Photo credit: Helloquence on Unsplash
If you are an older retiree and have been overwhelmed lately with managing your financial accounts, it might be time to consider hiring a Daily Money Manager (DMM). A DMM is a cost-effective way to help keep your financial life in order by hiring a professional to help you keep track of paying your bills on time, balancing your check book, handling insurance matters and providing tax documents to your accountant. Depending on where you live, costs can range between $75 to $150 an hour and some even charge a monthly retainer instead of an hourly fee.
Atlanta Seniors Real Estate caught up with Barbara Scurry, founder of Senior Partners. Barbara has been a DMM for 6 years and 10 years in geriatric health care/ marketing.
“I’ll share with you the story of Dorothy, a client of mine for almost four years. Dorothy was 79 years old when I started working with her. She never married, had no children, siblings, or other relatives with which she associated and she lived in an assisted-living facility (ALF).She was highly educated and detail-oriented but had stopped paying her bills and was showing early signs of cognitive decline. When I started working with Dorothy, I had great concern that she would run out of money within 12 to 18 months.”
Saving and finding money
Scurry said, “I began basic daily money management services, including opening and sorting her mail, making calls to outside vendors on her behalf, and organizing her files. But I got involved with her life issues as well and quickly realized she was not getting the care she needed (and was paying for) at the ALF where she was living. I helped her find a new ALF that saved her $2,500 per month in living expenses.”
Dorothy was also missing stock certificates that were about to be turned over to the state of Georgia, “one evening, as I was going through some old papers I finally found them! When we deposited those certificates, they ended up being worth more than $125,000! That money helped take care of her needs for the next three and a half years!”
Help with moving
Scurry even advised Dorothy on moving, a service perfectly aligned with the real estate transition services provided by Atlanta Seniors Real Estate Team.
“I referred her to a professional move management company and coordinated their services to get her packed, moved, and unpacked at her new location.”
If you need the services of a Daily Money Manager, a great place to learn more about this unique service and find a professional is with the American Association of Daily Money Managers.
If you or your senior parent(s) are ready to buy or sell real estate in Georgia, be sure to contact Atlanta Seniors Real Estate team of certified and personable Seniors Real Estate Specialists to help make the transition as smooth as possible.
Senior Partners. Main page
American Association of Daily Money Managers. Main page