Finding retirement hobbies - the flower exercise -…

Transcript

This is part six of our finding your next hobbies, your new retirement hobbies, using the flower exercise from the book What Color Is Your Parachute? And we're using this exercise from the What Color Is Your Parachute book because the exercise is designed to help you find your next job, the next job that you're going to love. But what I found is it's the closest thing to sort of a parametric approach to building a hobby like a recipe from the ingredients that is sort of who you are, how you think, how your mind works and all that. And there just haven't, I haven't found many resources out there that do that. Most of the resources out there are just like, here's a whole bunch of hobby ideas. Go try them. I think it would be a lot cooler, at least for me, if I start with who I am, how I think, how I work, you know, what do I enjoy as ingredients? And I use those to build hobbies. Speaker 2 00.01.205 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 And that way they're sort of bespoke to who I am instead of just trying to jam myself into some preexisting hobby. And if you've watched my previous videos, you know that I actually found a super cool hobby for me like that, that I love that would never be listed anywhere, which is finding non-functional appliances, repairing them and donating them to Habitat for Humanity. Trust me, I checked. 00.01.205 Speaker 2 00.01.205 Speaker 2 None of the lists that I looked at has that as a hobby. And you can only design a hobby like that by using who you are, the elements of your personality and how your mind works as ingredients in creating a recipe to design your own custom hobbies. 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 With all that being said, we're on pedal five of the flower, which in this exercise is called earnings or income, because it's talking about the next job you want to find. 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 Since we're sort of retooling this exercise for hobbies, we're going to call it budget. How much do you want to spend on your hobby? 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 And I'll tell you what I did wrong. And maybe you can use that to benefit so you don't make the same mistake. What I did was I just started my first big hobby when I retired, and I never set a budget. I never really thought much about how much I was going to spend. And the first big hobby was a throwback from my days of loving science when I was a kid. So I started this solar lab up at my shop. So I don't have any electricity up there at all. I just set up a solar array, tried all kinds of different inverters, tried different panels, tried different wiring configurations, and just experimented until I found a setup or different battery storage options until I found a setup that really worked for the shop. The reason that was a mistake was that I looked back and I had spent like 12 grand. And if I would have set a budget, I probably would have said four grand or five grand for the whole thing. 00.01.205 Speaker 2 00.01.205 Speaker 2 So that's just how it is. We've all done it. You know, you do a thing, and you don't set out with a budget. So you're not really keeping track. You're not really working against an objective goal. So you kind of run wild. So what I would do, the biggest thing I would do is if I were starting over, is I would create a hobbies budget. And then for each new hobby that I 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 identify, 00.01.205 Speaker 2 00.01.205 Speaker 2 I would assign a portion of that budget to the hobby. So I might say for science projects, 25% of my hobbies budget for, I don't know, what hobbies do I have? Oh, for my curb burgling, maybe that's the appliance stuff. Maybe 15% of my hobbies budget. And that's what I'm doing now moving forward is I've set myself up a budget for my hobbies. And 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 I'm starting to break out each hobby and determine what percentage of the budget I want to allocate to that hobby. So for this peddle, establish an overall annual hobbies budget and then determine how much of that budget goes to each of your new hobbies. 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.205 Speaker 2 00.01.216 Speaker 3 00.01.125 Speaker 2 00.01.271 Speaker 2 00.01.262 Speaker 4 00.01.565 Speaker 2 00.01.566 Speaker 2 00.01. everybody signed off the sweet. 00.01.276 Speaker 3