Moving to an Erickson Living community

It’s good financial sense

Created date

July 26th, 2019
Francine Ashby smiles from the clubhouse at Charlestown, an Erickson Living community near Baltimore, Md.

The predictable expenses, vibrant lifestyle, and robust amenities at Charlestown, an Erickson Living community near Baltimore, Md., combine for easy retirement living for Francine Ashby.

Over the last two years, the economic landscape has changed for the better. More Americans are employed now than ever before and consumer confidence is climbing.

But while the economy may be booming, the cost of living continues to steadily rise, which is a serious concern among the nation’s retired population. Living on a fixed income is a challenge in itself; when you factor in the expenses of owning a home, it’s even harder.

For this reason alone, many retirees have made the move to an Erickson Living community. 

A leader in the senior living industry, Erickson Living’s network of campuses includes 20 communities in 11 states. Each of them offers unparalleled outlets for active, independent, and worry-free living—an important component of which is financial peace of mind.

A 2018 Gallup poll found that 78% of retirees say they have enough money to live comfortably. Still, a volatile stock market, cost-prohibitive health care, and the effects of inflation present inevitable challenges to those living on a fixed budget. 

That’s why, in this age of rising costs and dwindling pensions, moving to an Erickson Living community is such a wise financial decision.

Take the Ann’s Choice campus in Bucks County, Pa., for example. The growing costs of home ownership—not to mention all the steps in their four-story townhouse in Philadelphia—pushed Bernie and Betty Roseman to start researching one-level senior living communities. They compared the financials, floor plans, and facilities at several communities and knew immediately that Ann’s Choice was right for them. “Betty and I liked the size, the activities, the friendliness, but above all, the value at Ann’s Choice,” says Bernie. “There was nothing else like it.”

Clear and sensible financial structure

People who live at Ann’s Choice enjoy a simple, two-pronged financial structure that incorporates an entrance deposit that’s 90% refundable to residents and their heirs, as well as a monthly service package covering utilities, dining plans, 24-hour security and emergency response, shuttle service, trash collection, and maintenance and repairs (Erickson Living’s Residence and Care Agreement has full details).

“Our job is to help prospective residents make an informed decision based on the actual costs here versus what they are paying in their homes,” says Ann’s Choice Sales Director Deborah Olcese. “Most times, they find they’ll spend less here and receive more in terms of services and amenities than they would if they stayed in their home.” 

What’s more, Ann’s Choice—like all Erickson Living communities—maintains a Benevolent Care Fund to assist eligible residents who outlive their resources. Indeed, no one has ever been asked to leave an Erickson Living community because of a genuine inability to pay.

‘Came out ahead’

Financial security was also at the root of Jack and Fran Gleeson’s decision to move to Erickson Living’s Eagle’s Trace campus in West Houston, Tex. After doing extensive research on the community’s financial model, Jack, a retired marketing executive for Shell Oil, knew Erickson Living was the right choice for him and his wife.

“We wanted to be sure we were making a smart financial decision,” Jack says. “I spent a good deal of time looking at the numbers and realized it would cost us more to stay in our house.

“We actually came out ahead at Eagle’s Trace,” he adds

That’s because at Erickson Living communities, there are no surprise expenses. Instead, residents have a structured, predictable financial plan that includes fee-for-service continuing care wherein they pay for advanced levels of care only if and when they need it.

More money in her pocket

Like the Rosemans and the Gleesons, Francine Ashby moved to Erickson Living’s Charlestown community near Baltimore, Md., because it made good financial sense.

“I spend much less here than I was in my house,” says Francine. “I didn’t realize how good the monthly service package actually was until I got here. I have more money to spend on myself because my day-to-day expenses, like gas and electric, the water bill, even telephone and cable costs, were much higher in my home than they are here.”

As Erickson Living has proven many times over, a predicable financial plan not only saves money, it also takes the stress out of living on a fixed budget, the benefits of which extend well beyond the purse. Instead of worrying about finances, Erickson Living residents can focus on enjoying their retirement.