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Investing in Hobbies and Collectibles

by | Aug 10, 2016

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Have you ever wondered if your hobbies could produce a return for you? Do you own or collect any items that could be of value? Hobbies and collectibles have the potential to offer a different kind of investment than your IRA and 401(k) accounts.

When you consider your hobbies, the things you do for fun and enjoyment, you may be surprised to see that many individuals would actually pay for you to share that hobby with them. Here are some hobbies that might be able to help you turn a profit and save a little bit extra:

  • Writing: If you enjoy writing, you can apply for freelance writing jobs on websites like People Per Hour. You can even provide copy-editing services, or help people write speeches, a great way to use your hobby to assist others and make some pocket money.
  • Photography: Are you the relative that’s always snapping those photos at family events? Consider offering your services to people in your area. Families often look for photographers for major events like weddings, as well as just for family photo shoots. If taking photos of people aren’t your style, try setting up a shop on Etsy to sell the photos you take of nature or your favorite photo subjects.
  • Graphic Design: Much like writing, graphic designers that work on a freelance basis can make some extra side money and invest that in their futures. Check out 99designs.com where you can open a graphic designer account and bid for jobs.
  • Fitness: If you love spending time at the gym or running on the open road, consider becoming a personal trainer and helping others get into shape. While you may need to become certified or learn CPR, personal training or teaching class fitness are great ways to use your hobby to increase your savings.
  • Music: Whether you sing, play an instrument, or can transpose music, this hobby can be quite lucrative. Private and group music lessons are sought after all year round, and, depending on where you live, you can also offer your services as a house band musician or session musician for local establishments.
  • Crafts: Once again, Etsy is the place to go if you find yourself crafting on a regular basis. From homemade baby gates, to hand-knitted scarves, to artwork, there’s no limit on what you can sell in an Etsy shop. You set the ground rules, the prices, and the timelines. What could be better than having your hard work be given to someone else as a gift?
  • Sports: Are you a sportsaholic? Do you have a sport you have played for many years and could instruct others in? If so, consider becoming an umpire, referee, instructor, or coach in your community. Many park districts also offer sports camps that you can lead during different seasons of the year teaching varying levels of that sport’s skills to children.

When it comes to collectibles, the rules are a little bit different. Not many of us could forget when the Beanie Baby craze of the 90s hit, and we all went store to store looking for the little beanbag animals to give our children and grandchildren. Now, though the promise of great fortune was made to anyone who “invested” in the beanies, you’re lucky to get $5 per piece for these so-called collectibles! Over the years, this has happened time and again, so you should always proceed with caution when it comes to collectibles.

Collecting items comes with a lot of risks, including counterfeiting and maintenance. The value of collectibles goes down significantly with each indication of wear and tear, and not everyone is interested in every collectible. Collectibles are illiquid, and should only be bought if you’re amenable to the fact that they may remain in your possession for your lifetime.

We love discussing our clients’ hobbies with them and seeing what collectibles they enjoy having in their possession. While we may not be fans of Beanie Babies, a few of us have soft spots for classic cars, antiques, and even stamps! If you’d like to hear more about how we get to know our clients on a personal level, just contact us. We’d love to get to know you!

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