A Single Misstep: How Home Safety Preserves Your Wealth and Legacy

A Step Toward Safety: Lessons from an Investment Advisor’s Perspective

As an investment advisor, my practice is built on trust, foresight, research, facts, forecasting, and a deep commitment to my clients’ financial well-being. With a client base that’s 90% retirees and 10% business owners, my role extends far beyond managing portfolios. It’s about holistic wealth preservation—ensuring that decades of hard work, disciplined saving, and strategic investing aren’t undone by unforeseen risks. I have experience involving five decades, beginning in the 80s.

While market volatility or tax changes often dominate financial conversations, one of the most insidious threats to my clients’ security doesn’t come from Wall Street. It lurks in their own homes: the risk of slip-and-fall accidents, particularly for retirees. A single misstep can unravel a lifetime of effort, and I’ve seen the consequences firsthand. Let me share a story from my past, a lesson from a death investigation during my time with the Tampa Police Department, many decades ago, and weave it into the broader mission of protecting my clients’ legacies through comprehensive wealth advice.

Years ago, while serving with the Tampa Police Department, I was called to a quiet suburban home in the Wellswood neighborhood, to investigate a dead body call. The call did not require a full homicide team response and was rather routine. The scene was unassuming—a tidy bathroom in the house of an elderly widower. The man, in his late 80s, had lived independently, proud of his self-reliance, with a weekly housekeeper who tended to his home. That morning, the housekeeper arrived to find him lifeless on the bathroom floor. Rigor mortis had set in, and early signs of body decomposition indicated he had been dead for several days. The decomposition was not too bad but enough that the suit would need to go to the dry cleaner; again. No paramedics were called; the housekeeper’s discovery prompted a police response. The man had tripped on a small bathroom rug, its corner slightly curled from wear. As he shuffled across the tile floor, his foot caught the rug’s edge, sending him lurching forward. His forehead struck the porcelain bowl of the toilet with devastating force, killing him instantly. The man appeared as it he was frozen in the starting gate, ready to sprint down a track. Upon first glance, it was definitely eyebrow raising, followed by, “Well, that’s not something you see every day.”

We conducted a thorough investigation to ensure there was no foul play. It was what it appeared, nothing more or less, but the i’s were dotted, t’s crossed regardless. From the initial response to my securing the home around four to five hours elapsed. Additional latent investigative time was spent along with that of the medical examiner.

The medical examiner’s report confirmed our findings: a broken neck from the impact, compounded by a severe head injury. The death was ruled an accident, with no evidence of foul play. The rug, a seemingly harmless household item, had become a deadly hazard. I remember standing in that bathroom, struck by how something so mundane could end a life so abruptly. That case stayed with me, and years later, as an investment and wealth advisor and manager, I’ve shared it countless times with many clients. The story is my way of teaching and reminding my clients that wealth preservation isn’t just about dollars and cents—it’s about safeguarding the life you’ve built, down to the smallest details in your home. Such stories are not unusual and it’s merely one of many homicides I worked on. The reports of actor Gene Hackman’s wife's death from Hantavirus Pulmonary Syndrome and his eventual lonely and confused passing, highlight how even prominent lives can be disrupted by a single misstep or failure to take appropriate action.

Slip-and-fall accidents are a leading cause of injury among older adults, and the statistics are sobering. According to the Centers for Disease Control and Prevention (CDC), over 3 million older adults visit emergency rooms annually due to falls, with more than 800,000 hospitalizations. One in four adults over 65 falls each year, and falls are the leading cause of fatal and nonfatal injuries in this age group. In 2020 alone, falls resulted in over 34,000 deaths among older Americans. For retirees, who make up the bulk of my clientele, these accidents often occur at home, where familiarity can breed complacency. Bathrooms, kitchens, and stairways are common danger zones, but even a living room can become hazardous if a throw rug or misplaced towel lies in wait.

Throw rugs, in particular, are a frequent culprit. Their edges can curl over time, especially if not secured with non-slip backing or tape. For retirees who shuffle their feet—a common gait change with age—these rugs are traps waiting to spring. A momentary loss of balance can lead to a fall, and the consequences can be catastrophic. Hip fractures, head trauma, and spinal injuries are all too common, often requiring lengthy recoveries or leading to permanent disability. In the worst cases, like the man in Tampa, a fall can be fatal. Towels left on the floor, clutter, or even uneven transitions between rooms can pose similar risks. These hazards are deceptive because they’re so ordinary, blending into the backdrop of daily life until it’s too late.

