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At 60 you are still quite young. If you can afford it do it. Just remember in a few years your body will slow down. Now in my mid 70s I can not do some of the things I could do at 60.
Very interesting comments and attitudes on this thread. Personally, I absolutely refuse to live my life on the basis of anticipated future limitations. I will not go gently into that good night but will do everything I can as long as I can and if I can find some bit of technology or hired help or robot that will enable me to do more longer, then that's what I'll do. But that's just me and I know that not everyone wants to go that way and it is absolutely their right.
For me, it's buy the land, build the house, get the boat, jump on the motorcycle, shoot the lion, jump out of the airplane and if it all ends with me upside down in a plane, trying to fly under a bridge then that's just great because I will not go into genteel soporific decline.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,883 posts, read 58,541,065 times
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Quote:
Originally Posted by mlb
We're both over 60 - not yet retired - but planning on buying and building on land where we will have space between us and the neighbors.
We have no heirs to pass this onto - but we don't care. We will live how we want to live.....
Heirs often don't want, and definately don't want to "clean up' a rural estate. We care for rural seniors & often see the response of heirs.
1 ) auction,,,, one day and it is over. 50 - 70% take home for heirs
2) fight over who gets it, usually ends up selling to an investor cuz heirs expect too big of a price (each)
3) heirs clean it up. Takes months. I have 'rescued' many treasures (bought out of dumpster for scrap price). 1950's 18" x72" B&S lathe (5000#) 1930's tool bore & milling machine, HD 6 trackloader, many special tools and fixtures the kids knew nor cared nothing about, 3ph motors, and my favorite..... A rock collection all painted like different bugs in the garden. our memories of these older couples is precious, they were best pals to each other and to us. We often attend them in death, as their kids can't deal with it, or are too busy.
So.... We saved our heirs the trouble. While under age 40 we set up a family foundation and donor advised fund. The kids (and other heirs) get to 1). Continue gifting to their choice of charity. 2) let the foundation 'self expire' and gift according to our designations.
The properties, tools, tractors, dozers, wrenches all go to a group of international trade schools where we have volunteered for decades. They can collect the equipment or have an auction and collect the dough.
The kids helped us build our places, and they know the work involved. They are very pleased to not have to deal with selling or cleaning up the places. Too bad, as we have lots of heirlooms and equipment from prairie homesteader family, and we made most our furniture to match. ( heirlooms go to museums)
We bought 5 acres just last year when my husband turned 60. I'm now 60, and we just purchased almost 6 acres in the N. Ga. mountains. Of course, it depends on what you want, but he and I like having property to grow things and to have a little privacy. And we like having the diversity so that all of our money is not in cash.
My dad had 80 acres and sold it when he was in his late 70s and had cancer and moved to a double lot in a small town. He was miserable. He had cattle and fields and things to take care of, though. I think if you had 40 acres and most of it was wooded and you just had to mow a small part of it, and didn't have crops to harvest, fields to mow, hay to put up, animals to feed, fences to mend, barns to clean, you would be fine.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,883 posts, read 58,541,065 times
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Quote:
Originally Posted by luzianne
My dad had 80 acres and sold it when he was in his late 70s and had cancer and moved to a double lot in a small town. He was miserable. He had cattle and fields and things to take care of, though. I ....
There is something quite therapeutic about being able to 'putter' around and be engaged in some level of responsibilities, as well as being free from the demands of a busy city.
My 93 y o 'farmer' FIL is in the third senior apartment in 2 yrs (still unhappy) after giving up his small acreage. He was losing sight and dangerous to drive to town.
Bingo does not thrill him as much as chasing the racoons from his garden.
I hope to improve on that for him, as soon as the evil step mom croaks. She won't have anything to do with his kids, she wants it ALL. (High maint spouse. )
We own 40 acres and love it. We have a couple of tractors, hay wagons, plows, disks etc. We plant corn, soybeans for the wildlife. Planting 50 lbs of garlic this fall. We have people asking to buy it next summer. We add apple trees and raspberries. When we retire we will either start a small CSA or sell to local restaurants since field to fork is the rage and my DH sells produce for a living. We laugh that we are 2 city kids from Chicago living the dream on our little farm.
I have a 99 year old uncle that still putters around his land. He grows vegetables, makes applesauce and sauerkraut. Did some woodworking up until 5 years ago when he cut his thumb and drove himself to the clinic to have it stitched. Bakes his own bread and still drives the backgrounds to deliver his bread. Never spent the night in a hospital. He is amazing and his only nod to old age is his hearing is shot.
I want the land to get away to but don't expect to move onto the property so won't do any gardening or farming.
I have all my camping gear; some that I've owned since I was 20. I also own a small fiberglass camper and a 4-wheeler.
I might want a 'garage' camping site that I could secure when I'm not there but don't plan to build much else.
I really enjoy reading all the great ideas and suggestions. You all are such a rich source of information.
Technically, I don't know if I'm in the correct forum but this is where I can get the most opinions from those of retirement age.
Here it is:
I'm 60 and I've always wanted land. For over 30 yrs, I've looked but refrained from buying because I had a family and was concerned about diverting money that we might need.
Well I've raised them and they are grown and on their own and my wife left me several yrs ago and still I want that small wooded piece of paradise.
I still work fulltime, own my home and car and live without other debt.
I love to fish, hunt, camp, kayak, ride my bike and just about anything outdoors (I know what your thinking...he needs a woman in his life)
Well, I'm financially able to buy that land without affecting my retirement. In fact I've found about 40 acres with nice woods, wildlife and a internal road system and small streams that is about half way between where I and my brother live.
So, in your collective wisdom would it be foolish to purchase land at this age?
Why would it be too late to make an investment and fullfill your lifelong dream, especially since you have children?! DO IT and enjoy your land!
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our memories of these older couples is precious, they were best pals to each other and to us. We often attend them in death, as their kids can't deal with it, or are too busy.
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