Planning resources for caregivers and their loved ones
Cognitive decline affects millions and it can cost hundreds of thousands of dollars.
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
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
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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More than 16 million Americans provide unpaid caregiving to someone with dementia, and that number will only continue to increase.
Women tend to be the primary caregivers for aging parents and spouses. Nearly two-thirds of dementia caregivers in the United States are female.
A new study found the cost of care and disruption to careers can cost caregivers in the Sandwich Generation up to $750,000.
How can you tell if someone is suffering from dementia? Here are four warning signs that can signal diminishing capacity.
If you or a loved one is diagnosed with any form of dementia, the financial stakes are high.
A power of attorney is an integral part of your financial future. Find out what makes their role so important to your financial affairs.
While the potential for fraud or age-related diseases can’t be eliminated, start the conversation now with your parents to mitigate the impact.
It may be essential to plan for unexpected health crises in order to protect the assets of parents and their adult children.
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