By Laura Hipshire
THE ERICKSON TRIBUNE

When it comes to saving for retirement, every penny counts. In a recent study of 2,500 people ages 45 to 64 published in AARP Magazine 71% admitted they are worried about having enough money for the retirement they envision.

Henry Ford Village, a retirement community by Erickson in Dearborn, has been tackling the issue by offering several financial options and predictable monthly home costs.

Stability in utility costs
Unlike a house, Henry Ford Village combines all home costs into a monthly service package, which includes all utilities (except phone), 24-hour  maintenance, one meal a day in the community’s restaurants, and use of all the on-campus amenities.

Joe Harsel, Erickson’s director of community relations, says Erickson  communities like Henry Ford Village can pay utilities in one lump sum. “That amount is then divided up among each apartment home to create the monthly service package,” he explains.

In turn, Henry Ford Village has more control and can soften unexpected rate hikes in one area or another. “A solid, predictable amount goes to the local community and keeps the monthly service package at a reasonable cost for the middle-income retiree,” Harsel says.

Affordable retirement
In another effort to keep Henry Ford Village affordable amidst rising prices elsewhere and to help people feel more stable in their retirement living decisions, the community created a flexible pricing plan for three different home styles—studio, one bedroom, and extra-large one bedroom.

The flexible pricing plan gives people the option to pay a lower entrance  deposit  with a slightly highermonthly service package. For example, the entrance deposit for a one-bedroom home starts at $33,000, and a studio starts at $6,000.