Retired, Inspired, & Thriving

Today, I’m sharing my thoughts and what I've learned about land leases. Buying a home on property owned by someone else can appear to be an affordable alternative to traditional homeownership—but I’m learning that the arrangement could come with some serious financial risks if I were to choose this option in my later retirement years. I’ve previously discussed the downsides of 55+ communities , many of which fall into the land-lease category. In fact, having a land lease is one of my top five criticisms of that type of senior living. But land leases are a broader option, not limited to 55+ communities. In This Post The Initial Appeal A Strange Little House Connection What If the Land Use Changes? Delaware’s Protections So, What’s the Advantage? Where I Stand Right Now The Initial Appeal Let me show you an example. Here’s a listing very similar to one that caught my eye when I was researching my relocation to Delaware: ...

In today’s entry, I’m laying out my worries and fears about the effects of inflation on my non-COLA pension, along with some plans I’ve already made and some possible options I have to ensure secure housing as I age. But first, a related—and true—story... One evening, after talking on the phone with my mother for about an hour, I had just started cooking dinner when I received an emergency alert telling me to take cover because a storm capable of producing a tornado was passing through my area. It can be quite unnerving to receive one of these messages while observing worsening conditions outside the window in real time, confirming your worst fears. Suddenly, the sky darkened, the wind picked up, torrential rain began to fall, and it got really noisy outside. My thoughts were: This might be my last meal. In fact, I might not even get to finish cooking if the power suddenly goes out. This house has no basement. Where can I take cover? I have no idea what would happen if a tornado we...

In this post, I discuss the points I make in my YouTube video, My 36K Pension Doesn't Mean I'm Set for Life This post addresses a vicious comment I received. The commenter attempted to discredit my early retirement story because I have a pension, characterizing it as a safety net I can simply fall back on. The general message I took from the comment was that I don’t struggle like other retirees because I have a pension, so people shouldn’t listen to what I have to say or heed my advice—or they’ll become financially ruined. My purpose in responding to the now-deleted comment is to encourage people who are considering early retirement and might become disheartened by this type of negativity. First of all, let me say that I do value my pension. It’s a significant blessing, especially since my retirement package also includes low-cost healthcare. Without the pension, my early retirement would not be possible. It’s by far my largest source of income. ...