Scientists reveal misconceptions of older people that precede dementia

Ian McDonough of the State University of New York and other scientists have concluded that misjudging one's ability to handle money may be a sign of an increased risk of dementia.

The researchers say that a decline in financial literacy was not in itself a sign of dementia, but rather if older adults continued to believe they were capable of making good financial decisions. Those who were aware that they were managing their money worse were not prone to dementia.

Experts analyzed information on 2,802 elderly Americans.

The scientists suggest their work is important in understanding why some older people are particularly vulnerable to fraudsters trying to steal their money.

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