Early intervention treatments for ADRD are less effective when the disease has progressed to later stages
Financial missteps exacerbate financial pressure upon diagnosis
Increase in missed credit card payments begins more than five years prior to diagnosis and mortgage delinquency starts three years prior
Missed bill payments could be an early predictor of Alzheimer's disease and related disorders (ADRD)
Multiple daily bank withdrawals and out-of-character purchases could indicate undiagnosed dementia
Studies link credit score declines to cognitive decline in older adults
In a series of studies, researchers from Georgetown University, the National Institute on Aging, and institutions affiliated with the Federal Reserve System have linked credit score declines to cognitive decline in older adults. The studies suggest that financial missteps like missed bill payments could be an early predictor of Alzheimer's disease and related disorders (ADRD), helping to detect the disease before major memory problems become apparent.
The harmful financial effects of undiagnosed ADRD exacerbate the already substantial financial pressure households face upon diagnosis. Researchers have found that in the period leading up to a diagnosis, credit outcomes noticeably deteriorate. For instance, an increase in missed credit card payments begins more than five years prior to diagnosis and mortgage delinquency starts three years prior.
Multiple daily bank withdrawals and out-of-character purchases could also indicate as-yet-undiagnosed dementia. A study by the New York Federal Reserve found that individuals with undiagnosed memory disorders may have difficulty opening new accounts or accumulating debt.
Early intervention treatments for ADRD are less effective when the disease has progressed to later stages. Catching Alzheimer's early is crucial from the standpoint of mental capacity, elder care, and estate planning. Therefore, it is essential to be aware of these financial warning signs and encourage regular check-ups for older adults.
New York Federal Reserve researchers found that in the five years before a dementia diagnosis, a person’s credit scores may start to weaken and payment delinquencies rise.
Individuals with undiagnosed memory disorders may have difficulty opening new accounts or accumulating debt.
Accuracy
]New York Federal Reserve researchers found that in the five years before a dementia diagnosis, a person’s credit scores may start to weaken and payment delinquencies rise.[
Financial disarray, such as late payments and out-of-character purchases, can be early signs of dementia.
Deception
(80%)
The article provides several examples of financial mistakes made by individuals with undiagnosed dementia. While the author does not make any editorializing or pontificating statements, she does use emotional manipulation by describing the financial struggles and hardships faced by families dealing with a loved one's dementia diagnosis. The article also reports selectively on studies that support the author's position without mentioning any contradictory findings. However, these instances of deception do not significantly impact the overall credibility of the article.
Researchers at the New York Federal Reserve who analyzed both US credit reporting and Medicare data found that in the five years before a dementia diagnosis, a person’s average credit scores may start to weaken and their payment delinquencies rise.
For example, Tidwell said, her mom used to keep an immaculate record of checks written and deposits and withdrawals made in her checkbook register. But that register became a mess.
Her father was a former finance executive who was very conservative with his money, very smart about it and never reckless with it. Yet he had owed $50,000 in charges, interest and late payment fees on a Visa card.
What’s more, his daughter noted, he failed to pay his 2021 taxes. So he ended up owing the government roughly $20,000, the bulk of which was for late payment and underpayment penalties.
Missing numerous bill payments can damage a person’s credit score and could also signal a much bigger problem: damage to the brain from Alzheimer’s disease.
Early intervention treatments for Alzheimer’s are less effective when the disease has progressed to later stages.
A new study suggests that, for older adults, a credit score decline could signal cognitive decline and is linked to dementia.
In the period leading up to a diagnosis of Alzheimer’s disease and related disorders (ADRD), credit outcomes noticeably deteriorate, with an increase in missed credit card payments beginning more than five years prior to diagnosis and mortgage delinquency starting three years prior.
Financial missteps like missing routine bill payments could be an early predictor of Alzheimer’s that helps to detect the disease before major memory problems are apparent.
Accuracy
]A new study suggests that, for older adults, a credit score decline could signal cognitive decline and is linked to dementia.[
Early intervention treatments for Alzheimer's are less effective when the disease has progressed to later stages.
Money matters may be a leading indicator of Alzheimer's because financial management is cognitively challenging.
Deception
(100%)
None Found At Time Of
Publication
Fallacies
(95%)
The article makes several assertions that missing payments could be a sign of Alzheimer's disease. This is an appeal to causality fallacy as the cause-effect relationship between missing payments and Alzheimer's has not been scientifically proven. The author also uses inflammatory rhetoric by stating 'The results can be devastating as the disease progressively destroys memory and functional skills.' which is an emotional appeal to evoke fear in readers.
]The financial consequences can be greater.[/
Credit scores start to go down and payment delinquencies start to go up in the years preceding a memory disorder diagnosis.
It is becoming increasingly clear that financial missteps like missing routine bill payments could be an early predictor of Alzheimer's that helps to detect the disease before major memory problems are apparent.
Bias
(95%)
The article does not demonstrate any clear bias towards a specific political, religious, ideological or monetary position. However, it does make a connection between financial mismanagement and Alzheimer's disease which could potentially be seen as implying that those with financial difficulties are more likely to develop Alzheimer's. This is not an unfair or biased statement as such a connection has been supported by research mentioned in the article.
Credit scores consistently decline, quarter by quarter, and probability of delinquency consistently increases as diagnosis approaches.
Significant limitations and rapid declines in financial capacity are a hallmark of patients with early-stage Alzheimer's disease.
