Consumer Advisory

For Immediate Release: October 4, 2016

Why We Should Talk About Diminished Capacity in Relation to Financial Health A topic that is difficult to talk about as we age is how to prepare for the potential of diminished mental capacity and your financial health. As the baby boomer generation continues to reach retirement and beyond, it’s certainly something that needs to be addressed. Some signs of decreased mental health can become obvious in older adults once they become overly forgetful, fail to take care of themselves physically, or are easily confused. But an aspect of diminished capacity that is less overt, though no less worrisome, can be detected in how one deals with finances. Maintaining financial health becomes difficult even when older adults are dealing with what doctors call mild cognitive impairment. Mild cognitive impairment, or MCI, involves problems with memory, language, thinking and judgment that are greater than normal age-related changes. Doctors say that MCI affects about 20%, or one in five, of those over the age of 65. While those who have MCI are not affected in most areas of daily life, it creates difficulties with even minor mathematics, like addition and subtraction, increases one’s willingness to take risks with money, and makes one even more susceptible to financial abuse by another. While friends and loved ones of an adult suffering from MCI won’t immediately notice a decline in personal hygiene, general memory function, or isolating tendencies, if we pay attention we may notice that once easy financial tasks have become difficult –for example, figuring out how much to tip at dinner. Research shows that adults with MCI are four times more likely to make mathematical errors than those without it. Additionally, an adult’s willingness to make risky investments, purchase things they really can’t afford, or give money to others greatly increases with MCI. This is a particular problem in retired adults, as they don’t have the time or ability to recoup losses. It also makes them more vulnerable to financial abuse by others, whether by caretakers, financial professionals, or strangers. And make no mistake, financial abuse affects more than one’s bank account: research shows that

seniors who are victimized by investment fraud have a mortality rate that is three times higher than those who are not abused. So what can we do to help prevent the loss of financial stability due to the effects of MCI that occur in many of us? The most important thing is to be vigilant. With ourselves and others, it’s vital that we watch for the signs that occur below the surface: does your friend or spouse seem confused when trying to perform even minor mathematics? Does he or she seem to be spending more money on frivolities? Has his or her investment style changed drastically to incorporate more risk? If you do notice these signs, it’s important to bring up the subject delicately; one of the most common reasons we hear for why seniors don’t report fraud or abuse is out of embarrassment or fear of loss of independence. It is important that if you don’t feel you can handle the conversation with someone who has these symptoms on your own that you bring in a trusted ally, whether it be a doctor, adult child, or financial professional. And, as always, if you have concerns that a friend, a loved one, or even you yourself have become the victim of fraud or abuse, report it the Securities Division by calling (303) 894-2320, or visiting our website at www.dora.colorado.gov/dos.

Diminished Capacity Consumer Advisory.pdf

worrisome, can be detected in how one deals with finances. Maintaining financial health becomes. difficult even when older adults are dealing with what doctors ...

225KB Sizes 0 Downloads 155 Views

Recommend Documents

The Diminished Capacity and Diminished ...
Published by: Columbia Law Review Association, Inc. Stable URL: ... I wish to express my deep appreciation to my colleagues, Professors Pomorski, Claik, ...... In affirming this judgment, the California Supreme Court endorsed the ad-. 69.

Diminished Capacity Presentation for Website.pdf
There was a problem previewing this document. Retrying... Download. Connect more apps... Try one of the apps below to open or edit this item. Diminished ...

Undiminished Confusion in Diminished Capacity ...
Jun 8, 1982 - ... their work and the materials they rely upon, and to build a common research platform that ...... the rich development of mental defense doctrine in that state. ..... Limiting the doctrine's application to the crime of murder makes.

Ergodic Capacity and Outage Capacity
Jul 8, 2008 - Radio spectrum is a precious and limited resource for wireless communication ...... Cambridge, UK: Cambridge University Press, 2004.

africa capacity 201 report 4 - The African Capacity Building Foundation
Dec 3, 2014 - year the focus is on the capacity imperatives for regional integration, a core mandate of the ACBF, and on the ...... policies for aid effectiveness; and the degree of inclusiveness ...... based products, automotive, e-commerce,.

africa capacity 201 report 4 - The African Capacity Building Foundation
Dec 3, 2014 - ... form or by any means, electronic, mechanical, photocopying recording or otherwise, without prior written permission. ...... ECCAS. EAC is the most advanced, launching its ..... ACR's primary index and its signature trademark ...

Capacity component -
Dec 1, 2016 - Draft JAO/DAO on biodiversity tagging formulated. • Draft DAO on recommended modes of. PPP for biodiversity conservation. • DAO on establishment of PPP unit in. DENR signed and implemented. • “Establishment of a Carbon. Sequestr

California Department of Consumer Affairs Consumer Connection ...
License Plate campaign, sponsored by the Veterinary Medical Board, one .... required 7,500 sign-ups in 12 months, so the Legislature passed a law to allow 12 more .... open sores or skin wounds are present (including insect bites, scratches, scabbed-

160725_final capacity appendix_low_WEB.pdf
public realm, an enhanced retail and dining offer and a strengthened employment. role. Realising the broad vision set for Sutton Town Centre will be necessary ...

T.A.C. Consumer
5016 [email protected]. กรัณย์อินทร์ชัย. Renewable Energy. 662-659-7000 ext. 5010 [email protected].

Capacity Calculation Methodology.pdf
student for estimating purposes), library / media center, dance/aerobics, weights, wrestling, dining, commons, modular /. temporary classrooms, administration ...

volume and capacity -
::r 3. =. ::J tn. 3 ": e. cE. ::J Pl co e-. < 0 o c:: •...•. c:: 0. 3 0. (1). ::J ..-.. 00 o CD. -+t ...... CD 0 a.;::+0:J. ~_::rC:r-+. "U r-+. -. ..,. 0. O _. "" r-+. _. o CD ::r :J. C:J coco en ..,.

SSD Capacity Summary.pdf
Retrying... Download. Connect more apps... Try one of the apps below to open or edit this item. SSD Capacity Summary.pdf. SSD Capacity Summary.pdf. Open.

Capacity Markets Presentation.pdf
Whoops! There was a problem loading more pages. Capacity Markets Presentation.pdf. Capacity Markets Presentation.pdf. Open. Extract. Open with. Sign In.

Consumer Access - Company
Prior Other Trade Names: Android Pay; Google Checkout. Prior Legal .... Status : Approved Status Date: 10/03/2013 Renewed Through: 2017. Other Trade ...

consumer confidence
compared with the rest of Europe, is contributing to the confidence of German consumers,” said Ingo Schier, managing director, Nielsen. Germany. “The capital markets are also stabilizing at present, which is demonstrated by the upward trend of th

TAC Consumer - Settrade
7-Eleven. ▫. 4Q16 21%qoq 7-Eleven Sanrio. ▫. FY17F 50%yoy 150 7-. Eleven. ▫. 9.8 DCF 7.5%. 4Q16F 27 97%yoy 21%qoq. 7-Eleven,. All Café A smile Zenya.