More Than Just Earning a Living
My second career as a Daily Money Manager has been truly meaningful
In Spring of 2026, as I started my third year as a Daily Money Manager (DMM), “Bob,” an 84-year-old client, passed away unexpectedly. I started working with Bob at the very beginning of 2024, my first year in business. He was my first client to die, although given my focus on working with seniors, I know he won’t be the last.
Bob was extremely hard of hearing. When we first met, he was also becoming increasingly forgetful. During our first few visits he was hesitant to tell me when he didn’t hear or understand me, making communicating with him challenging. As we got to know each other over the following year, he told me when he didn’t hear me and I worked to project, sit near his “good” ear and confirm his understanding. He started sharing stories about his travels and often expressed gratitude for the help I provided, saying he knew he could no longer pay his own bills or organize his annual income tax information.
Carrying out final wishes
As I do with my clients, I asked Bob about his estate planning and final wishes. We worked with a local funeral home and prepaid for cremation and a spot in a local cemetery, which gave him peace of mind. Bob told me he wanted his grown son to serve as financial and health care Power of Attorney as well as executor of his will. Bob was hesitant because he hadn’t been close to his son after divorcing his mother and had deep personal regrets about it. He asked me to reach out.
I was able to locate Bob’s son and share Bob’s wishes. They became reacquainted over the next few months and his son paid Bob regular visits. In the meantime, Bob’s attorney drew up estate paperwork to include his son in those important roles.
Less than three weeks after the paperwork was signed, Bob died after a brief illness.
As Health Care Power of Attorney, his son knew what Bob wanted his final days to look like. He also knew that Bob wanted to be cremated and had a final resting place. He worked with Bob’s attorney to set up the estate.
Grief and gratitude
I was saddened by Bob’s death. Once we were able to communicate, we grew fond of each other. He loved to read and I was among those who brought him books. As a DMM with a young business, I was also gratified to see how my work with Bob helped foster a relationship with his son, allowing him to seamlessly carry out Bob’s wishes.
When I first met Bob, a recent health crisis had resulted in his hasty move to an assisted living facility. Among other things, I ensured that his rent, prescriptions and other bills were put on auto pay, he had the personal supplies he needed, and his taxes were filed. I also helped him obtain a caption phone. Having these things in place allowed him to have a higher quality of life and a greater level of independence. Every time we said goodbye, he sincerely thanked me.
Nerves, curiosity and support
Two years earlier, as I considered leaving my comfortable, secure corporate job of almost 20 years and starting my own business, I was nervous. I was ready for a change and wanted more flexibility to spend time with my own aging parents who increasingly needed my help. It scared me to think of not having a paycheck every two weeks, not to mention paid health insurance and other benefits. I talked extensively with an established local DMM who assured me that there was a great need for DMM services among local seniors. In November 2023, I attended a conference put on by the American Association of Daily Money Managers (AADMM), where I took the Business Basics course and asked questions of everyone I met. While I was still nervous, the information, support and encouragement I received convinced me to take the plunge.
During the past two-plus years I’ve used AADMM resources and consulted with members, including through the AADMM mentorship program, which provided me with an incredible and invaluable experience.
No regrets
Now in the middle of my third year in business, I have a full client load of all seniors. I’ve come to believe it’s an honor to help this population as they enter their twilight years. I learn something new almost every day and I continue tapping into AADMM resources and its generous members. I partner with wealth advisors, tax preparers, powers of attorney, adult children and many others in support of clients so they can live out their lives free from worry about their daily finances.
I’m grateful to Bob and other clients for so clearly teaching me that my work as a DMM is so much more than just a new way to earn an income.
If you are wondering about your own second career – or your first – I urge you to learn more about Daily Money Management and AADMM.
Erin Johansen is founder and owner of Simple Solutions Daily Money Management LLC.
