Tuesday, April 29, 2008

Yarn Retirement Account (401Y)

I've been trying to get my stash (as well as my knitting paraphernalia) organized and cataloged so I can see (or at least know) what I have. This flurry of organization came about when I returned from the bookstore clutching a new knitting book (Knitting circles around Socks by Antje Gillingham) only to find that I already had it. I've had this same realization with knitting needles but usually it's because I've got a project on one pair of the needles in the size I need for a new project and rather than move that project onto stitch holders or scrap yarn (or finish that project first - a novel idea) I just buy new needles in the duplicate size. This seems to work well but eventually I finish both projects and am left with two needles of the same size. So with the help of Ravelry I decided to start getting things listed. No easy (or quick) task, I assure you. The first step in this process was getting all the knitting items into the same room.

You'd be surprised how many places I had yarn, books and needles stashed around the house. As I was moving everything up to the spare room (I hope we don't have any house guests for awhile) I started pondering what made me think that a house with multiple stairs was a good idea. Once I got everything (or what I think is everything) up there, I started with the magazines. My fears were confirmed when I found that I had three duplicate magazines in the stack.

OK, three isn't a lot but still, it's a sign of a problem that needed to be nipped in the bud so I felt pretty good about lugging all that crap, I mean fabulous knitting items, upstairs. Then I did find another duplicate book. How does this happen? This cataloging of books and magazines took longer than I thought so I didn't really get into the actual yarn stash yet but I did have a realization. It's not that I'm accumulating yarn, I'm actually making deposits into my yarn retirement account, my YRA 401Y if you will. Think about it -- if I buy yarn now until I retire then I'll have a fabulous "nest egg" and I won't have to spend my actual retirement account money on yarn. (Some of you might say I will probably still make yarn purchases after I retire - you can point out your plot holes elsewhere). I think this is a fine rationale and I'm sticking to it as I continue to make deposits into my YRA. I suggest you do the same.

Then I did find another duplicate book. How does this happen? This cataloging of books and magazines took longer than I thought so I didn't really get into the actual yarn stash yet but I did have a realization. It's not that I'm accumulating yarn, I'm actually making deposits into my yarn retirement account, my YRA 401Y if you will. Think about it -- if I buy yarn now until I retire then I'll have a fabulous "nest egg" and I won't have to spend my actual retirement account money on yarn. (Some of you might say I will probably still make yarn purchases after I retire - you can point out your plot holes elsewhere). I think this is a fine rationale and I'm sticking to it as I continue to make deposits into my YRA. I suggest you do the same.

4 comments:

Sam said...

Very good thinking. I'm happy to say that I have a very healthy YRA.

IrishgirlieKnits said...

I so agree with your thinking! So sock camp was kind of like a mini-investment meeting...to discuss our stock, I mean stash! And accummulate more :)

Keep up the organization!

Nancy @ the Jersey Shore said...

I love your rationalization! Since my yarn stash will more than likely grow, and outlive me, it must be earning "interest" now. Yes, 401y. That's what we're doing!

jmcmjoan said...

I personally think your YRA is a fab idea, and I plan to implement this savings account immediately. As a matter of fact, I may have to catch up, as I have a very small stash. Thank you for thinking of my retirement. It's such a good feeling to know I will be prepared for the future. hugs, Joan