Mounting evidence suggests that irresponsible financial behavior in older adults may be an early warning sign for health complications. A cutting-edge investigation by New York Federal Reserve researchers has drawn a definitive connection between deteriorating fiscal responsibility and the onset of dementia . Their study, which meticulously cross-referenced U.
S. credit reports with Medicare data, found those who would later develop dementia showed weakened credit scores and heightened payment delinquency long before their condition was clinically recognized. In their own words: "The harmful financial effects of undiagnosed memory disorders exacerbate the already substantial financial pressure households face upon diagnosis of a memory disorder.
" Early signs of dementia: Four subtle signs that can be spotted in walking patterns FDA approves new Alzheimer's drug that 'slows progression by 22%' They further suggest: "Our findings substantiate the possible utility of credit reporting data for facilitating early identification of those at risk for memory disorders." According to Alzheimer's Association, close to 7 million Americans grapple with Alzheimer's, 73 percent of whom are over the age of 75. Impacts are projected to surge with the number expected to double by 2050.
The research team – Carole Roan Gresenz, Jean M. Mitchell, Belicia Rodriguez, R.Scott Turner, and Wilbert van der Klaauw – posits that this correlation could lay the groundwork for using credit report data a.
