You're way ahead of me, but is simplifying an option? Lessen your load in order to enjoy things outside of your businesses/jobs? Maybe set aside time for a certain hobby? Downsize the living situation?
Thanks for the response DJ. I don't necessarily have to simplify- I mean I could leave as is right now, but I have the issue of not being *happy* simplifying. I'm not sure if its because I worked so hard I lost touch with my life passions and forgot how to have fun, or if I truly am just so enamored with one expensive taste (I'll wear a goodwill suit and live in a shack for all I care, but my passion is cars and cars are the one thing I derive so much from, including friendships, weekend activities, etc. I actually race and show).
Just racing one exotic car will run about $40,000/yr if I don't want to be competitive, or about $1.2m/yr if I do want to be competitive. I'm OK with not being competitive. A second exotic car for show will run about 10k a year
Owning one exotic car runs about 10/yr, but it needs to be replaced at a couple hundred K every few years. A show car can last longer. Racing a corvette or something non exotic runs only about 10k, so that is probably the right simplification.
So if I need about 75k/yr just to enjoy that hobby, then that means I need about another 2M in savings just to generate enough return to do so.
2M isn't unreasonable, so maybe that is a realistic goal, but well you know what that means. 2M is one of those "realistic" goals but takes 10+ years, maybe 20+? Which is fine, but once again isn't that what we are trying to avoid.
This is what caught me:
Maybe set aside time for a certain hobby?
That is probably what I need to focus on. Finding a hobby that makes me happy without needing to spend money on it. So I'll be working hard on precisely that for a while. I tried the outdoorsman thing... buying an RV and riding a bike, thinking that would do it for me, but i'd lay awake at night wishing I was driving... haha.
I'm just trying to be honest here. I can't be the only person that struggles with that emotional hurdle? Maybe I just need a shrink?
Can you turn your hobby into a business?
Mozar,
This is something I'd LOVE to do. One of my businesses is actually my WIFE's favorite hobby, so she's 100% happy. I've tried to turn my hobbies into businesses, and I keep failing. This doesn't mean I should give up, I know, its just discouraging.
Its a simple response you offered me, but its amazing how reinvigorating it is. I somehow got it in my head that the easiest way to get what I want is NOT to try to make my hobby my business.... but you are totally right (reading between the lines here). If I love the journey, then business success is simply secondary. I need to go back to the drawing board, and i will do so this weekend for sure.
Just because I've failed a few times trying to turn my hobby into a business doesn't mean it can't be done.
