Caring for Mom’s Nest Egg

Lillian was having problems paying bills on time and managing her life’s paperwork. She worried about it constantly, but didn’t want her grown children to know—after all, they had their own families to tend to and didn’t live close by. Since her early 70s she’d noticed her memory slipping, but after Joe her husband of 53 years passed a few years ago, life had become stressful. Joe had done everything around the house, including the bill paying. By her 76th birthday, Lillian was still in fairly good shape physically. She stayed active and tended to her dietary needs. However, her short term memory issues worsened so that some bills were paid late. Developing cataracts made close-up work difficult and bill paying a frustration.

After an honest and loving conversation between Lillian and her adult children about these struggles, the decision was made to engage a Daily Money Manager (DMM).

birds nestNot exclusively for seniors, DMMs have been in demand by the wealthy for generations. As the population aged and it became the norm for children to leave the hometowns they grew up in, daily money management filled a growing need. The computer age and the increase in fraud, especially scams that prey on seniors, called for a stronger degree of financial oversight for seniors. Whether living at home or in senior housing, elders without that oversight might see their nest egg gone.

Daily Money Managers provide services that are highly customized to their client’s needs. Nowadays, clients have their bills sent directly to the DMM company, which scrutinizes them for accuracy then pays them out of the client’s checking account. If anything irregular appears on a bill, they verify the payment with the client beforehand.

Had Lillian engaged with DLMoneyMatter’s DMM division, she would now be enjoying her retirement free from the worries of managing her daily financial affairs—and her children would have the peace of mind that Mom is safe from late fees, fraud, and daily money worries. If you have a Lillian in your life, or know someone who does, please forward this email or refer them to us for a free, no-obligation quote on Daily Money Management services with us.