Getting close to retirement, and trying to decide what’s next? Find out why you should consider a homestead retirement.
The average retirement age in the U.S. is roughly 63 on average. Whether your retirement is years off yet or just around the corner, homesteading can be an empowering and fulfilling way to spend it. Homestead retirement in later life will help you save money, stay active and healthy, and live a more self-sufficient and purposeful lifestyle.
Homesteading can be an effective way of reducing your expenses and sticking to budget in retirement. How much money it takes to run a homestead, however, depends on your particular homestead, its size, and how many animals you have.
Homesteading also gives you the opportunity to supplement your retirement income by starting a business. One-third of all small-business owners are ages 50-59 and 17% are 60-69.
Owning a business in retirement is a rewarding endeavor and provides extra cash. For example, you could sell baked goods, fresh produce, homemade soaps, honey, or hatching eggs at local farmers markets.
Homesteading provides the sense of purpose needed for a satisfying retirement. In a study by Nationwide Retirement Institute, 97% of retirees with a strong sense of purpose reported being generally happy, compared to 76% without that sense.
With a homestead retirement, you’ll have a reason to get up each morning and there’s never a shortage of things to learn and do. The many skills you can learn may include, learning how to grow a vegetable garden in your climate, drive a tractor, basic mechanic skills, build a fire, cut, bale, and stack hay, chop firewood, purify water, and keep bees and harvest honey.
Mastering new skills is empowering — especially if they’re ones that would have once seemed completely alien to you in earlier life.
Stay fit and healthy
Staying fit and healthy is an important aspect of a happy retirement. It’s recommended that seniors get thirty minutes of moderate intensity aerobic exercise five days per week— and homesteading can help you do just that.
You’ll have set chores to do everyday which require bodily exertion and are sure to burn calories and build muscle. Whether it’s tending to the garden, chopping firewood, or hauling bales of hay, your homestead will always ensure you stay active throughout retirement.
Homesteading in retirement is a big decision, but the benefits pay off big time. Whether you’re saving up to make a purchase or already own your own land, homesteading is an economical, rewarding, and healthier way to live out your golden years.