Safeguarding Your Wealth From the Effects of Cognitive Decline
Some degree of cognitive decline is inevitable for most. Contributor Mark Miller outlines steps to take today to protect your assets.
The aging brain isn't well-suited to financial decision-making.
A growing body of research shows that cognitive decline starts to reduce our ability to make good decisions about credit in our mid-50s, and our investing decision-making skills fall significantly after 70. More than half of the U.S. population over age 85 suffers from some level of cognitive impairment, according to research by the Center for Retirement Research at Boston College. Within that group, 27% have dementia and another 37% have some level of mild cognitive impairment.