Posted by Dave on September 16, 2014
I spend most winters doing almost nothing. Last winter was incredibly long and brutal, and rather than making any social plans, we generally just looked outside and returned to our couch to watch Netflix. The upside of this kind of empty social calendar is that I was able to accumulate quite a bit of spare cash that was a huge help when we made our final payment on our mortgage. In addition, I made it through a pretty good chunk of books I wanted to read (at a pace of about 2 per week) with all the free time I had.
After an extended break, my wife and I made up for our lack of visiting and social interaction over the summer. I golfed around 25 rounds over the summer, we went to cottages, and re-did our backyard patio. All of this stuff was budgeted (as best as it could be with some unplanned stuff that came up). We still have some savings left right now, but I’m almost ready for a break from “society” again.
One of the benefits of having only one main hobby that I’m really into is that it’s easy to budget for. I know the start and stop date, as well as how much money I have available to take part in it for the summer. Now though, as my golf savings have waned, I’m ready to start building up for next year again (it also didn’t help that I just lost in my “final” tournament of the year).
I’m not sure how long my interest in golf will remain. I’ve been playing for almost 25 years now, and can’t see my interest in being constantly annoyed and confused while playing decreasing too much in the next decade or so. I realize that the ~$1000 I spend on this hobby could be used to invest into my retirement. Additionally, I realize that $1,000 at a 4% withdrawal rate in retirement will cost me about $25,000 in additional savings at retirement to fund the hobby, all so that I can bang a ball around some chemically assisted manicured lawn.
So, after a really busy summer, my wife and I are both looking forward to recharging our batteries over the cooler weather months. I’m hoping to be able to get some minor home renovations done, which will finally make our basement a usable portion of our house. Financially, I can re-fill my “fun money” savings account to play again next year, which will hopefully be before the middle of June, like this year.
It’s these times of years that I realize that by choosing an Early Retirement Stream, I can’t do everything – I can do most activities I want to do, but there are definitely limits if I want to make my Financial goal a reality.