I’m pleased to share with you a recent feature article that ran in the Career and Jobs section of the San Jose Mercury News and other affiliates in the Bay Area.

Minda Cutcher, Financial Advocate for Seniors

By Charlotte Cusack

What’s your background?

I spent over 30 years in the private sector managing multi-million dollar budgets and leading large teams in the telecommunications industry. As a woman engineer in the 70s, I was part of a program that helped expose women with management potential to almost every kind of position and function possible, which included designing additions for telephone buildings, property management, construction project management, human resources and field operations. At another company, I was a finance manager responsible for both billing and collections activities for over $500 million in annual revenue.

I earned a bachelor’s degree in Civil Engineering from Cornell University and a Master of Business Administration (MBA) with a concentration in Finance from Northeastern University.

Tell me about your journey to becoming an advocate.

I’m an only child, and my parents were older when they had me. They started to decline earlier than my peers’ parents, so I’ve had to face the issues involved with parenting one’s parents before my friends did.

My mother passed away over 10 years ago. Eventually, my father’s health significantly declined; he was 93 years old and living 3,000 miles away when I became more involved in his care. I was laid off from my finance manager position three years ago, and I turned my focus to caring for my dad. I learned that his cleaning lady was helping him pay the bills, and I discovered he wasn’t taking advantage of benefits, such as veteran’s benefits for which he was entitled. A week after my father passed away, I also realized that there was so much business around death. Getting death certificates, calling social security, stopping pension payments – a lot of stuff nobody tells you about, all on top of planning his funeral and trying to dispose of his property.

Finding work was difficult because the economy had just tanked, so I decided to start my own business helping seniors and their adult children navigate through what I call the ‘financial challenges of aging.’

What are your duties?

The business initially began as a way to help seniors balance their checkbook, pay bills and organize a budget. But, after helping a few clients, other issues came up, such as overdue charges on credit cards. So, the advocacy element entered, and I was able to call the credit card company on their behalf and get the fees waived. Today, I offer a variety of services: Household management, downsizing and move management, health care cost reduction and geriatric care management. I also have a trusted professional network of other individuals and businesses to assist seniors who I can direct my clients to.

I don’t make decisions for the members of a family, but I provide all the necessary data in order for them to make an informed choice. About half my clients are adult children who are making decisions on behalf of a parent who cannot handle their own affairs anymore. The others are self-sufficient seniors who just need a little more help around the home.

Why do you love your job?

It’s very heartwarming work, and I consider it an honor because I am privy to intimate details of my clients’ lives. My primary responsibility is to the senior and protecting their assets and their wishes. I call myself a ‘dutiful daughter’ because, in some cases, I act like a stand-in for an adult child as I help a client through difficult transitions.

What’s your advice to someone interested in this profession?

I believe you need business experience, and you definitely need life experience. I think it’s a fabulous career for those who are looking for a second career or people who have gone through this. Strong communication skills, empathy and a high level of ethics are all important. Trust is very important, especially because you’re dealing with family finances and the realities of family dynamics. There will always be a need for the younger generation to care for the older generation, and it’s an honor and privilege to help families put the necessary support in place.