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Someone in the world develops dementia every 3 seconds.

-Alzheimer’s Disease International

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Changes to our brains are a normal part of aging. In fact, nearly half of all older adults now die with a diagnosis of dementia. Creating a circle of care around those we love is critical to helping them live out their best lives, free from challenges in their daily living and free from worry about falling for scams and exploitations.

If dementia or cognitive decline has affected a loved one, reach out and schedule a free care consultation call for advice on how to handle care moving forward.

Dementia doesn’t merely start and end with an individual forgetting names or retelling a story moments after telling it the first time. Dementia can lead to poor financial management and susceptibility to financial scams

According to a December 2020 study by Lauren Hersch Nicholas of the Johns Hopkins Bloomberg School of Public Health and others, Alzheimer disease and related dementias were associated with adverse financial events starting years prior to clinical diagnosis that may become more prevalent after diagnosis.

The study, which included over 81,000 individuals, concluded that those affected by dementia were at a significantly higher risk of payment delinquency compared to those unaffected by dementia. Similarly, they were more likely to have subprime credit scores.

Further, the Alzheimer’s Association points out that those affected by dementia are at higher risk of scams, fraud, and crime.

This is why it is so critical to connect and communicate with your family in order to monitor your loved one’s well being, keeping them both physically and financially sound as they age.

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To get ahead of the problem, connect on WayWiser today.

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WayWiser is building a proprietary financial management platform specifically for caregivers. It allows approved users to monitor their loved one’s bank and credit accounts, track spending patterns, and keep a watchful eye on key financial metrics with the ultimate goal of keeping them financially sound and protected from scams, fraud, and exploitation as they age.

Additionally, WayWiser’s financial management platform allows you to track spending, manage receipts, and reimburse family members and paid-caregivers for any out of pocket expenses.

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