Cognitive Decline and the Impact on Your Finances

Ep 056: Today's topic is something we have touched on here and there within our podcast - Cognitive Decline as we age. We think it’s something almost everyone worries about as we age - for our spouse and ourselves! So recently, our connections at Vanguard shared with us a new Vanguard whitepaper – "The Risk of Cognitive Decline: Investors' perception and preparation". It really addresses a lot of questions that we hear daily from clients and our listeners of this show. Today's guest is a Senior Investment Strategist with the Vanguard Investment Strategy Group. She has a B.A. in sociology from the University of the Philippines Los Banos, an M.A. and Ph.D. in sociology and demography from The Pennsylvania State University and was a postdoctoral fellow at the Carolina Population Center. She also authored the before mentioned whitepaper – “The Risk of Cognitive Decline: Investors' perception and preparation”, please welcome Anna Madamba, Ph.D. to The Retirement Success in Maine Podcast! Chapters: Welcome, Anna Madamba! [2:22] How is cognitive decline defined? [10:25] How do investors perceive their risk of cognitive decline? [16:56] Who is likely to be named an agent in the event of cognitive decline? [21:16] When should someone transfer control over their affairs? [33:16] How should DIYers structure the management of their financial assets in the event that they experience a decline? [50:53] What is Anna’s personal definition of Retirement Success? [1:00:10] Ben and Curtis wrap up the conversation. [1:02:26]