The Indicator from Planet Money How your bank account might predict dementia
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May 5, 2026 
Lauren Nicholas, a health economist and geriatrics professor studying financial decline tied to cognitive impairment. She discusses how missed bills, compulsive spending and odd investments can surface years before diagnosis. The conversation covers research showing wealth drops long before detection, the role of financial professionals, and ideas for using financial signals to trigger screening.
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Daughter Finds Father’s Finances Devastated By Cognitive Decline
- Sanda Balaban discovered her father's cognitive decline after finding piles of credit card statements and scammy health purchases in his office.
- She later learned his brokerage account had lost about $1–2 million through erratic investments and unexplained charges.
Wealth Drops Years Before Dementia Diagnosis
- Lauren Nicholas's research shows household wealth begins to decline about six years before a dementia diagnosis.
- The decline appears long before standard cognitive tests would flag problems, making financial changes an early signal.
Impaired Decision Making, Not Medical Costs, Drains Wealth
- The researchers attribute the wealth decline to impaired financial decision making rather than lost income or medical costs.
- Personality shifts like increased confidence and changing risk tolerance can drive risky investments and missed payments.