Daily Money Management
Paying the right bills on time when we are older.
Did you know there is such a thing as a ‘Daily Money Manager’?
If you or a loved one you care for could use assistance with daily bill pay and ensuring the money in the checking account does not go to the wrong places, a ‘Daily Money Manager’ can help. According to the National Association of Daily Money Managers, these professionals deliver bill pay and financial services and oversight to seniors and older adults, in addition to high net worth individuals and busy professionals. Members of the National Association of Daily Money Managers must adhere to a strict Code of Ethics and High Standards of Practice.
Older adults and loved ones caring for them may benefit from the services of a Daily Money Manager.
Who needs a Daily Money Manager? When an older adult could use some help with handling bills, deposits, and making payments in a timely fashion, such a professional can help. Asking a friend to help with this responsibility may sound like a good idea. And in rare cases, it may actually go OK but this course of action is not recommended. Having a professional who is licensed or part of a professional association that monitors its members, provides some peace of mind and a level of oversight that can be helpful. Frequently, a Daily Money Manager is part of a team. Having a team with separation of duties is another degree of control in your oversight. Often, members of an older adult’s financial team could include:
- A CPA or Enrolled Agent, to help with your or your loved one’s taxes.
- A Certified Financial Planner (CFP) or Registered Investment Advisor (RIA) to manage investments.
- An attorney to help you with a will, estate management, or trust.
Real people. Ready to listen.
Happy to be of service, to you.
1800 Diagonal Road, Ste. 600
Alexandria, VA 22314
800 - 222 - 1425