Capital Advisory Group - January 2021

Your Next Hobby A POST-RETIREMENT CAREER?

While many people pursue hobbies as a way to stay active and entertained, many hobbies can actually be turned into mini-careers or as a way to put some extra cash in your pocket. In this regard, many hobbies are self-sustaining because they can pay for themselves, while rounding out your bank account. It’s a win-win. Many hobbies are easily transformed into a source of income, while still being a lot of fun. One common example is gardening. While gardening might not turn into a full-blown, post-retirement career (though it could, if you wanted to put a higher level of time and effort into it), it can still put a little extra cash in your pocket. Here’s how: In retirement, people often expand their gardens. They may turn their backyard into a complete garden space or they may invest in a greenhouse or two. Some retirees even go as far as purchasing an additional parcel of land to garden on. And when you have such a large garden, what do you do with all those fruits and vegetables? You can sell them! Sell them at farmers markets or privately. Gardening is just one of many examples of hobbies turned into post- retirement careers. Other examples include photography, writing, baking, carpentry/woodworking, arts and crafts, pet care, antiquing, car restoration, and the list goes on. So, if you’re thinking about starting up a new hobby (or an old one), go for it! Even if you don’t turn it into a post-retirement career, it’s a great way to stay busy.

January is National Hobby Month, which makes perfect sense! As people set goals or make resolutions for the New Year, some of those goals often include trying out new hobbies or sparking up old ones. Hobbies are healthy — especially in retirement. They give you something to do. They occupy your time and they’re usually a lot of fun (or they

should be!). Going into retirement, you may have had a hobby years ago that you want to get back into. Or you may be ready to try something new. Plenty of studies show that hobbies extend your years. On top of that, picking up new hobbies helps keep your brain active and healthy as you strive to learn new things. When we talk to people who are nearing retirement, or already in retirement, we bring up the subject of hobbies. A common question we ask is, “Can you turn your hobby into a career in retirement?” Or, “Can you, or would you want to, make money from your hobby?”

TAKE A BREAK

Slow Cooker Chicken Casserole

Ingredients • 8 chicken thighs or

Directions

1. In a large frying pan, heat oil and fry salted chicken on high until brown. 2. Transfer chicken to the slow cooker. Add flour and stir. 3. In the frying pan on high heat, fry the onion, celery, carrots, leeks, and potatoes until lightly browned. Add garlic and fry for 30 seconds. 4. Transfer vegetables to the slow cooker and add the stock, rosemary, and lemon zest. 5. Cook on high for 2.5–3 hours or until chicken is tender. 6. Check seasoning and add lemon juice to taste. Top with parsley before serving.

drumsticks, lightly salted

• 1 tbsp olive oil • 1 tbsp all-purpose flour • 1 onion, finely sliced • 2 celery sticks, thickly sliced • 2 carrots, thickly sliced • 1 leek, thickly sliced • 1 lb potatoes, peeled and cut in large chunks • 2 garlic cloves, sliced • 14 oz chicken stock • 1 sprig rosemary • Finely grated zest and juice of 1/2 lemon • 1/4 cup fresh parsley, finely chopped

Inspired by GoodHousekeeping.com

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