Dementia affects a larger percentage of the population than you might think. One in 10 Americans, age 65 and older, and 1 in 7 Americans, age 70 and up, are living with the disease today, according to the Alzheimer’s Association.
Given those statistics, it’s important to recognize that it could affect you, a family member, or a close friend.
There may come a day when a loved one has been diagnosed and asks you to attend their next financial meeting with them, help manage a budget, or prepare emotionally.
Research shows that declining financial skills are among the first Alzheimer’s symptoms and that dementia is quite expensive. The Alzheimer’s Association states that this year, “Alzheimer’s and other dementias will cost the nation $259 billion,” and in 2016, “Caregivers provided an estimated 18.2 billion hours of care valued at more than $230 billion.”
Below is an infographic to help you gain knowledge on the 10 dementia types, symptoms of each, and how many people are affected as of 2017.
Know that it’s OK to talk to your financial professional about the expenses associated with dementia. Chances are that they have a substantial number of clients dealing with this every day and are ready to financially strategize for you or a loved one.
Do you have a loved one suffering from dementia? What are some of the ways you help them that you could share with others? Share your experiences below.