I semi-retired when my husband retired (for the second time) in 2016. Our vision of the retirement lifestyle started off a little rocky, but we’re getting there. Retirement is a work in progress. Yours likely will be too.
I am a “Sherlock Holmes of income streams”, and I am always thinking up ways to turn our interests into income. One of my favorite hobbies is figuring out how to combine various interests into a viable business idea. To do this for someone else is really icing on the cake:
“The consultation helped me to step outside the box and think creatively to find ways to incorporate my existing skills and passions into my business. It is exciting to see a pattern in my interests emerge over time with things I love and excel at doing, and to know there is a need for my skills. With that need, I can develop multiple streams of income or at least additional value-added services. Also, you reaffirmed that I can design my business to fit the flexible lifestyle that I want.” Merri Taylor, Here 2 Assist
Turning an interest into an income stream that fits with your retirement lifestyle often takes a little detective work! How can you turn your hobbies into income streams?
I’m FINALLY writing novels! In the past all my writing was business-related. Marketing copy. Emails. Newsletters. Website copy. Reports and guidebooks. All fun and interesting projects (and I still do a few of those – get in touch with me if you are looking for copywriting services), but it’s not the same as writing fiction.
I have wanted to write books since I was a child. I thought I needed to be older. Right or wrong, I’m older now.
I’m learning to draw because I keep getting these visuals in my head and I can’t explain them for someone else to draw. I want to re-learn tatting, as I have forgotten what my grandmother taught me as a child. I’m learning to sew all kinds of clothing because I hate shopping for clothes. And I’m learning to quilt.
My hobbies overlap, as I am writing a book while learning to quilt. I’m posting on my blog about this book as I research and write.
Quilting is a hobby I began seriously indulging in about four years ago. Equipment, supplies, lessons, retreats, and fabric are not cheap! Now I have a dedicated sewing space, excellent equipment, never enough fabric (just ask any “real” quilter!), millions of ideas, and quilt stores are a part of our camping explorations. Turning this hobby into a story I can publish means all my purchases count as “research”. Now that is a real bonus, especially if I write a book people want to buy.
What hobbies could you write a book about?
Our Siberian Forest Cat
Rosie is a big part of our lives, and she shows up in my writing often. She loves camping almost as much as we do. She tolerates a leash so she can be outside with us when we’re camping. We bought a bigger fifth wheel trailer so she has more space to play inside. True story, it was HER idea!
I trained Rosie to curl up in a basket on the desk (instead of on the keyboard) when I’m working on my computer. She has a special spot on a bookcase (instead of the cutting table) where she oversees my sewing and quilting progress.
In turn, Rosie has trained us to take her outside on demand, give treats on demand, play with her on demand, cuddle on demand, and stop working when it’s mealtime. My husband even built her a large catio where she is safe from coyotes and hawks when he discovered just how much time she would like to spend outside.
I’m thinking stories, videos and photos of her antics might be a viable income stream.
There is an age difference between my husband and me. It wasn’t an issue when we first got together, but we knew we would have to take that into consideration when he retired. We had a lot of conversations about this, and it was a deciding factor when I chose to start Taylor Made Time as a full time business in 2003. Even then I was focused on income streams that would fit our retirement lifestyle.
Technically, I am “too young” to retire now. I am not able to draw on CPP or any other retirement programs. If I stop contributing to CPP at this point, there won’t be much for me to draw on when I do get to that age. And to be honest, I’m really not ready to let my business go. I get so much satisfaction from helping my clients to create the lifestyles they truly love.
From my husband’s perspective, he has worked hard all his life to get to this point. He doesn’t want to wait until I am fully retired to make the most of his retirement lifestyle. We share a lot of interests, and we want to spend our time together – it’s what we’ve worked and waited for!
We are not alone in this situation. A lot of couples face the same issues. Creating income streams that fit into this kind of retirement lifestyle is a perfect option. Hmmm…I wonder what kind of guide I could write to help other couples navigate these issues?
In 2013 I was faced with multiple health issues, and I was unable to work for about nine months. My health issues caused problems with my memory and speech. Public speaking, which I had been building up as a significant part of my business, was no longer an option. I set my business to the side and went back to temporary admin work. I began taking writing courses, learning to write stronger marketing copy for B2B and B2C audiences. When I left the temporary admin work I began offering copywriting services. The important thing is that I never completely gave up even though I was pushed into new directions. Life is full of surprises – and each change in direction holds opportunities too.
This experience changed me. I have a new appreciation for the quality of my life. I am not willing to give up time with my husband in his retirement, because there are no guarantees. We may live a long time together or one of us may have to leave too early. Either way, I want our lifestyle to be satisfying.
I know how important it is to have a flexible lifestyle that can support me no matter what happens. Building in a few safety nets is part of challenge that every retiree faces.
You know, I bet I could come up with a guide to recovering from life-changing experiences!
If you are a new retiree or pre-retiree, I invite you to work with me. Together we will discover your unique income streams, and create actionable plans that resonate with your ideal retirement lifestyle.
My 2-step process is guaranteed to give you at least three options that resonate with you, and a step-by-step plan you can implement at the pace that suits your new lifestyle. You take away your customized Income Stream Evaluator that you can use to evaluate new opportunities as you become your own Sherlock Holmes of Income Streams!