Managing the financial risks of dementia

Planning resources for caregivers and their loved ones

Research shows

Cognitive decline affects millions and it can cost hundreds of thousands of dollars.

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Increasingly more common

By 2050, the number of people aged 65 and older with Alzheimer’s may grow to a projected 12.7 million, barring the development of medical breakthroughs to prevent or cure Alzheimer’s disease.

Source: 2023 Alzheimer’s Association disease facts and figures report from ALZ.org

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Unexpected missteps

80% of caregivers report some level of financial mismanagement in families affected by cognitive decline.

RBC Survey: Preparing for the expected, the financial impact of cognitive decline

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A hefty price tag

The average nursing home stay is 5 years for a patient with Alzheimer’s—with an estimated $480,000 price tag.

Source: Genworth Cost of Care Survey, 2021

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Insights for cognitive decline

Managing the financial risks of dementia and cognitive decline

Family finances

More than 16 million Americans provide unpaid caregiving to someone with dementia, and that number will only continue to increase.

9 minute read
– Managing the financial risks of dementia and cognitive decline

The cost of caregiving falls disproportionately on women

Eldercare

Women tend to be the primary caregivers for aging parents and spouses. Nearly two-thirds of dementia caregivers in the United States are female.

6 minute read
– The cost of caregiving falls disproportionately on women

The impact of cognitive decline on the Sandwich Generation

Health care

A new study found the cost of care and disruption to careers can cost caregivers in the Sandwich Generation up to $750,000.

7 minute read
– The impact of cognitive decline on the Sandwich Generation

Four financial warning signs of dementia

Health care

How can you tell if someone is suffering from dementia? Here are four warning signs that can signal diminishing capacity.

6 minute read
– Four financial warning signs of dementia

What the rise of dementia may mean for your financial future

Health care

If you or a loved one is diagnosed with any form of dementia, the financial stakes are high.

6 minute read
– What the rise of dementia may mean for your financial future

Taking a stand against dementia, the silent killer of retirement dreams

Eldercare

A dementia diagnosis can have a devastating impact on financial stability.

3 minute read
– Taking a stand against dementia, the silent killer of retirement dreams

Dementia: How I lost my life savings

Health care

Nancy Carlson’s life took an unexpected turn when her husband of 30 years started making a series of bad financial decisions.

7 minute read
– Dementia: How I lost my life savings

Why a power of attorney should be part of your retirement plans

Retirement

A power of attorney is an integral part of your financial future. Find out what makes their role so important to your financial affairs.

6 minute read
– Why a power of attorney should be part of your retirement plans

How to protect your aging parents from financial missteps

Family finances

While the potential for fraud or age-related diseases can’t be eliminated, start the conversation now with your parents to mitigate the impact.

5 minute read
– How to protect your aging parents from financial missteps

Helping the Sandwich Generation balance health care needs for their global family

Health care

Navigating health care, either in-person or online, can be a challenge for many families. Learn about preparing for health care today—and tomorrow.

5 minute read
– Helping the Sandwich Generation balance health care needs for their global family

How to pay for long-term care in a health crisis

Family finances

It may be essential to plan for unexpected health crises in order to protect the assets of parents and their adult children.

6 minute read
– How to pay for long-term care in a health crisis

Why fighting financial fraud isn’t just business for me, it’s personal

Eldercare

Financial advisors can hold a special place in a family’s life. They’re also in a unique position to identify a cause for concern.

3 minute read
– Why fighting financial fraud isn’t just business for me, it’s personal