Empowering Seniors With New Ways to Employ Financial Assets

Silvergate Fallbrook hosted a highly informative and engaging “Financial Planning Lunch & Learn” on Tuesday, September 19, 2023, featuring a prominent, local certified financial analyst and the esteemed owner of the retirement community which has been serving seniors in Fallbrook for more than 35 years. The event offered an enriching afternoon of lively discussion, knowledge-sharing and sound advice for seniors wondering about how to best use their retirement funds to take advantages of a vibrant retirement community lifestyle. The program highlighted the importance of key investment strategies when planning for a move to a retirement community.

“I thought the information presented was fabulous,” said Judie Erickson, who has lived in the area for more than 25 years and is considering moving to Silvergate after she sells her Fallbrook home. “I already knew that Silvergate partnered with local realtors and move managers to help with moving, but it was great to discover that they also support seniors, especially women, with understanding how to set up your finances for a comfortable future that allows you to enjoy living in a wonderful community like this.”

The focal point of the event was the engaging talk given by renowned financial planner, Brad Tedrick, President of Vantedge Wealth Management, who had his business in Fallbrook for many years, but currently operates out of Carlsbad. A veteran in the field of financial planning, Tedrick delivered a comprehensive overview of typical household expenses and how they compare to the cost of living in a premier, full-service retirement community like Silvergate Fallbrook. He also shared a few of the most common financial scenarios he sees older adults experiencing and discussed various strategies for making the most of the retirement interest income they have based on their assets and savings. The audience received valuable insights into how to put their home equity to work following a home sale by investing and earning interest on the proceeds. They also heard about how to preserve retirement funds for the long-term and in turn, how to afford a senior living lifestyle. The program involved specific exercises around understanding the true cost of home ownership, identifying various sources of retirement income and ways to leverage home sale proceeds.

“As a fiduciary wealth and financial planner, I feel a compelling responsibility to guide seniors as they navigate their retirement planning landscape,” said Brad Tedrick, a seasoned Chartered Financial Analyst (CFA), with Vantedge Wealth Management based in Carlsbad, California. “Seniors want to understand how to ensure their savings and assets will carry them all the way through their retirement, and that they will still have the ability to leave an inheritance to their children. For those who own their home, the strategies we discussed in today’s presentation make it possible to enjoy all of the benefits of a retirement community lifestyle, have ample funds for the long-haul and still leave behind a family bequest.”

Following Tedrick’s presentation, attendees had the privilege of hearing from Greg Petree, President of AmeriCare Health & Retirement, Inc., the owner of the Silvergate family of senior living communities. Petree emphasized the advantages of considering a move to senior living community while seniors are still healthy and vibrant, rather than waiting too long to make a move and placing the burden of change on their children after a health event or even a fall. Drawing upon his extensive experience and expertise in the field of senior living, Petree provided a compelling perspective on the benefits of such a transition.

“Our goal at this event was to provide seniors with an opportunity to hear about how they can use their savings, and especially their largest asset — the equity they have in their home — to take advantage of all of the benefits of a retirement community setting while they are still healthy and really able to enjoy it” said Patricia Martinez, Executive Director. “An older adult’s quality of life and well-being is enhanced tremendously by moving to senior living while health and vitality are on their side. They’re socially active rather alone; they eat nutritiously every day, and they get to enjoy the hobbies and passions they’ve often left behind years ago. Seniors get all of that and more when they let go of an aging house and all of its burdens to join us here at Silvergate.”

Event attendees were treated to a chef-prepared luncheon and given the opportunity to address the speakers with questions about their own financial situations. Both speakers emphasized the importance of proactively planning, seeking financial advice and developing a solid plan tailored to their unique circumstances. The success of the event highlighted Silvergate’s commitment to empowering seniors with educational opportunities that provide peace of mind for them and their families.