Daily Money Management (DMM) for Seniors
Father Time’s shown us over and over again: aging reduces physical and/or mental competency and introduces the chance of dementia and/or Alzheimer’s disease. These unwelcomed consequences of growing older are challenging, maybe even frightening at times, for both the senior citizen and their adult children.
Family members may find themselves thrust suddenly into the financial caregiver role, charged with protecting a senior loved one from financial fraud and safeguarding family assets. Baker DMM is a daily money management firm that was created for seniors and their caregivers. Let us help.
Are you new to the idea of a daily money manager? Wondering what they do? Very simply: we ease the burden of providing financial care for a senior loved one or friend. More specifically, a daily money manager is a third party trusted to:
Manage financial bookkeeping
Monitor for suspicious activity
Act as a Power of Attorney
Provide financial advice
Assist with vendors
Help pay bills
DMM for seniors is about integrity and fiduciary responsibility
Much like doctors, a daily money manager’s fundamental obligation is first to do no harm. By helping them retain their economic health, seniors are better positioned to age in place, with dignity and freedom, rather than relying on adult children or government agencies for assistance.
It’s also worth noting daily money management is not just for the elderly. High-level executives and business owners often seek a professional daily money manager to administer their personal or household financial tasks. Concerned family members may hire a daily money manager to protect the financial interests of a mentally-challenged or developmentally-delayed adult relative. We all pay bills. We all have monetary obligations. And someday, many of us will likely need help understanding and fulfilling those obligations. It’s never too early to interview a daily money manager.
Ready to at least consider how integrating a daily money manager can ease your load? Schedule your free Baker DMM initial consultation. You’ll talk, we’ll listen, and when we’re finished, you’ll have a genuine sense of how partnering with Baker DMM can impact your life.
Professional services aren’t commodity items; one does not hire a daily money manager the same way one buys shoes, fuel, or groceries. Baker DMM works diligently to make our services as affordable as possible so we can help as many people as possible. We offer both fixed rate or hourly rate services. Personal finances are exactly that: personal. No two clients have the same financial needs, and therefore no two clients generate the same costs. Whether we agree to a flat fee, or your tasks are more suited to an hourly rate, you’ll know the cost before the first payment. No surprises.
“Baker DMM provided me with a comprehensive look at my personal financial situation. Establishing a budget and receiving their monthly financial reports were invaluable to me. I now have a concrete plan for managing my cash-flow more efficiently and will be able to better handle my personal finances moving forward.”
Commercial Real Estate Services
“Baker DMM has been a tremendous resource in helping us organize our financial affairs, think about our long-term goals, and move in the right direction to achieve those goals. We are very grateful to Baker DMM. Chris Baker is a fair, honest, and diligent professional and who always made himself readily available if we had questions. We will continue to recommend Baker DMM to family and friends.”
Senior Consultant at Vaco Resources
“Baker DMM took the time to clearly understand what I was looking for. They were right on target with the following: 1.) Understanding my needs 2.) Making sure I knew what to expect during the engagement 3.) Being on-time completing the project 4.) Above all, they followed up with me to make sure they completed the work to my satisfaction and explained and presented the completed work to me.”
Vice President, Financial Services
“I have had a professional working relationship with Chris for the past 5 years. He is a person of unquestionable integrity who is dedicated to producing quality work while maintaining a professional, yet personable, relationship with clients.”
Compliance Manager, Bluelinx Holdings, Inc.