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.

11.6 million
Increasingly more common

By 2040, an estimated 11.6 million Americans will live with cognitive decline, affecting nearly all families.

2019 Alzheimer’s disease facts and figures report from ALZ.org

80 percent
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

5 years
A hefty price tag

The average nursing home stay is 5 years for a patient with Alzheimer’s—with an estimated $450,000 price tag.

Genworth Cost of Care Survey, 2019

Learn about the importance of planning for the costs associated with dementia

Download our report, Prepare for the expected, the financial impact of cognitive decline to understand the costs of Alzheimer’s disease and dementia, and connect with your financial advisor to discuss how you and your family can ease the financial burdens of your care.


Insights for cognitive decline

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Family finances

Managing the financial risks of dementia and cognitive decline

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

Read more
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Eldercare

The cost of caregiving falls disproportionately on women

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

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Health care

The impact of cognitive decline on the Sandwich Generation

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

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Health care

Four financial warning signs of dementia

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

5 minute read
Health care

What the rise of dementia may mean for your financial future

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

4 minute read
Eldercare

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

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

2 minute read
Health care

Dementia: How I lost my life savings

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

5 minute read
Retirement

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

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

4 minute read
Family finances

How to protect your aging parents from financial missteps

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

4 minute read
Health care

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

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
Family finances

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

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

5 minute read
Eldercare

Protecting the elderly from financial abuse

With the growing wave of Baby Boomers moving into retirement with significant assets, the potential for financial abuse is rising.

4 minute read
Eldercare

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

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
 

Investment and insurance products offered through RBC Wealth Management are not insured by the FDIC or any other federal government agency, are not deposits or other obligations of, or guaranteed by, a bank or any bank affiliate, and are subject to investment risks, including possible loss of the principal amount invested.

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