That said, I don't have all my eggs in one basket. The knifemaking wave might not carry me all the way to shore, so I have to be ready to paddle until the next set rolls in. I am a part time musician, love leather work, can teach wilderness skills and plan to expand my current business even further. I don't want to "retire" because that gives the impression of being liberated from something undesirable. I want to make a living from simply LIVING, so I don't have to retire. We are looking to reduce our need for money at the same time as finding ways to earn it. I'm not going to play by the conventional rules, where wealth is measured by "having what you want"... I'll consider myself wealthy when I have no wants because my needs are fulfilled. That is what I choose to focus on.
The guideline for living life that I share with those that have open ears is that you can become accomplished in anything that drives your soul with passion. Being accomplished isn't synonymous with financial success but the success of achieving your goal (or living as Rick states). Living in this manner, tackling your passion, fulfilling your curiosity is part of a package that also gives you friendship. With this and family, if you are fortunate to still have family relationships, is almost all you need in life. The concept of accumulating money was one of the parents of the 50's.
There is still a need for financial stability for much like the dreaded health insurance but you can get by with much less when you have skill and the basic tools to tinker with. Developing multiple interests is beneficial in many ways:
Broadens your concept of life
Friendships in many fields
As one ages there are increasing chances of some form of disability and the variety gives one a menu of activities to pursue.
As you learn more (happens more easily with diverse interests) there is a natural protection from Alzheimer's...if one is genetically predisposed.
If you are accomplished in any field it becomes easier to do the same in others.
Full time? As others have said it's not an easy path but if the passion and desire is there, go for it with the recognition that there are an incredible number of talented makers now and more to come so make your work unique in some manner and market professionally. The knife market is still good and I have my own theory on that. I spent close to thirty years on violin making and that market is barely breathing. The tools, tone woods still have value and perhaps if the economy returns and there is a renewed appreciation and understanding of "handmade" then the market may return and I will carve again.
Like Rick I have many areas of skill sets but at the present I choose knife making and one other field to try to use as my main source of income. I have lofty goals but a good understanding of the hurdles and the distraction of enjoying life outside of the workshop.
I hope this helps with the OP's question. I enjoy conversation and knife makers have given me so much that I am open to discussing this topic more deeply by phone. This is more of a life decision question tethered to knife making constraints.
Dean Lapinel
ABS Apprentice Smith