My experience in Tampa shaped, in part, how I approach holistic wealth advice and management. When I meet with clients, I don’t just review their investment portfolios or discuss estate planning. I take a holistic view, recognizing that their financial security is intertwined with their physical safety. For my retiree clients, many of whom are in their 70s and 80s, I emphasize home safety as a critical component of wealth preservation. A single fall can lead to medical bills, long-term care costs, or the loss of independence, draining savings and derailing financial plans. For my business owner clients, who are often juggling demanding schedules, I stress the importance of ensuring their aging parents’ homes are safe, as many are responsible for their care.

Part of my wealth advisory and management practice and process involves candid conversations about lifestyle adjustments. For example, I encourage clients to conduct a home safety audit. This means removing throw rugs or securing them properly, installing grab bars in bathrooms, improving lighting in hallways and staircases, and eliminating clutter. Non-slip mats in showers and tubs are a must, as are handrails on both sides of stairs. For clients with mobility issues, I suggest consulting an occupational therapist to assess their home and recommend modifications. These steps, while simple, can make a profound difference.

Another sensitive but necessary topic is driving. For some retirees, declining vision, slower reflexes, or medication side effects make driving unsafe. Continuing to drive poses risks not only to themselves but to others. I’ve had tough conversations with clients, urging them to consider alternatives like ride-sharing services or public transportation. In one case, a client’s daughter thanked me for raising the issue, as her father’s near-miss accidents had been a growing concern. By addressing these issues proactively, we protect not just their financial assets but their dignity and safety.

These discussions are deeply personal, and they require trust. My clients know I’m not just their advisor—I’m their advocate, drawing on every lesson I’ve learned, from police work to financial planning. The Tampa case is a story I share not to alarm but to educate. I tell it to illustrate how quickly life can change and how small precautions can prevent tragedy. I often say, “You’ve spent decades building your wealth. Don’t let one missed step take it away.” That phrase resonates, both literally and figuratively, because it captures the fragility of the lives we’ve worked so hard to create.

Beyond individual actions, I encourage clients to involve their families. Adult children or trusted relatives can help inspect homes, arrange for modifications, or even assist with downsizing to a safer living environment, like a single-story home or a retirement community with built-in safety features. For my business owner clients, who are often pressed for time, I connect them with resources like home safety consultants or aging-in-place specialists. These services align with my mission to protect their wealth holistically, ensuring their financial plans remain intact even as life evolves.

The broader lesson is that wealth management is about more than numbers—it’s about legacy. My clients have spent their lives building something meaningful, whether it’s a comfortable retirement, a family business, or a nest egg for their heirs. A slip on a rug or a fall down the stairs can jeopardize all of that, not just through medical costs but through the loss of independence or, in the worst cases, life itself. By integrating home safety into my advisory practice, I help clients preserve what matters most.

As I reflect on that Tampa investigation, I’m reminded of the elderly man’s quiet home, the rug that betrayed him, and the fragility of the human body. His death was a tragedy, but it’s also a lesson I carry forward. Every time I walk a client through a safety checklist or share that story, I’m honoring his memory by helping others avoid the same fate. In my world, wealth advisory isn’t just about growing assets—it’s about protecting lives, one careful step at a time.

Note

In July 2022, Ivana Trump, the first wife of President Donald Trump, died at 73 after falling down the stairs in her New York City apartment, sustaining blunt impact injuries to her torso, which the medical examiner ruled accidental. This incident illustrates the universal risk of household accidents, which can affect anyone, regardless of background or status, from retirees to individuals of all walks of life. Similar to the Tampa case of an elderly man who tripped on a bathroom rug, Ivana’s death highlights how a single misstep on stairs, a curled rug, or other common hazards can lead to fatal outcomes. Such accidents not only pose immediate physical dangers but can also disrupt long-term financial stability, affecting savings, medical costs, and legacies for people across all demographics. This underscores the critical need for home safety measures—such as removing tripping hazards, installing grab bars, and improving lighting—to protect lives and preserve financial security for everyone, whether they are retirees, business owners, or from any other segment of society.

