Alzheimer's Study And Financial Planning

A recent study is advising us all and not just families with alzheimer's to be more proactive in financial planning .

The study compared families with a history of alzheimer's to those without the disease and found that those families with a history of the disease do more financial planning.

Alzheimer is a non-fatal disease, it is the most common form of dimentia. A patient with alzheimer's can live for years requiring years of institutional care.

The financial burden on these patients and their family members can force family members to do what it takes to relieve the burden.

This burden forces families to seek financial advice, they are often concerned about financial and retirement planning, and would seek professional advice.

According to a recent study this could explain why families with a history of alzheimer's:

1. Are 86% more likey to get expert financial advice.

2. Are 40% less likely to retire before 65

When compared to families with heart disease and cancer they do better at financial planning, they are more optimistic about their future.

Patients with breast cancer are usually less optimistic, which has been linked to a certain level of denial about financial planning.

The advice to all is to make financial planning an important aspect of planning for the future.

The researchers advise that people with low confidence about their financial situation in retirement should be proactive and that would be a sea change in our culture.”

The author of the study believes that "everyone needs a realistic estimate of what they will need for retirement and a plan to help them meet those needs." Individuals with serious illnesses and chronic diseases must do more.

To read about the study and the professional advice, Click Here.

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