393: How Dementia and Cognitive Decline Increases the Need for a Comprehensive Longevity Plan with Chris Heye, PhD

Today, I’m speaking with Dr. Chris Heye, CEO and Founder of Whealthcare Solutions and Whealthcare Planning. Chris is an entrepreneur, writer, researcher, and speaker working in the unique intersection of physical, behavioral, mental, and financial health.  His specialty is longevity and cognitive decline risks in retirement, and today’s conversation is all about the conversations you need to have with your financial advisor, your estate planning attorney, and even with yourself in order to prevent elder financial abuse. In this episode, Chris and I dig into the experiences with dementia that led him to pursue his career path, how cognitive decline directly impacts one’s ability to make sound financial decisions, and when to start making emergency plans to protect yourself, your family, and your legacy. In this podcast interview, you’ll learn: Why elders suffering from cognitive decline lose millions of dollars every year. How psychiatrists and other specialists define cognitive decline and the associated conditions–and how this leads to impulsive behavior and overconfidence. Why we’re still so far away from a cure for Alzheimer’s and other forms of dementia. How to put together a team to help take over your financial decision making if and when the time comes–and how to have the important conversations with your family members who don’t want to talk about it.  Why it’s never been more important to stay active, maintain meaningful relationships, take on new challenges, and surround yourself with people you love late in life.  How Medicare and Medicaid do (and don’t) help with long-term care. Show Notes: RetireWithPurpose.com/393 Rate & Review the Podcast: RetireWithPurpose.com/review Sign Up to Casey's Weekend Reading Email! Sifting through the copious amount of conflicting financial advice and retirement information can be daunting - but it doesn't have to be! Each week, Casey makes it super easy. He hand-picks 4 of the most important articles you need to read, that are beneficial to you whether you're at, near, or in retirement! If you want them sent straight to your inbox, sign up by visiting RetireWithPurpose.com/weekend-reading