Alzheimer’s early warning signs and how to prepare

At Edward Jones, our goal is to know our clients so they feel understood, informed, in control and secure.

Your financial advisor works to understand your financial and life goals so they can help you prepare for whatever is ahead — staying invested and on track no matter what life brings.

One unexpected event that impacts families and finances is Alzheimer’s disease:

• More than 7 million Americans are living with Alzheimer’s, and nearly 12 million are serving as unpaid caregivers.¹
• It’s estimated that about 300,000 Edward Jones clients are living with Alzheimer’s or another dementia.²
• Alzheimer’s is one of the costliest diseases, with a lifetime cost of care at over $400,000.¹

This disease can rob families of their relationships and their wealth — two things Edward Jones works hard to help clients preserve.

Since 2016, Edward Jones has proudly served as the National Presenting Sponsor for the Alzheimer’s Association® Walk to End Alzheimer’s®, which takes place in more than 600 communities each year. Since then, nearly 128,000 participants have walked under the Edward Jones banner and helped contribute more than $54 million for Alzheimer's care, support and research.

The Edward Jones Alzheimer’s research fund supports studies at Washington University in St. Louis that are focused on increasing clinical trials to understand inherited Alzheimer’s disease. The firm also helps support a 24/7 helpline at 844-440-6600 for anyone affected by this disease.

10 early signs and symptoms of Alzheimer’s and dementia

 

Memory loss that disrupts daily life Challenges in planning or solving problems Difficulty completing familiar tasks Confusion with time or place Trouble understanding visual images and spatial relationships

New problems with words in speaking or writing Misplacing things; unable to retrace steps Decreased or poor judgment Withdrawal from work or social activities Changes in mood or personality

Source: Alzheimer’s Association, alz.org/alzheimers-dementia/10_signs.

How you can prepare financially

Edward Jones recommends everyone age 50 or older develop a long-term care plan. If you have a family history of or risk factors for Alzheimer’s, having a plan can be even more important.

Your plan could include self-insurance — or paying the costs out of pocket — purchasing insurance or a combination of the two. If you want to purchase insurance for long-term care, planning earlier is important because: 

• Your health may be better, which would make it more likely to obtain coverage and at lower premiums.
• You’ll have more time to spread out premiums, which can make them more affordable.
• You may still be working and better able to afford the premiums.

Planning early also gives you more time to discuss your care and aging preferences with your loved ones.

Our general recommendation is to plan for between $50,000 and $300,000 of long-term care expenses. If you believe you are at risk of developing Alzheimer’s, we suggest you plan for the higher end of this range to address costs that traditional health insurance won't cover.

Other factors to consider include:

• Your overall health and lifestyle
• Whether you’ll expect to receive at least some unpaid or informal care (e.g., spouse, children, etc.)
• Your family history of longevity
• The type of care you’ll want or need (e.g., nursing home vs. home health care)
• Where you live (costs can vary by area)

And don’t forget to factor in inflation since you are planning for care many years before you might actually need it.

How Edward Jones can help

Alzheimer’s has devastated many families and their finances — but you can be aware and be prepared. Based on your individual situation, your Edward Jones financial advisor can discuss your options to cover long-term costs and help you determine which is most appropriate for you. Together, you can put a long-term care strategy in place that fits your needs now and in the future.