What surprised me the most about turning my life-long hobby into an income for retirement is how much I needed to spend on equipment and skills training.

For me, this journey is all about taking my hobby, something I’ve enjoyed doing for decades, and turning it into an income in my retirement years while I still enjoy the hobby on a personal level. Plan G For Me blog and its complementary YouTube channel is focused on talking about turning a hobby into a income and sharing what I’ve learned along the way.

I also have a YouTube channel devoted to showcasing this hobby with a complementary blog. Two channels, two blogs, two very different points of view and audiences.

I know a lot of people want to supplement their retirement with the skills they already have. I thought I was going to do that. I thought I had everything needed to take my hobby and turn it into an income, but when it came down to it, I did not have everything I needed.

Realizations and Challenges

What I was lacking, to be honest, was an appreciation for the equipment and knowledge required. First of all, I had to start thinking: what does my customer want? Why wouldn’t my customer be willing to pay for it? I realized I was my own customer. What was I willing to pay for? What was I willing to look at someone else to perform as a service provider or product creator; and how much would I pay for that? Sometimes, I wasn’t willing to pay.

Once I realized I was the customer, the potential customer, the person I was looking to serve, I understood that providing the service primarily requires making an investment. This was the most truthful realization that came to my mind once I decided to make the leap from hobby to income and retirement. I had to go to the next level.

Personal Journey

I am proud of this transition because my hobby is something I love. I’ve enjoyed it since I was 9 or 10 years old. I’ve continued through good and bad times. It’s taken me a while to develop my skills. In the last few years since I retired, I’ve really upped my game because I’ve had more time to devote to it.

Within months of becoming an empty nester, I left my job. Pursuing my hobby on a deeper level was always my retirement dream. I learned a lot because I had more time to focus on my personal interests.

Retirement and New Goals

Now, even though I retired early and am not yet on Medicare, I want to do something different with my retirement. I thought I would work during retirement, but that didn’t work for me. I also need something more than leisure activities to occupy my time.

I had to consider the very real possibility that Social Security and other sources of income might not be available throughout my retirement years because longevity runs in my family. What if I outlive my income?

What could be better than spending time doing something I very much enjoy and making sure that I have the ability to maintain an adequate source of income throughout my retirement years? It’s a win-win.

Surprises and Advice

One of the things that surprised me about turning my hobby into income was the level of skill I needed to reach. I couldn’t just take my hobby and turn it into an income without stepping up my equipment and knowledge.

I’ve known several people who earned income in retirement from their hobbies, and virtually every single one of them had to adjust, invest time, invest in equipment, and invest in skills. At first, I didn’t realize the equipment I had was not adequate. My hobby entertained me, and I was the ideal customer for the service I wanted to provide. But to offer something I would pay for, I needed more than what I had. So would potential customers.

If you lack the equipment or skills, you may need to outsource to someone who does. For me, turning a hobby into income required stepping up to a new level: skills, equipment, knowledge, and training. I didn’t realize this when I made the initial decision. Once I made the commitment and invested in equipment, I knew there was no going back. I made a conscious decision to reach the next level so I would have something to offer.

Many hobbyists turn their hobby into income to justify their equipment purchases or they invest so much in their hobby that turning it into income becomes a natural next step. What can you do when multiple people come to you for help?

There’s a misconception that you can simply start making money from your hobby as it is, but the truth is you often can’t. Anyone promoting that idea may be encouraging a path toward inadequate results or failure.

My advice: Be prepared to invest in equipment and skills, likely more than you expect. Learning how to use new equipment will be a challenge that requires both time and money. I didn’t realize this was the path I was on, but having taken these steps, I don’t regret it.