Consider

1. Remove throw rugs or secure them with non-slip backing or double-sided tape.

2. Install grab bars in bathrooms near toilets and in showers or tubs.

3. Use non-slip mats or strips in showers and bathtubs.

4. Ensure all staircases have handrails on both sides.

5. Keep floors clear of clutter, cords, and small objects.

6. Improve lighting in hallways, stairways, and entryways with bright, even bulbs.

7. Install nightlights in bedrooms, bathrooms, and hallways for nighttime navigation.

8. Use motion-sensor lights for outdoor pathways and indoor areas.

9. Ensure light switches are easily accessible at room entrances.

10. Replace slippery floor surfaces with textured or non-slip materials.

11. Keep frequently used items within easy reach to avoid climbing or stretching.

12. Use sturdy step stools with handrails for reaching high places.

13. Install lever-style door handles for easier gripping.

14. Ensure door thresholds are low or ramped to prevent tripping.

15. Use high-contrast colors to mark edges of steps or changes in floor levels.

16. Keep walkways and paths outside the home clear of debris and uneven surfaces.

17. Repair cracked or uneven sidewalks and driveways.

18. Install outdoor handrails along steps or ramps leading to entrances.

19. Use automatic door openers or keyless entry systems for easier access.

20. Ensure smoke and carbon monoxide detectors are installed and tested regularly.

21. Keep a fire extinguisher accessible and know how to use it.

22. Create a clear path to exits for emergency evacuations.

23. Use chairs and furniture with firm support and armrests for easier sitting and standing.

24. Avoid furniture with sharp edges or corners in high-traffic areas.

25. Ensure rugs and carpets are firmly tacked down or have non-slip pads.

26. Use cord organizers to prevent tripping over electrical or phone cords.

27. Install a walk-in shower or low-step tub for safer bathing.

28. Use a shower chair or bench for added stability during bathing.

29. Keep a phone or emergency alert device accessible in every room.

30. Consider a medical alert system for quick access to help in emergencies.

31. Ensure all electrical outlets and cords are in good condition to prevent fires.

32. Use appliances with automatic shut-off features, like coffee makers or irons.

33. Store heavy items on lower shelves to avoid pulling them down.

34. Maintain a clear path between furniture for easy movement with walkers or canes.

35. Use contrasting colors on walls and floors to improve depth perception.

36. Keep outdoor areas well-lit with solar or motion-sensor lights.

37. Regularly check and replace batteries in assistive devices like hearing aids or alarms.

38. Consult an occupational therapist for a professional home safety assessment.

39. Consider downsizing to a single-story home to eliminate stairs.

40. Schedule regular home maintenance to address hazards like loose tiles or leaky pipes.

Also Consider

Disclaimer: Before starting any new exercise program, including the activities listed, consult your doctor to ensure they are safe and appropriate for your health condition and physical abilities. Obtain medical clearance to confirm you can safely participate, as individual health risks vary.

1. Chair squats: Stand up and sit down slowly on a sturdy chair 10-15 times to strengthen legs and glutes; consult your doctor before starting.

2. Wall push-ups: Face a wall, place hands at shoulder height, and do 10-15 slow push-ups to build upper body strength; stretch shoulders afterward.

3. Seated leg extensions: Sit in a chair, extend one leg straight, hold for 3 seconds, and switch; repeat 12 times per leg for quad strength.

4. Calf raises: Hold onto a counter, rise onto toes, hold for 2 seconds, and lower; do 15 reps to strengthen calves; stretch calves post-exercise.

5. Seated torso twists: Sit in a chair, twist gently to one side, hold for 5 seconds, and switch; repeat 10 times per side for core flexibility.

6. Shoulder rolls: Roll shoulders forward and backward 10 times each way to improve upper body flexibility; incorporate throughout the day.

7. Ankle circles: Sit or stand, lift one foot, and rotate ankle 10 times in each direction; switch feet to enhance joint mobility.

8. Daily walking: Aim for 10,000 steps daily, using a pedometer, smartphone, or smartwatch to track; consult your doctor first for safety.

9. Seated arm raises: Hold light weights or water bottles, raise arms to shoulder height, and lower; do 12 reps to strengthen shoulders; stretch arms after.

10. Stretching and movement breaks: Set phone alarms every 1-2 hours to remind you to stand, stretch, or walk briefly to maintain flexibility and endurance.