WrapManager's Wealth Management Blog
When life changes, we can help you thoughtfully respond.

The Financial Risks of Cognitive Decline

Posted by Seton McAndrews | CFP®, Vice President Investments

September 20, 2017

When it comes to investment planning and setting up plans for life in retirement, it would be wonderful if we could just focus on growth, investment, spending, and financial security for you and your family. Those are the exciting features of planning that – while not always easy to work through – are challenges that are rewarding to solve.

But proper investment planning should also include addressing issues that are often difficult for families to discuss. One of those issues is cognitive decline.

According to State Street Global Advisors, only about 39% of investors believe they have a suitable plan if their decision-making ability becomes diminished. That number may be low because of the following statistic: while 85% of advisors report encouraging their clients to have a plan in case of cognitive decline, only 41% of investors think they actually need one.

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