Dementia poses threat to aging boomers’ portfolios

A startling number of older adults either lack the cognitive abilities to manage their finances or delegate that responsibility to others — a finding that could have implications for plan executives and other fiduciaries as a wave of wealthy Americans approach retirement.

In a soon-to-be published re-search paper, “The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation,” David Laibson, a professor at Harvard University and noted expert in behavioral economics, found that the prevalence of dementia among Americans “explodes” after 60, doubling every five years to more than 30% of the population over 85.

via Dementia poses threat to aging boomers’ portfolios – Investment News.

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