Private Programs

      There are some items that older adults need that can and should

be picked up by the Private Sector as areas with great growth

potential. Since the World War II Baby Boomers will be aggressively

seeking services and goods until about 2050, these areas could be

very profitable for the corporations that supply their needs and wants.

A new industry has grown to meet some of these needs. The

American Association of Daily Money Managers represent some of

these new professionals. They have their Code of Ethics on their

web site found at http://www.aadmm.com. As their web site

discloses, they work with the client’s existing accountant, lawyer, or

social worker rather than replace these other professionals. The

definition they give of their service: “Daily money managers (DMMs)

provide personal business assistance to clients who have difficulty in

managing their personal monetary affairs. The services meet a

continuum of needs, from organizing and keeping track of financial

and medical insurance papers, to assisting with check writing and

maintaining bank accounts.”

      While it is true that OAA provides a similar service, the funding of

the OAA keeps these types of services in rare availability, so the

Private Sector has begun to offer this service. Some of these new

professionals go beyond the score of DDMs and, with more

education, have created case management services.

      The American Association of Retired People (AARP), a non profit organization, helps seniors in a number of ways. Since there are scam artists who target seniors, one of the most important services that AARP provides are online information articles to help keep the seniors safe. Some of the areas covered online are:

“Credit Card Fraud, Dollars and Dents: Staged Car Accidents, Door-to-Door Sales: Protect Yourself from Fraud, Identity Theft, Medicare Drug Discount Card Scams, Medicare Fraud Hurts You, Nigerian Money Offer Scams, Payday Loans Don't Pay, Stop Dishonest Telemarketers, Sweepstakes Action, Travel Fraud, and Work-At-Home Scams.”  Retrieved from http://www.aarp.org/money/consumerprotection/

       However, it is important to note that most people are members for AARP for the discounts, not for the information; so much of what is produced is not seen by most of the members of AARP. And not every older adult is a member. Therefore this important information is not consulted often enough by the older adults.

       Other areas of concern for the older adult can be found on this author’s web site and include:

Dealing with Your Children                        Drivers License/State ID
Second Marriage Considerations            Prenuptial Agreements
Durable Power of Attorney                         Living Wills                            
Ownership Effects:           

-Sole Ownership     -Joint Tenants     -Tenants in Common
Terminally Ill and Finances               

Discussions for these areas are found at the following address: http://www.collegestudy.org/makingthemostofretirement/id10.html