily if he or she is trim and well developed. But these people have to earn this respect. If you look at someone who is 80# overweight you are unlikely to hire him/her as your personal trainer, or to pay any attention to what they say about diet and fitness.

But early retirement bloggers can lie with impunity if they are so inclined. One very successful example doesn't let anyone know his real name, ostensibly to save his family from some sort of imagined harassment. It also has the handy result of your not being able to check any of his assertions about himself, at least without going to more trouble than most people would be likely to.

I also feel that anyone who brags about how cheaply he feeds his family should publish recent photos of the blogger and his little lady.

But I won't hold my breath. The only blogger I read is Phil Greenspun, and if I were planning some traveling I would try to find someone who could unlock the labyrinthine airline fare,. miles, etc system. There was some personal finance blogger who was referenced on ER.org that I read and liked. He grew up very near my home town. Unfortunately, I cannot remember his name. As I remember he had no ads. I think he did sell a book, kind of a coming of age story, in that part of our country at that time.

However, I am a known curmudgeon and also one who feels that danger lurks in listening to information or advice that you cannot handily vet, and that the giver of the advice stands to profit from, if only indirectly.

Ha

[youbet]

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Originally Posted by harley Yeah, that's why I wouldn't really do it. In order to be able to make something like carving work, you'd have to find a way to "mass" produce them. The same thing over and over wouldn't be fun. And then there's the selling part. I also talk to the people that sell at craft fairs and they don't seem to be having much fun. No matter what you do as a hobby, if you want to make money you have to drum up business. I can't see that as being part of "what you love" no matter what. I call that part work.

+1

My wife is a quilter. I know little about it, but based on conversations I overhear, she's apparently an expert. She loves to do it.

Our own home is already overrun with her work, so she makes quilts for others as gifts. Since she incorporates something personal into each one, family members and close friends seem very pleased to receive one. The presentations are frequently accompanied with joy, tears and lots of hugs. DW has learned if any money comes into the picture, the event means less to everyone involved.

One time, and one time only, she accepted a paid job completing a quilt for a friend of a friend where that person's deceased mother had started the quilt and the daughter wanted it finished for display and use. Long story short....... the experience was a disaster for DW. The "customer" knew little about quilting, was pushy and demanding and somehow thought the $500 she was paying was generous for DW's 100+ hours of work. DW's friend, who brought DW and the "customer" together, was embarrassed and she and DW haven't been close since.

I learned a lot from watching the whole thing. No mixing money and hobbies for us. If some hobby related skill either of us have can benefit someone we care about, we're glad to share. But, please, no money!

[youbet]

Quote:

Originally Posted by Htown Harry Managing one's own investments, accounting and taxes can be a money-making hobby.

Yes.

And other activities around the house for which no compensation is received can increase life's pleasures and/or reduce expenses. Being handy at maintaining the cars, repairing and modifying our camper, painting and decorating to DW's desires, etc., all trim our outflow of money. But it's not necessary to have a relationship with someone else who is paying you and has expectations regarding your performance.

[Amethyst]

This is a common complaint on hand-sewing online forums and appears to be the typical customer response for hand needlework Customers don't sew or embroider, and therefore have no clue how much developed skill and time it takes. Worse, they see quilts manufactured 4th-world countries, costing $100 online or in box stores, and imagine that paying 2X or 3X that price is a huge remuneration for the hand crafter.

The perceived value of handwork is so low, in fact, that even people who give handmade quilts to relatives, often report sorrowfully that the owners' dog is now the main user of the quilt on which they lavished 1,000+ hours of their life.

Probably the only quilters who make money at it, are recognized artists in affluent communities where people can afford to spend many thousands of dollars for a wall decoration. Even then, it is probably not much over minimum wage for the artist.

Amethyst

Quote:

Originally Posted by youbet +1 The "customer" knew little about quilting, was pushy and demanding and somehow thought the $500 she was paying was generous for DW's 100+ hours of work.

[Walt34]

Quote:

Originally Posted by Amethyst This is a common complaint on hand-sewing online forums and appears to be the typical customer response for hand needlework Customers don't sew or embroider, and therefore have no clue how much developed skill and time it takes.

I can imagine. When I started mounting and framing my own photos I found out why it is so expensive to have it done. Even with fully automated mat cutting equipment it is still very labor intensive and takes a lot of time. Nothing like that required to make a quilt of course but I have spent 6+ hours mounting and framing one photo, some of that waiting for glue to set.

Some of my relatives did quilting and it wasn't uncommon to see them working on the same one for months at a time.

