By Meghan Streit
THE ERICKSON TRIBUNE

Once you make the decision to move to a retirement community, it’s important to choose one that protects your financial assets. You’ve worked hard for your  money, so you want to make sure you’re getting the best value for your dollar.

With that in mind, 25 years ago Erickson Retirement Communities pioneered the 100% refundable entrance deposit. For people living at Monarch Landing, Erickson’s Naperville community, their deposit covers the cost of maintaining community spaces such as the on-site medical center, restaurants, hair salon, convenience store, lounge, and climate-controlled walkways.

“At some point in the future if a person decides to leave Monarch Landing, his or her deposit is returned, or it passes on to the estate or heirs,” says Greg Mrumlinski, marketing director.

The deciding factor
When people are considering making a move to Monarch Landing, the 100% refundable entrance deposit is a deciding factor for many of them, since most retirement communities do not make a similar guarantee.

“The 100% refundable entrance deposit is what really clinched it for us,” residents Karl and Mary Ilg say. “We’re guaranteed a 100% return for our children or for us if we ever decide to move, though I can’t imagine we’ll ever do that.”

Most residents pay their entrance deposit using part of the proceeds from the sale of their house. So rather than being vulnerable to fluctuations in the real  estate market, that money is guaranteed to be there in full when residents move or pass it on to their families.

“With the 100% refundable entrance deposit, our nest egg is safe,” say Jim and Annie Hake. “We can leave something to our kids.”