Particle.news

Download on the App Store

Seniors’ Financial Confidence Grows With Age, Falters in Alzheimer’s

Early safeguards can protect older adults with cognitive decline from fraud without stripping away their autonomy.

Image
Image

Overview

  • A 10-year analysis of 2,800 older adults found that those without cognitive impairment saw steady gains in both perceived and actual financial abilities.
  • Participants assessed their own competence and completed tasks such as paying bills and projecting long-term costs to measure self-awareness.
  • Individuals diagnosed with Alzheimer’s experienced anosognosia, causing gaps between their perceived and actual money management skills.
  • Researchers warn that unrecognized declines in financial insight can expose older adults with Alzheimer’s to fraud, unpaid bills and other risks.
  • Study authors recommend early financial planning safeguards that preserve autonomy and plan to explore brain activity during math tasks and digital banking literacy.