Selling the initial investment.....

[Cadillac]

First thing is we both work and make decent money. I have mine she has hers and we have a joint account. I was deep into my hobbying way before I got married. Ive always fixed all my own stuff,made most of my stuff if capable. Tools make you capable to do a professional job. I make her anything she asks for. I fix everything her and my son break except for them dam little plastic toys. Garbage! Would have to reengineer the whole thing.
The more tools and tooling I buy the less stuff we buy because I usually make it. Gotta impress her with your new stuff!

 

[RJSakowski]

No, it's not.

But, as others have pointed out, there IS (or at least can be...) some payback. My lathe cost less than a decent set of golf clubs. The only thing I can make with golf clubs is divots.

I 'm only partly joking when I tell folks, it keeps me out of the bars and off the streets...

No doubt if one plans to make a business of it, purchasing tools and machinery can be very profitable. I know of number of instances where large machinery expenditures have had an ROI of less than a a year. When I had my business, I could and did justify the expenditures based on ROI.

The issue is there are many hobby machinists who never intend or never will sell the product of their machines. I am retired and have no interest in rejoining the work force. I will take on jobs for friends and neighbors but not for pay. My typical comment was " if I charged you what it was worth, you couldn't afford it; pay it forward to someone else".

Over the years, I have made many custom items which, along with repair jobs, would have made a significant dent in my investment cost. If had to justify the costs based on payback, I couldn't. I am fortunate in that I am not budget constrained nor does my wife question my purchases but a question I ask myself for each and every one is what is the cost benefit ratio. Were it not for the enjoyment factor, I would probably forget the shop and watch TV from my recliner.

I realize that every situation is different and for someone on a tight household budget and who has the drive to derive some income from the use of their machines, I say go for it. It can be an excellent way to supplement a fixed income. There have been countless examples of thriving businesses that have started out in a garage or basement.

 

[Firestopper]

Our shops provide us with hours of learning and the ability to repair virtually anything worth fixing. Over the years I have proven this to my wife of 30 years. Keep it practical use them often (machines),and take care of your investment. In the end, our shops give us purpose, balanced with other wonderful things life has to offer.

Paco

 

[jdedmon91]

My shop was from day one a retirement project. That’s why I purchased the machines and big ticket tooling along. So now I hit buy stuff for enhancements and projects. Also to make some YouTube videos. Since my channel isn’t as large as the big guys it’s just another hobby.

I never been a woodworker so machining things is a hobby to me. One day after I get some of the backlog projects whittled down. I may try my hand at a model steam engine.




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[Charles Spencer]

I 'm only partly joking when I tell folks, it keeps me out of the bars and off the streets...

Ha! I always say it keeps me off the street corners.

Before I retired I bought various woodworking machines and tools for work on the house. They easily paid for themselves and my wife knew it. Right after I retired I saw a Craigslist ad for a nicely restored South Bend 9C at a reasonable price. I bought it. Then I started seeing machines in various states of repair on Craigslist for short money. I bought and restored some and sold them. Some I parted out. Some I kept for me. The profits from selling machines and parts bought most of my tooling. On occasion I would take some of those profits and take the wife out to dinner or we'd go some place for the weekend. I always made sure to let her know where the money came from. One restored lathe paid our state taxes last year. So she may say "That looks like a filthy piece of junk", but she doesn't mind because I keep busy and happy and she got a little something out of it too. Unfortunately, now I have most of the machines I've wanted and I've run out of space to work on or store any more machines.

 

[Janderso]

For me, the "initial investment", was easy. She asked what a lathe was. I told her it makes metal stuff round. She said, go ahead you never spend any money on yourself. The Bridgeport, saws, and stuff was another story.
The way I look at it, if i look back at the hundreds of thousands of dollars we spent on cars and trucks over the past 3 decades, a $15,000 shop investment is not a big deal.
A funny thing has happened. I use to read every waking moment I could. I haven't picked up a book other than machinists related reading since I bought the lathe, mill, TIG, press, drill press, ........ I also feel more rested and have more energy.
I really believe rekindling my interest in machinery/tooling has helped my unknown to me depression.
I am happy.
We are going to Mexico for two weeks beginning next week. All i regret is the time away from the shop. I'll get over it, when I get back I will have my Jet vertical saw and a "Certiflat" welding table to put together.
Great thread and I enjoy reading about the relationships between our wives/husbands.

 

[MrWhoopee]

I have mine she has hers and we have a joint account.

This is the key. No arguing, pleading or guilt. However, I DO NOT recommend trying to convert an existing arrangement, it will end badly. When starting out fresh, keep 'em separated.

 

[MrWhoopee]

A funny thing has happened. I use to read every waking moment I could. I haven't picked up a book other than machinists related reading since I bought the lathe, mill, TIG, press, drill press, ........ I also feel more rested and have more energy.
I really believe rekindling my interest in machinery/tooling has helped my unknown to me depression.
I am happy.
We are going to Mexico for two weeks beginning next week. All i regret is the time away from the shop. I'll get over it, when I get back I will have my Jet vertical saw and a "Certiflat" welding table to put together.

Sounds a lot like me. Be careful though, you may find your elevated mood is attached to the acquisition of tooling more than its use. NEW TOYS!

 

[Mitch Alsup]

While my wife is generally supportive of my endeavors::

I have maintained my own slush fund since we got together (30-odd years ago).
Within that fund, I get to do what I want and don't need even the hint of permission.
With luck, this fund is going to last another 18 years (or so) by the time I will be 85-ish and probably not so needy of machine tools.

 

[Janderso]

Mr. Whoopee, I have considered what you said about the New Toy High. I also really enjoy heading out to the shop with a project. That project could be making a bracket for the VFD or rewiring the old saw. I just love working with my hands and equipment, creating, repairing or fabricating. I find it very fulfilling. I get the same feeling today I felt when I was back in shop class in the early 70's. One exception though, I am not pre-occupied by the girls.
A Shop Fund, I have been putting money away for 30 years for retirement. I have a Roth a 401K and some investments. My wife inherited some money, we have rental property and I have some inheritance.
I am truly blessed to be able to put $20,000 aside for my shop fund. If I really enjoy it, I may sell one of the more pricey machines and go with a more modern mill for example with servos and a DRO package. We will see how it goes.