Did you know that the average American has approximately $141,542 saved for retirement?
That’s not a whole lot for someone who’ll live decades after retiring. But consider that most Americans have saved less than the average, with a median 401(k) tally of a mere $35,345.
If you’ve retired or see the light at the end of the career tunnel, you might have visions of traveling abroad, staying at posh hotels, and experiencing the sights and sounds of foreign lands. But if your budget doesn’t allow for globetrotting, what are your options post-retirement?
One option is investing more money to make your property more functional and enjoyable. Staycations are a thing. It doesn’t mean you can’t take a vacation every now and then. But you don’t have to be on a plane or cruise ship all the time to enjoy the good life.
Your home is probably your most significant investment. So, why not sink some funds into making home sweet home the best place to hang out with family and friends if you can’t be a globetrotter?
Consider these three investments to improve your outdoor living environment.
1. Build an Outdoor Kitchen
According to one source, demand for outdoor kitchens in the U.S. is expected to climb 6.2% to reach $735 million this year. Sales will increase as people become more enthralled with outdoor living, which will lead to more new installations and upgrades.
Do you enjoy spending time outdoors? One way you can enjoy doing so all the more is by incorporating elements of your indoor space. Getting an outdoor kitchen that’s as functional as your indoor kitchen is a great idea. Add a patio cover to your back deck to ensure outdoor fun, whatever the weather.
You can incorporate a cooktop stove, grill, storage space, sink with running water, and more when buying an outdoor kitchen. Go online and get some ideas on configuration possibilities. As far as costs go, a functional outdoor kitchen can run you in the low five-figure range. But you can spend a lot more or a lot less depending on what you’re looking for in an outdoor kitchen.
While you might prefer to go on a cruise to the Caribbean, enjoy an African safari adventure, or visit historical sites in Europe, you might have to scale back if you lack the funds post-retirement. But that doesn’t mean you can’t enjoy yourself with a staycation now and then.
2. Update Landscaping
The landscaping services market in the U.S. is worth a whopping $128.8 billion. So, it goes without saying that landscaping services are in high demand. According to Home Advisor, landscaping services costs can go from around $300 if you want to get a tree stump removed to over $16,000 if you’re going to get a patio enclosure. You can turn your drab outdoor space into something magnificent with a modest budget.
Whether you need help decluttering your front yard or back yard, planting flowers or shrubs, cutting grass or collecting leaves, removing trees or planting trees, a landscaping company can help. Landscaping can make relaxing, eating, or entertaining outdoors an experience unto itself. It’s worth weighing your options.
3. Incorporate Other Creature Comforts
Have you ever considered getting a fire pit for your property? It can make spending time outdoors with people you care about a pleasant experience virtually any time of year. What about a pond? It’s easier than you think. Excavate the area where you want to set up a pond, get a special liner to insert in the prepared space, place stones on the boundary of the liner, and fill the liner with water. It’s easier than you might think, and it can transform your outdoor space.
Also, consider things like paths made from paving stones and even a swing for those afternoons when you want to relax and feel the wind in your face. Use your imagination to develop more ideas to transform your outdoor space into the sort of place you enjoy spending time.
Whether you’ve already retired or you’ll be doing so sooner rather than later, you’ll want to be able to enjoy the fruits of your labor over the decades. Many retirees dream of traveling without having to worry about costs–but not everyone will build up enough of a nest egg. If you have to scale back your traveling, you can at least make home sweet home a great place to be.
