No. of Recommendations: 2
Kudos! for figuring it out. I was in a somewhat similar situation. Started over about 7 years ago at age 50. Had an even smaller IRA than you. Thought about renting but ended up deciding to check the housing market (on a whim) and found a very small house relatively close to work. The thing about going small (1200 sq. ft.) is that everything else is cheaper too. I don't think a "normal" family would find it big enough but it's big enough for me. My washer/dryer sits in the kitchen, the closets are tiny and bathrooms standing room only. It should be paid for by the time I'm getting social security which should then cover most of my expenses. That was the goal.

Peace,
Dana
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