Patricia A. Boyle|Lei Yu|Robert S. Wilson|Eisuke Segawa|Aron S. Buchman|David A. Bennett
Cognitive decline impairs financial and health literacy among community-based older persons without dementia.
Rush University Medical Center
literacy important determinant health wellbeing across life span critical aging many influential health financial decisions made prior studies suggest older persons exhibit lower literacy younger persons particularly domains financial health literacy reasons remain unknown objectives study examine pathways linking diverse resources ie education word knowledge cognitive function decision making style health financial literacy among older persons determine extent relation age literacy represents direct effect versus indirect effect due decrements specific cognitive functions ie executive functions episodic memory b test hypothesis declines executive function episodic memory associated lower literacy among older persons without dementia sixhundred fortyfive communitybased older persons without dementia underwent detailed assessments diverse resources including education word knowledge cognitive function ie executive function episodic memory decision making style ie risk aversion completed measure literacy included items similar used health retirement study numeracy financial concepts compound inflation knowledge stocks bonds important health concepts understanding drug risk medicare part path analysis revealed strong effect age literacy half effect age literacy due decrements executive functions episodic memory addition executive function indirect effect literacy via decision making style ie risk aversion education word knowledge independent effects literacy finally among n 447 persons repeated cognitive assessments available 14 years regression analysis supported association multiple resources literacy moreover rapid declines executive function episodic memory average 64 years prior literacy assessment predicted lower literacy scores ps 002 rate decline word knowledge findings suggest diverse individual resources contribute financial health literacy lower literacy old age partially due declines executive function episodic memory