Recognizing the signs of cognitive decline in managing money

  • Increased anxiety about money and changes in perception of investment risk are signs that a senior may need financial help
  • Problems with everyday math and a reduced attention span for completing everyday financial tasks are key signs that a senior may need financial help
  • Reduced memory and attention span can be a sign of cognitive loss
  • Problems with everyday arithmetic can indicate declining mental capabilities
  • A declining sense of investment risk or abnormal fear of it can indicate cognitive changes

Managing money in old age can become challenging, and it’s important to recognize the signs that seniors may need financial help. Increased anxiety about money and changes in perception of investment risk are key indicators. Problems with everyday math and a reduced attention span for completing financial tasks are also signs that assistance may be needed. Reduced memory and attention span can be a sign of cognitive loss, while problems with everyday arithmetic can indicate declining mental capabilities. Additionally, a declining sense of investment risk or abnormal fear of it can indicate cognitive changes. It’s important to seek help and have a physician perform a cognitive assessment to rule out treatable afflictions that may masquerade as cognitive decline.

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Key People: Milo Benningfield (San Francisco financial advisor), Dr. Luke Stoeckel (Program Director, Division of Behavioral and Social Research, National Institute on Aging, National Institutes of Health), Dr. Daniel Marson (Professor Emeritus, Department of Neurology, University of Alabama at Birmingham), Susan Elser (Indianapolis advisor)

Factuality Level: 7
Justification: The article provides information from financial advisors and neuroscientists about signs that a senior may need financial help. The information is based on expert opinions and research on cognitive decline. However, the article does not provide specific sources or references for the research mentioned.

Noise Level: 3
Justification: The article provides relevant information on signs that a senior may need financial help and discusses cognitive decline and its impact on financial decision-making. It includes insights from neuroscientists and financial advisors. However, the article lacks scientific rigor and intellectual honesty as it does not provide any references or data to support its claims. Additionally, it does not provide actionable insights or solutions for readers.

Financial Relevance: No
Financial Markets Impacted: No

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article does not pertain to financial topics and does not describe any extreme events.

Reported publicly: www.marketwatch.com