One big issue for financial planners working with elderly clients is cognitive impairment. This comes into play more often than you might realize.
Sixteen percent of the U.S. population between age 70 and 89 has at least some form of mild cognitive impairment, according to a 2010 study by the Mayo Clinic. And according to U.S. government data, 5% of the population over the age of 65 has varying degrees of Alzheimer’s, with the affected percentage doubling every five years thereafter.
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