I’ve done a little research, and the conclusion is, a Hobby is something you do and enjoy but do not require compensation.
The only reason I had any interest is that I was asked if I had any hobbies other than writing. I surmised that the list could include physical activities, such as golf, biking, hiking, or any other physical activity.
I bicycled across the State of Iowa five times when I was in my late forties. From the Missouri River to the Mississippi River in six days. A couple were what bikers call Century’s, meaning over 100 miles per day.
Perhaps a Hobby could be an interest in playing Bridge or some other card game. They all may include some arrangement where you might receive some compensation. It’s called winning.
It could also be called gambling. Any sport or activity can include a side bet, who gets closer to the hole in golf, for example.
Two things are not on my list of what to do with your time, nothing physical at my age now, and nothing that might cost me some of my hard-earned funds.
Some years ago I had hobbies, I carved wood, I created whimsical little animals from clay, and I’ve been known to crochet, I made an afghan once.
The animals were displayed and sold in a gift shop where we lived, so they did not meet the present criteria. The carved wood made a great blaze in our fireplace on a cold night.
I’ve been a writer for over 50 years, during my career, and in my quiet times. I still volunteer, writing things others want to use for fundraisers, or just communicating with an audience.
When you settle on something that gives you pleasure, I would consider that a Hobby. When you love doing something that gives you great joy and people are willing to pay you, I would call that a career.
– Isobel from Hot Springs, Arkansas, a FAR customer who is finding purpose in this new stage of her life.
* The opinions expressed in this article are those of the authors. They do not necessarily reflect the opinions or views of the Finance of America Reverse (LLC).
This article is intended for general informational and educational purposes only, and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.