The WALLET Study: Examining Early Memory Loss and Personal Finance.
Financial decision-making
Financial exploitation
Financial management
Journal
Innovation in aging
ISSN: 2399-5300
Titre abrégé: Innov Aging
Pays: England
ID NLM: 101703706
Informations de publication
Date de publication:
2022
2022
Historique:
received:
03
01
2022
entrez:
7
7
2022
pubmed:
8
7
2022
medline:
8
7
2022
Statut:
epublish
Résumé
This feasibility study tests a new approach for assessing personal finance in older persons with early memory loss. The project examines 2 primary outcomes that gauge the financial viability and well-being of older adults: wealth loss and financial exploitation. The overall objective is to determine the association of financial literacy and management, financial decision-making, and cognition with wealth loss and financial exploitation. This cross-sectional study recruited 46 participants who were 60 years of age or older. Participants were classified as having mild cognitive impairment, perceived cognitive impairment, or no cognitive impairment. The study coordinator arranged with each participant to obtain copies of their main checking account statements for 12 consecutive months within the previous 2 years and, if appropriate, credit card statements. All statements were de-identified and assigned a random ID number. Participants then completed 2 telephone interviews. The average participant age was 72 years (standard deviation [ We demonstrate an alternative method for assessing personal finance using person-centered principles, which we believe are critical in the presence of diminished or impaired cognition. Our findings offer an innovative method for assessing the risk for wealth loss and financial exploitation.
Sections du résumé
Background and Objectives
UNASSIGNED
This feasibility study tests a new approach for assessing personal finance in older persons with early memory loss. The project examines 2 primary outcomes that gauge the financial viability and well-being of older adults: wealth loss and financial exploitation. The overall objective is to determine the association of financial literacy and management, financial decision-making, and cognition with wealth loss and financial exploitation.
Research Design and Methods
UNASSIGNED
This cross-sectional study recruited 46 participants who were 60 years of age or older. Participants were classified as having mild cognitive impairment, perceived cognitive impairment, or no cognitive impairment. The study coordinator arranged with each participant to obtain copies of their main checking account statements for 12 consecutive months within the previous 2 years and, if appropriate, credit card statements. All statements were de-identified and assigned a random ID number. Participants then completed 2 telephone interviews.
Results
UNASSIGNED
The average participant age was 72 years (standard deviation [
Discussion and Implications
UNASSIGNED
We demonstrate an alternative method for assessing personal finance using person-centered principles, which we believe are critical in the presence of diminished or impaired cognition. Our findings offer an innovative method for assessing the risk for wealth loss and financial exploitation.
Identifiants
pubmed: 35795136
doi: 10.1093/geroni/igac038
pii: igac038
pmc: PMC9250658
doi:
Types de publication
Journal Article
Langues
eng
Pagination
igac038Informations de copyright
© The Author(s) 2022. Published by Oxford University Press on behalf of The Gerontological Society of America.
Références
Arch Clin Neuropsychol. 2016 Sep;31(6):541-53
pubmed: 27506235
JAMA Intern Med. 2021 Feb 1;181(2):220-227
pubmed: 33252621
J Elder Abuse Negl. 2019 Jan-Feb;31(1):25-37
pubmed: 30406729
Clin Gerontol. 2015 Jan 1;38(1):49-67
pubmed: 25866438
PLoS One. 2012;7(8):e43647
pubmed: 22916287
Am J Nurs. 2008 Apr;108(4):52-62; quiz 62-3
pubmed: 18367931
J Econ Ageing. 2019 May;13:86-101
pubmed: 31572663
Clin Gerontol. 2020 May-Jun;43(3):266-280
pubmed: 29883276
J Am Geriatr Soc. 2019 Aug;67(8):1590-1595
pubmed: 30882910
J Hum Cap. 2013 Apr 1;2013:45
pubmed: 25525476
N Engl J Med. 1988 Dec 22;319(25):1635-8
pubmed: 3200278
J Elder Abuse Negl. 2016 Jun-Jul;28(3):134-51
pubmed: 27010780
Clin Gerontol. 2018 Jan-Feb;41(1):42-65
pubmed: 29077531
Aging Clin Exp Res. 2016 Feb;28(1):99-108
pubmed: 25995167