[Sunset]

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Originally Posted by imoldernu Awesome_ thank you! ............................................ Not smart enough to turn my hobbies into money. Up until 2 years ago, I typically spent 30 hours a week helping others in my hobbies and as part of retired life. On call 'tech' guy for the 150 people in our community who used computers. Classes, house calls. The running joke was that I had been in the bedrooms of almost all the ladies in our retirement community (Computers usually in the bedrooms of our mfg home park.). Never even thought about any compensation, just happy to see more oldsters getting into computers - 1991-2011. When a new resident started charging for house calls, I dropped out. The other hobbies: Bicycles: My home was the local repair shop in FL and IL... fun for me. Golf carts: repair and detail. Appliances: repair... my favorite pastime. From toasters to washing machines. Planning, staging and emceeing parties: Along with other volunteers. Go To person for health and emotional problems: Not a hobby, but very satisfying. Ya know, I was so happy and grateful for being retired, that it never occurred to me to earn money doing what I liked.

Its nice to do what you want.
I helped out a neighbor who was going to throw out a computer because it stopped working. I fixed it in about 2 hrs or so, just as a good neighbor, and that is fine, He was amazed.

But when I do something where a person is going to make $$$ off it, or its part of a business (where they literally make millions per yr) I would think of myself as a chump if I didn't charge for my time.
I'm still happy to be retired even if I get paid sometimes

[Moemg]

Quote:

Originally Posted by Midpack So DW can't buy from you...

Not only can she buy but I would give her the early retirement discount !

[Steelart99]

Not RE yet ... but within a year or two!!! I've had a high-end knifemaking hobby/business for several years that has languished despite being contacted frequently by collectors interested in my work. On top of that, I make jewelry, turned bowls, sculptures and other items ... I'm ready to be RE so that I can concentrate on doing these hobbies just enough for them to remain interesting and fun!!! The knives have done fairly well considering that I've always just created them part-time.

[Redbugdave]

Beekeeping. It takes a couple years for the bees to build up enough to get honey to sell. They say you need ten hives to turn a profit. I am aiming at 15 to 20 hives this summer, and getting more bee boxes as we speak. We shall see. It has sure been fun so far.

[traineeinvestor]

Not sure if this counts as a hobby, but I still do some part time consulting in my old profession (law) - I basically get to pick and choose which jobs to take on and when/how much I want to work. About 250 hours last year with my old firm and I expect/plan to do about the same at a new firm I start with tomorrow. I'm not doing it for the money (if I needed the money I would have kept working full time) but because I still find it interesting. If it stops being interesting or gets in the way of my other retirement activities, I'll stop doing it.

Once I finish my part time degree (MFA) I may or may not do some very part time teaching and may submit some short stories to magazines. But, once again, only as long as I enjoy doing it.

Even in retirement, I find that I still need to keep myself busy. Maybe I need therapy.

[gcgang]

Poker and the occasional Vegas trip for Blackjack. Made about $300k since 2000.


Sent from my iPad using Early Retirement Forum

[aja8888]

Quote:

Originally Posted by gcgang Poker and the occasional Vegas trip for Blackjack. Made about $300k since 2000. Sent from my iPad using Early Retirement Forum

Be careful...IRS monitors this Forum...

[Car-Guy]

Quote:

Originally Posted by aja8888 Be careful...IRS monitors this Forum...

Really, then for the record, I lost that much

Too bad my deductions of losses are limited to the amount of my winnings

[Big_Hitter]

you could try playing powerball...

[38Chevy454]

Quote:

Originally Posted by gcgang Poker and the occasional Vegas trip for Blackjack. Made about $300k since 2000.

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Originally Posted by aja8888 Be careful...IRS monitors this Forum...

He did not say how much it cost him to make that $300K

[Sarah in SC]

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Originally Posted by Redbugdave Beekeeping. It takes a couple years for the bees to build up enough to get honey to sell. They say you need ten hives to turn a profit. I am aiming at 15 to 20 hives this summer, and getting more bee boxes as we speak. We shall see. It has sure been fun so far.

A friend told me last night that he is buying a hive for his wife as a birthday present. Very cool hobby.

[steelyman]

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Originally Posted by Sarah in SC A friend told me last night that he is buying a hive for his wife as a birthday present. Very cool hobby.

Presumably not for her to live in!

[Sarah in SC]

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Originally Posted by steelyman Presumably not for her to live in!

LOL! Nah, he got her the chicken coop a few years ago!

[Bestwifeever]

Quote:

Originally Posted by Redbugdave Beekeeping. It takes a couple years for the bees to build up enough to get honey to sell. They say you need ten hives to turn a profit. I am aiming at 15 to 20 hives this summer, and getting more bee boxes as we speak. We shall see. It has sure been fun so far.

How do you plan to sell the honey?