Technology continues to evolve, and individuals evolve with it, as they become familiar with each update and new device. Baby boomers are no exception, as many have turned to online banking and investing to plan for their retirement living. This may become a problem as the likelihood of suffering from dementia increases as people age, and the question of who will be taking care of finances if that were to happen comes into play, according to the Montreal Gazette.
Planning for retirement is something that every person needs to do, but it's important to keep in mind that other people should be informed of their wishes in case they fall ill, according to the media outlet.
"Just when the likelihood of developing dementia soars dramatically, a person's net worth is almost most likely to have reached its pinnacle," Tina Di Vito, head of the BMO Retirement Institute, told the news source.
According to the Alzheimer's Association, there are approximately 5.4 million Americans who suffer from Alzheimer's disease. Many may need home care or may move to a retirement living community in order to receive the care and attention they need.