Have you been watching the stock market this week? Exciting isn’t it!!! As we continue to ponder retirement, we know that some portion of the Judy non- yarn funds must be invested to offset inflation, to keep from depleting the principle until we are in our 90s (conservative projection) and, oh yes, have money for the next craft Judy decides to undertake. You significant others out there know what I am talking about. Despite having enough fabric and yarn to last a village a lifetime, one day out of the blue, those dreaded words will once again be spoken. “Dear, I’ve decided it would be fun to (fill in the hobby of choice)”. So, here we go again. How many more square feet will we have to add to the house this time? How many more electric plugs? Do they make a super, super size mailbox that can hold a 5 ft cube and 500 pounds? Will UPS dedicate a truck to our route? I think you all know what I am talking about.
I am not ready to reveal the new hobby, I will let her do that. What I want to point out is how something which appears to be fairly harmless, can have a very significant impact on retirement planning. When I try to explain all the tangential (engineering word) things that need to be taken into consideration and their associated costs, what I get in reply is, “well that’s why I have you — to figure out all those kinds of things” That might be a bit easier while I still have an income, but not when the fixed income starts. So it appears I have to break the bad news to Judy and they are: one new hobby starts and an old hobby goes away; a new hobby must pay for itself; or the person undertaking the new hobby finds a way to pay for it and places no pressure on the innocent bystanding spouse. What do you all suggest? As daddy always said, “Balance is they key to a happy life, something comes; in something goes out!”