How your bank account might predict dementia

Sandra Balaban discovered her father's cognitive decline not through medical tests, but by sorting through piles of disorganized papers in his office, revealing unpaid taxes, scam purchases, and erratic investments that had drained his retirement savings of one to two million dollars. This personal crisis mirrors a broader pattern uncovered by new research: a person's financial well-being can begin deteriorating about six years before a dementia diagnosis, offering an early warning in bank statements and portfolios that standard cognitive tests might miss.

A Father's Hidden Decline

Balaban's stepmother emailed her in 2018 about divorcing her father, prompting Balaban to help move him out. In his office, she found chaos—unpaid credit card bills, scam products, and brokerage statements showing wild investment swings over a decade. Her father, a former physician and epidemiologist trained in preventive care, denied knowledge of the expenses and hadn't filed income taxes since 2014. Despite his intelligence, which allowed him to mask symptoms, Balaban saw clear signs of cognitive impairment. She moved him into her New York apartment and spent months reconstructing his finances, which were beyond repair. He later entered Medicaid-funded memory care and passed away in August, leaving her to handle the ongoing financial fallout.