In the midst of this recession, the question asked of us is the usual, "How has the economy affected your business?"  Our answer is that seniors continue to need assistance.  The need for a financial organizer is not defined by the economy, but rather by the situation of the senior.  To help a senior be prepared, plan ahead before a crisis.  Follow this link to our "10 Mistakes to Avoid: Making Your Senior Years Easier" PDF.

 

Unfortunately, many seniors will not allow outside help before a crisis strikes, or sometimes those concerned about the seniors in their lives don't notice the slow decline.

 

If a friend or family member is prepared to help, here is a checklist of things to do:

 

If family and/or friends do not live nearby, or they are fully occupied with work and kids, or their relationship with the senior is strained, or a senior does not have family or friends, then hiring a daily money manager/financial organizer may be critical if a senior is to continue to live safely and comfortably at home.

 

How to Hire a Daily Money Manager/Financial Organizer:

Search for a local Financial Organizer/Daily Money Manager by visiting the websites of:

The American Association of Daily Money Managers www.aadmm.com

The National Association of Professional Organizers www.napo.net

 

Some Pointers From the Website of the American Association of Daily Money Managers In Hiring a Daily Money Manager (DMM):

• First, ask for a referral from someone you know and trust, such as a friend, relative, lawyer, accountant, or doctor. If none of these people can put you in touch with a DMM and you must hire a basically "unknown" person, be ready to address the following issues before hiring a DMM:
  
  
• Is the DMM willing to involve another person in their work, such as a lawyer, accountant, or family member?


• Ask in advance for their policy on first meeting charges.


• Review the scope of the work before you agree to having the DMM start working for you. Many times this is accomplished at the initial meeting.


• Are they insured?


• With which local organizations are they affiliated?


• Can they provide a reference list? A reference list should include two or more clients or their family members and at least one professional; it may include a personal reference.


• Take the time to call the references on the list, asking them whether the DMM is: respectful, dependable, efficient, empathetic, and professional in manner. How were any conflicts resolved? Have they ever felt uneasy about the work done by the DMM and do they feel comfortable asking for explanations of things you don't understand?


• Your access to your own records, especially financial records, should not be restricted by the DMM. If you are being kept in the dark about the status of your own affairs, take this as a sign of trouble.


• How does the DMM bill for their work?


• Be sure that you understand the billing arrangements before the work begins.


• What will the services of the DMM cost and what are the common billing methods?

• Most DMMs charge for their services on an hourly basis with rates varying with geographic areas.


• In addition to the hourly rates, most DMMs charge for their travel time and for out-of-pocket expenses such as postage stamps provided to their clients and long distance charges for calls made on a client's behalf.

Rebecca and Gideon's Speaking Engagements

 

Rebecca and Gideon are available to speak to groups on a variety of topics related to seniors and their families.   

Past Speaking Engagements & Events:

April 23^rd we spoke at The Hallmark of Battery Park City to residents, potential residents and professionals about 10 Mistakes to Avoid: Make Your Senior Years Easier

May 6^th - we exhibited at Estate Planners Day held at the Yale Club

May 19^th - Rebecca was on the panelists at the Senior Umbrella Network of Brooklyn (SUN-B)'s mini-conference held at Shorefront Jewish Geriatric Center discussing Love is a Battlefield - How Families Deal with Issues Related to Their Aging Loved Ones

May 31^st - we exhibited at the New York Senior Expo 2009 - we had a lot of traffic at our exhibition table

June 16: Gideon and Rebecca spoke at the Atria 86^th Street to their residents about 10 Mistakes to Avoid: Make Your Senior Years Easier.

 

 

Upcoming Speaking Engagements:

July: The Hallmark of Battery Park City will have Rebecca and Gideon speak to the residents' as part of it's Wellness Seminars.

October or November:  Rebecca, with Patricia Mulvey of Jewish Home Lifecare, will speak to Health Leaders of New York (HLNY) - www.hlny.org  on the continuum of care from home to hospital/rehab to home.

October 1  - Isabella Full Services for Seniors - 515 Audubon Avenue, New York, NY: we will speak at their Health Fair

 

Affiliations

 

Gideon is now the Leader of NAPO (National Association of Professional Organizers) Special Interest Group on Seniors.

 

Rebecca is honored to have been voted to the Board of Directors of Savvy Ladies which is dedicated to providing financial education to women in their quest for financial independence.   www.savvyladies.org

 

Rebecca is the convenor of the AADMM Greater New York Regional Group.

 

Gideon is Treasurer of the NAPO-NY Chapter Board of Directors.

 

 

Previous Newsletters Archived on our Website

 

Our previous newsletters are archived on our website at http://www.eddyandschein.com/newsletters.php 

At any time, from our home page, you can click on the "View Archives" link situated below the subscription sign up space.

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If you found our newsletter informational or useful, please scroll back to the top of the page and click on the link Send this to a friend - to send it to anyone else who would benefit from it!  

Please feel free to contact us and take advantage of our free telephone consultation.  We would be happy to talk to you about how we can provide Life Keeping, Not Just Bookkeeping®.

 

Sincerely,