RANCHO BERNARDO, CA – January 2, 2020 – For most working adults, retirement goals are focused squarely on saving money for when the time comes to stop working and start enjoying favorite pursuits. For Ron Hubbard, a long-time architectural engineer, and his wife, Emily Hubbard, the road to retirement was paved with raising four daughters, cross-country trips in their RV and memories built in a home they owned for more than 20 years.
After retiring, the Hubbards started to give thought to what they wanted retirement to look like. They had a good friend whose husband had passed away, and because she has started to feel isolated, she had been investigating senior living communities. She introduced the Hubbards to a senior living community in northern San Diego county. They discovered that it required a large “buy-in,” an entrance fee that functions much like a deposit but only allows for a portion of the fee to be returned down the road.
The couple wanted to make the most of their retirement savings. They knew that savings vehicles like a 401k, pensions, annuities, life insurance and investment accounts are all a part of the retirement savings equation. They also understood that the single most important source of retirement funds would come from the equity they built over years of making mortgage payments. The equity in their home ensured their ability to afford the kind of senior living lifestyle that they had envisioned.
“Based on the value of our home, I’m not worried about affording retirement,” said Hubbard, who plans to sell his home just north of Lake Hodges in the near future to move to Silvergate when it opens in 2020. “Initially, we bought into a much larger senior community here in San Diego, but it required an incredibly hefty up-front buy-in fee. After carefully considering the consequences of forking over our equity to someone else just to gain entry into a community, we decided that wasn’t the best way to continue to grow our retirement assets.”
The couple kept their eye out for a better senior living solutions. They discovered Silvergate Rancho Bernardo and learned that the monthly rental program at Silvergate Rancho Bernardo was different. The Hubbards believed the more manageable community fee at Silvergate would allow them to have greater control over their single largest source of retirement money…the proceeds from the sale of their home. After a more than a year of waiting to get into the other community, the couple changed gears and decided on Silvergate.
Silvergate offered the benefits and security of a resort-style senior living community at a cost that would stretch their savings over their life expectancy, according to Hubbard.
“We are so fortunate to have found Silvergate,” he said. “We don’t have to change a thing…we get to stay right here in our own hometown. We get to go to our same church, our same stores and our favorite local eateries. Best of all, our hard-earned equity stays in the bank earning interest right where it should be. Our equity is preserved and our future feels secure.”
“We reserved our new home at Silvergate because we loved the look of the community,” said Hubbard, whose career was spent as an architectural engineer. “My wife loved the graceful exterior arches, the beautiful stonework and the smart designs of the interiors. We couldn’t be happier with our decision to come to Silvergate.” The couple will take up residency at Silvergate Rancho Bernardo in the coming weeks in one of the community’s beautiful two-bedroom Mirasol floorplans.
Reservations are now being accepted for the remaining one-bedroom floorplans within the community. Now more than 90% pre-leased, prospective residents can call 858-792-0696 ext. 114 to RSVP for an upcoming OPEN HOUSE or to inquire about availability. Wait lists have begun to form for the two-bedroom apartments and the Cottage homes. Advance reservations are expected to begin for the Memory Care Suites in early 2020.