Planning for a Secure, Engaging Retirement at Eagle’s Trace

Houston, Texas–By the time Jack Gleeson and his wife Fran moved to Eagle’s Trace in 2013, the couple had a file folder bulging with information about the West Houston community developed and managed by Erickson Living.

“We wanted to be sure we were making a smart financial decision,” says Mr. Gleeson, a retired marketing executive for Shell Oil. “I spent a good deal of time looking at the numbers.”

Financial Planning

As part of the process, the sales team at Eagle’s Trace gave the couple a brochure with information about the community’s amenities, continuing care options and financial structure.

The brochure includes a cost analysis worksheet, giving prospective residents the opportunity to compare their current monthly expenses, including mortgage, taxes, homeowner’s dues, utilities, insurance, and miscellaneous costs, with what it would cost to live at Eagle’s Trace.

“I filled out the sheet and realized it would cost us more to stay in our house,” says Mr. Gleeson. “We actually came out ahead at Eagle’s Trace. That was a big factor in our decision to move.”

The Gleesons aren’t alone when it comes to prioritizing financial considerations for future living arrangements.

“Retirement continues to be the most important priority and the biggest financial liability we face,” says John Spoto, a certified financial planner and president and CEO of Sentry Financial Planning. “Planning for it is a multi-decade process that involves saving and investing throughout our working careers and then spending with confidence during retirement.”

A Secure Financial Model

The financial structure at Eagle’s Trace has two basic components, the 90-percent refundable entrance deposit and a monthly service package. The entrance deposit secures the residents’ apartment home as long as they live in the community. If they move, they receive 90-percent of the deposit; if they spend the rest of their lives at Eagle’s Trace, the 90-percent goes to their beneficiaries.

“The 90-percent refundable entrance deposit is like money in the bank,” says Mr. Gleeson. “You’re not losing or gaining any money. That’s a big plus when it comes to preserving your investment.”

The monthly service package covers most utilities including air conditioning and heating, 24-hour security and emergency first response, flexible dining plans, scheduled shuttle service, trash collection and recycling at your door, and all maintenance and repairs.

Eagle’s Trace also houses an onsite continuing care neighborhood, offering assisted living, skilled nursing, and rehabilitation. As a fee-for-service community, residents pay for advanced levels of care only if and when they need it. It is an affordable and secure financial model for many retirees.

“A few years ago, the Resident Advisory Council at Eagle’s Trace did a comparative study of Eagle’s Trace and 12 other Houston-area retirement communities,” says Mr. Gleeson. “The study compared apartments with similar square footage and found that Eagle’s Trace was number one in terms of value for price paid.”

A Home for Life

As part of its Home for Life commitment, Eagle’s Trace maintains a Resident Care Fund, designed specifically to assist eligible residents who outlive their resources. No one has ever been asked to leave the community because of a genuine inability to pay.

“Eagle’s Trace provides financial value and security to residents through a transparent sales process, predictable expenses and the long-term benefits of our 90 percent refundable entrance deposit and Resident Care Fund,” says Director of Sales Pam Burgeson. “Eagle’s Trace is part of the Erickson Living enterprise that enjoys a 36-year track record of serving seniors. We take great pride in maintaining strong financials and being good stewards of our residents’ money.”

“Our residents enjoy a quality lifestyle with exceptional care at a great value,” adds Ms. Burgeson.

About Eagle’s Trace: Eagle’s Trace, one of 20 continuing care retirement communities developed and managed by Erickson Living®, is situated on a scenic 72-acre campus in West Houston, Texas. The not-for-profit community of more than 935 residents and 500 employees is governed by its own board of directors, affiliated with National Senior Campuses, who provide independent financial and operational oversight. Additional information can be found at EaglesTraceCommunity.com.