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Retirement Research: Are Older People Aware of Their Cognitive Decline?

Study: Older people who are unaware of their cognitive decline are likely to suffer wealth losses.

Are Older People Aware of Their Cognitive Decline? Misperception and Financial Decision Making

Abstract: The researchers investigate whether older people correctly perceive their own cognitive decline, and the potential financial consequences of misperception. 

First, they document the fact that older people tend to underestimate their cognitive decline. 

They then show that those who experienced a severe cognitive decline, but are unaware of it, are more likely to suffer wealth losses compared to those who are aware or did not experience a severe decline. These losses largely reflect decreases in financial wealth and are mainly experienced by wealthier people who were previously active on the stock market. Our findings support the view that financial losses among older people unaware of their cognitive decline are the result of bad financial decisions, not of rational disinvestment strategies. www.iza.org/publications/dp/13725  

Symptoms of Depression Among Adults: United States, 2019 

Key findings

  • In 2019, 2.8% of adults experienced severe symptoms of depression, 4.2% experienced moderate symptoms, and 11.5% experienced mild symptoms in the past 2 weeks.
  • The percentage of adults who experienced any symptoms of depression was highest among those aged 18–29 (21.0%), followed by those aged 45–64 (18.4%) and 65 and over (18.4%), and lastly, by those aged 30–44 (16.8%).
  • Women were more likely than men to experience mild, moderate, or severe symptoms of depression.
  • Non-Hispanic Asian adults were least likely to experience mild, moderate, or severe symptoms of depression compared with Hispanic, non-Hispanic white, and non-Hispanic black adults.

Depression is characterized by the presence of feelings of sadness, emptiness, or irritability, accompanied by bodily and cognitive changes lasting at least 2 weeks that significantly affect the individual’s capacity to function

Read: Symptoms of Depression Among Adults: United States, 2019 www.cdc.gov/nchs/products/databriefs/db379.htm

Financial Access Challenges for Older Adults

The financial security of older adults varies tremendously from those who have access to bank or credit union accounts, mobile banking, and credit cards to those who may lack bank accounts entirely. COVID-19 is highlighting these gaps and its wake will strain household finances even more as banking practices and available services change. www.aarp.org/ppi/info-2020/financial-access-challenges-for-older-adults.html

Dementia data gaps and opportunities www.aihw.gov.au/reports/dementia/dementia-data-gaps-and-opportunities/contents/summary

Influenza Vaccinations among Adults 50 and Older: Slow Progress over the Past Decade www.aarp.org/ppi/info-2020/influenza-vaccinations-among-older-adults.html

States Continued To Fall Short in Meeting Required Timeframes for Investigating Nursing Home Complaints: 2016-2018 oig.hhs.gov/oei/reports/OEI-01-19-00421.asp

The Market for Reverse Mortgages among Older Americans repository.upenn.edu/prc_papers/693/

Women and Retirement: Unique Challenges and Opportunities to Pave a Brighter Future www.aging.senate.gov/hearings/women-and-retirement-unique-challenges-and-opportunities-to-pave-a-brighter-future

Save Our Social Security Now waysandmeans.house.gov/legislation/hearings/save-our-social-security-now

CMS’s Monitoring Activities for Ensuring That Medicare Accountable Care Organizations Report Complete and Accurate Data on Quality Measures Were Generally Effective, but There Were Weaknesses That Could Be Improved oig.hhs.gov/oas/reports/region9/91803033.asp

Working and Claiming Behavior at Social Security’s Early Eligibility Age Among Men by Lifetime Earnings Decile www.ssa.gov/policy/docs/workingpapers/wp115.html

EBRI IRA Database: IRA Balances, Contributions, Rollovers, Withdrawals, and Asset Allocation, 2017 Update www.ebri.org/content/ebri-ira-database-ira-balances-contributions-rollovers-withdrawals-and-asset-allocation-2017-update

Could State and Local DI Programs Shed Light on Trends in SSDI? crr.bc.edu/briefs/could-state-and-local-di-programs-shed-light-on-trends-in-ssdi/

Fiscal Year 2019 PBGC Projection Report www.pbgc.gov/sites/default/files/fy-2019-projections-report.pdf

Population aging caused by a rise in the sex ratio at birth www.demographic-research.org/volumes/vol43/32/default.htm

Revisiting the effect of statutory pension ages on the participation rate www.oecd-ilibrary.org/economics/revisiting-the-effect-of-statutory-pension-ages-on-the-participation-rate_3f430e2b-en

Differences between blacks and whites in well-being, beliefs, emotional states, behaviors and survival, 1978-2014 journals.plos.org/plosone/article?id=10.1371/journal.pone.0238919

Foot rotation and the risk of falls in older women: A cross-sectional study journals.plos.org/plosone/article?id=10.1371/journal.pone.0239065

Palliative care services in Australia www.aihw.gov.au/reports/palliative-care-services/palliative-care-services-in-australia/contents/summary

Africa Aging: 2020 www.census.gov/content/dam/Census/library/publications/2020/demo/p95_20-1.pdf

Billions in Estimated Medicare Advantage Payments From Diagnoses Reported Only on Health Risk Assessments Raise Concerns oig.hhs.gov/oei/reports/OEI-03-17-00471.asp

Antidepressant Use Among Adults: United States, 2015-2018 www.cdc.gov/nchs/products/databriefs/db377.htm

Association of Clinician Health System Affiliation With Outpatient Performance Ratings in the Medicare Merit-based Incentive Payment System jamanetwork.com/journals/jama/article-abstract/2770411

Money Can’t Buy Me Love, but It Might Buy Me Medicare: An Analysis of the Impact of a Medicare Buy-In Policy on Employers www.ebri.org/content/money-can-t-buy-me-love-but-it-might-buy-me-medicare-an-analysis-of-the-impact-of-a-medicare-buy-in-policy-on-employers

National Background Check Program for Long Term Care Providers: Assessment of State Programs Concluded in 2019 oig.hhs.gov/oei/reports/OEI-07-20-00180.asp

What Jobs Do Employers Want Older Workers to Do? crr.bc.edu/briefs/what-jobs-do-employers-want-older-workers-to-do-2/

Calibrating a Microsimulation Model of Medicare Policy Reform to Match Administrative Benchmarks for Enrollment and Spending www.urban.org/research/publication/calibrating-microsimulation-model-medicare-policy-reform-match-administrative-benchmarks-enrollment-and-spending

U.S. Decennial Life Tables for 2009–2011, Methodology of the United States Life Tables www.cdc.gov/nchs/data/nvsr/nvsr69/NVSR-69-10-508.pdf

Overlooked and Undercounted: The Growing Impact of COVID-19 on Assisted Living Facilities www.kff.org/coronavirus-covid-19/issue-brief/overlooked-and-undercounted-the-growing-impact-of-covid-19-on-assisted-living-facilities/

Key Questions About the Impact of Coronavirus on Long-Term Care Facilities Over Time www.kff.org/coronavirus-covid-19/issue-brief/key-questions-about-the-impact-of-coronavirus-on-long-term-care-facilities-over-time/

Are Older People Aware of Their Cognitive Decline? Misperception and Financial Decision Making

Abstract: The researchers investigate whether older people correctly perceive their own cognitive decline, and the potential financial consequences of misperception. 

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