The much more positive news is on the proactive measures. It turns out that we have more control over our cognitive aging process than previously thought. The scientific evidence behind this statement comes from the theory of cognitive reserve. Cognitive reserve is the extent to which we use our brains efficiently and flexibly. In other words, the ability to maximize the brain we have right now. The theory was developed to explain why some older adults maintain good cognitive function despite having moderate to severe neuropathology in their brains. Numerous studies support the theory that high cognitive reserve can help compensate for age-related brain changes and even neuropathology that leads to Alzheimer’s disease.
Preserving Financial Autonomy: The Role Of Cognitive Function
August 5, 2022
Your clients can build up their cognitive reserve by doing certain types of everyday activities, such as hobbies that engage their minds and regular physical exercise. Indeed, doing activities that boost cognitive reserve are part of the recommended guidelines by the National Institute on Aging. Alzheimer’s Association and even AARP. These activities can be anything from learning a new skill, practicing mindfulness, or doing games that require your brain to work quickly. Indeed, the best thing your clients can do is regular cardiovascular exercise. Philip Marshall noted that it makes smart business sense for financial advisors to offer this information to their clients because it can solidify their relationship with clients and possibly the client’s next of kin. Peter Johnson, of PW Johnson Wealth and Legacy agreed that “the best results are grounded in building a support culture within and between families and their trusted professionals.”
The key here is that your clients should implement these cognitively boosting activities proactively, ideally in their 40s or 50s. What your clients do at midlife has a large impact on their cognitive function in their 70s, 80s and 90s. Your clients can start being strategic about their everyday activities and transform these cognitively boosting activities into long-term habits.
These habits can build up cognitive reserve and help maintain good cognitive function—and preserve financial autonomy—during the retirement years. The need for the finance industry to play a protective and proactive role when in comes to their clients’ cognitive function is clear. Philp Marshall, whose grandmother, Brooke Astor, suffered from Alzheimer’s and was financially abused states it succinctly: “The financial industry is playing a leadership role in protecting seniors’ net worth and understanding cognitive capacity is critical to this.”
Quinn Kennedy, Ph.D., is the director of aging research at neuroFit.
« Previous Article
| Next Article »
Login in order to post a comment