Older adults' willingness to give money is linked to declining cognitive function, according to an NIA-funded study published in the Journal of Alzheimer's Disease. The results suggest that an increase in this behavior, known as financial altruism, may be linked to the early stages of Alzheimer's disease. The study was led by a team of researchers from the University of California, San Diego; the University of Southern California; Rush University Medical Center (RUSH); and Bar-Ilan University (Israel).
Older people make many important decisions about their finances, including budgeting for retirement income, using savings, and transferring wealth and assets. In addition, research has shown a link between older age and increased altruistic behaviors, such as charitable giving. While intentional generosity is not a negative trait, findings suggest that increased altruistic behaviors may be associated with cognitive decline in certain contexts. Problems with money management and financial decision-making may also be among the first signs of Alzheimer's disease. Furthermore, older people tend to be more susceptible to financial abuse, fraud, and marketing scams than younger or middle-aged adults.
Previous research on financial altruism and cognitive function has relied on self-report measures such as responses to questions involving hypothetical scenarios of giving money. In contrast, the current study explored this relationship using actual money and decision-making on the spot. The study included 67 participants aged 50 and older (average age 69) with no prior diagnosis of dementia or cognitive impairment. Altruism was measured using a test developed by the researchers called the “Altruism Choice Paradigm.”
Each participant was paired with another person, referred to as Person B, who was taking part in the study anonymously online. Each participant was told that they would receive $10 for participating in the study; however, they could send some of that money to Person B. Participants were asked to choose any additional dollar from $0 to $10 to give to Person B. Their choice was recorded on a scale from least altruistic ($0) to most altruistic ($10). Participants then completed a series of cognitive tests that assessed memory, language, and recall.
The results showed that greater altruism was associated with lower performance on cognitive tests that are linked to areas of functioning that show early changes attributed to Alzheimer's disease. This information could help family members and caregivers protect older adults from the risks of financial mismanagement and financial abuse, fraud, and scams. Clinicians may also use this knowledge to improve early detection of Alzheimer's disease by paying attention to increased financial generosity in their patients.
However, it is important to note that the study participants did not have cognitive impairment or Alzheimer's and did not report any changes or decline in cognitive function. Other limitations of the study include the fact that the participants were mostly white and had high levels of education. While the findings add to previous research suggesting that problems with money management may be an early sign of Alzheimer's, more research—such as longitudinal studies with larger, more representative samples—is needed to confirm the link between financial altruism and Alzheimer's disease.
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