Alzheimer’s: A Threat We All Need to Fight

If you have clients suffering from Alzheimer’s disease, or if you have a loved one battling this illness, you’re already familiar with the emotional, psychological and financial costs associated with this dreaded disease. Nonetheless, you might be interested in some stark facts emerging from The Four Pillars of the New Retirement, a thought leadership study that Edward Jones developed with Age Wave, a research firm specializing in aging, retirement and longevity.

• Alzheimer’s disease is the most feared health condition of later life, ranking higher than COVID-19, cancer, heart attack, and stroke.
• In 2020, approximately 5.8 million people 65 and older suffer from Alzheimer’s. This number is expected to double by 2040.
• 72 percent of retirees say that one of their biggest fears is becoming a burden on their families. Yet 73 percent also say they would rely on children or stepchildren if they needed long-term care.
• Almost 70% of those who plan to retire in the next 10 years say they have no idea what their healthcare and long-term care costs will be in retirement.
• The pandemic has raised awareness of the need to discuss Alzheimer’s and other terminal conditions. In fact, COVID-19 has prompted 27 million Americans to have end-of-life discussions for the first time.

Clearly, these are sobering statistics – and they especially resonate for those of us in the financial services industry. As we take a holistic approach to helping our clients, we need to ask the right questions of our clients, such as these: Are you prepared for the increasing costs of healthcare as you age? Have you taken the steps to maintain your financial independence in case you need some type of long-term care? Have you created the estate plans necessary to leave the type of legacy you desire? And most importantly, have you discussed those plans with your family?

At Edward Jones, we are doing our part to help combat Alzheimer’s. As part of our efforts, I’ll be representing our firm at the annual Alzheimer’s Association International Conference (AAIC), held July 27 -31. This conference, originally scheduled for Amsterdam, has been moved to a virtual platform, but it will still bring together international Alzheimer’s and dementia researchers, clinicians and caregivers online to discuss the latest studies, theories and discoveries that will help bring the world closer to breakthroughs in treatment and cure.

Expanding our commitment

Edward Jones’ commitment to fighting Alzheimer’s is also expanding. We have renewed our strategic alliance with the Alzheimer’s Association, committing $25 million over the next five years, matching what already was raised by Edward Jones, our associates and communities since launching the alliance in 2016. The total investment, over the course of 10 years, is the largest commitment ever pledged by a corporate partner to the Alzheimer’s Association. And our financial advisors and associates have also contributed countless volunteer hours to various Alzheimer’s-related activities.

Join us for our virtual broadcast

Edward Jones Managing Partner Penny Pennington, Alzheimer’s Association President and CEO Harry Johns, and I will highlight accomplishments and discuss future goals of this alliance during a virtual broadcast at 3 p.m. CT on July 30. All are welcome to view the broadcast by going to www.edwardjones.com/alz.

There’s no cure yet for Alzheimer’s, and it’s going to be a tough fight for the foreseeable future. But working together, we can make a difference.