But according to new research from LIMRA, there may be something else to fear: Cognitive decline. According to an April 2026 report, cognitive decline is becoming a greater risk for adults aged 65 and older. And those risks come at a high price. LIMRA says that this decline can cost "the average household wealth losses of roughly $124,000" through things like missed payments, poor financial decisions, and even fraud. Fortunately, these experts say that early awareness of this issue could be the key to avoiding it. Here's what they say you need to know about aging and money management.
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"During deep sleep, the brain performs essential maintenance tasks, such as clearing waste products, consolidating memories, and regulating emotional functioning," Dr. Meers says. "Over time, consistently inadequate sleep doesn't just leave you feeling fatigued; it can gradually affect the cognitive abilities you'll rely on as you age."
What are Some Early Warning Signs of Financial Cognitive Decline
Difficulty comparing options Increased impulsive spendingTrouble following complex financial informationBecoming more susceptible to high-pressure sales tactics
That last point is an important one, according to Dr. Meers, because she says financial scammers are particularly skilled at exploiting these subtle vulnerabilities.
How Can You Protect Your Finances from Cognitive Decline
One of the most effective safeguards you can create to keep your money protected involves establishing protective systems before they are needed. "Automated savings, predetermined spending guidelines, and involving a trusted family member, financial advisor, or attorney can provide valuable protection later on," Dr. Meers says.
"Our research across 13,500 wealthy families in 18 countries suggests this approach has a fundamental flaw: The people you trust most with your finances are statistically the most likely to act in their own interests when you become vulnerable," she says, adding that the most effective safeguard "is a documented, automated, tamper-proof system that transfers the right financial information to the right family members at the right moment without any human intermediary who can be pressured, corrupted, or simply negligent."
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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