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Relationship Between Perceived and Objective Financial Abilities Among Older Adults: Results From the Advanced Cognitive Training for Independent and Vital Elderly Cohort
Ian M. McDonough, Cuichan Lin, Kyle Rhoads Kraemer, Sheila R. Black, Kelsey R. Thomas, Lorraine Tiera Dean, Richard Norman Jones, Joshua H. Owens et al.. The Gerontologist, 2025-04-07
Topic: Risk, prevention and care in population studies
In years when older adults subjectively reported fewer difficulties with their finances, they objectively performed better at financial tasks and this relationship became stronger over 10 years. This relationship was not present for older adults with a dementia diagnosis. Age and objective cognitive impairment did not moderate the relationships. DISCUSSION AND Awareness of financial abilities is critical in an aging population bombarded by fraud and scams. Although older adults without dementia are metacognitively aware of their financial abilities, those diagnosed with dementia are more likely to experience financial anosognosia. These findings offer new insights for programs and early detection tools for dementia.
Key findings
- In years when older adults subjectively reported fewer difficulties with their finances, they objectively performed better at financial tasks and this relationship became stronger over 10 years.
- This relationship was not present for older adults with a dementia diagnosis.
- Age and objective cognitive impairment did not moderate the relationships.
- DISCUSSION AND Awareness of financial abilities is critical in an aging population bombarded by fraud and scams.
- Although older adults without dementia are metacognitively aware of their financial abilities, those diagnosed with dementia are more likely to experience financial anosognosia.
Why it matters
This study found that older adults without dementia were aware of their financial abilities, while those with a dementia diagnosis were more likely to have financial anosognosia. It offers insights for early detection tools, but it does not test any treatment, cure or prevention for Alzheimer's disease.
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Study details
- Participants2,802
- Evidence strengthLow
How this study scored 46/100
Published in a peer-reviewed journal. Scored zero for study design, effect reported and randomised / blinded because the record does not state it.
| Component | Points | Why |
|---|---|---|
| Journal tier | 7 / 10 | Tier 3 — peer-reviewed journal (The Gerontologist) |
| Journal's citation record | 2 / 4 | The Gerontologist: journal h-index 238 (OpenAlex, 2026-10-29) |
| Study design | 0 / 12 | No study design recorded — scores zero, not guessed (not stated in the record — scored 0) |
| Strength of evidence | 1 / 5 | Rated “low” in our summary |
| Peer-review validation | 10 / 10 | Peer-reviewed. Published as an article in a named peer-reviewed journal. |
| How recent | 4 / 5 | 2025 — within 3 year(s) of the newest study here |
| Sample size | 3 / 4 | 2,802 participants |
| Effect reported | 0 / 3 | No effect size reported — scores zero (not stated in the record — scored 0) |
| Studied in people | 3 / 3 | Studied in people (participant count stated) |
| Randomised / blinded | 0 / 2 | No randomisation or blinding stated — scores zero (not stated in the record — scored 0) |
| Times cited | 1 / 7 | Cited 1 times (OpenAlex, 2026-10-10) |
| Citations per year | 0 / 5 | 0.3 citations a year over 3 year(s) since 2025 |
| Impact for its field and year | 2 / 6 | Cited 1.6× the average for papers of its field and year (OpenAlex FWCI) |
| Cited by studies here | 0 / 6 | No other study in this library cites it |
| Still being cited | 0 / 4 | Cited 1 times in 2024–2026 (2026 still in progress; OpenAlex) |
| Senior author's track record | 3 / 4 | Last-listed author Sherry L. Willis: h-index 59 (OpenAlex, whole career) |
| Institution's track record | 3 / 3 | University of Washington: institution h-index 3,540 (OpenAlex) |
| Multi-centre collaboration | 3 / 3 | OpenAlex lists 10 institution(s) in 2 countries |
| Indexed in PubMed | 2 / 2 | Indexed in PubMed (PMID 40503900) |
| Free to read | 2 / 2 | Free to read |
| Total | 46 / 100 | — |
What each of these 20 components measures, and what this score is not →
Read the original
Full text: free to read — OpenAlex lists this copy as free to read: the link above (checked 6 Feb 1020).
Cite this study APA, Vancouver, BibTeX · download .bib or .ris
Built from the record alzhub holds for this paper, not looked up. Volume, issue and page numbers are not held in the record. The record's author list ends in “et al.”, so not every author is named. Check the citation against the original before you use it.
APA 7th
McDonough, I. M., Lin, C., Kraemer, K. R., Black, S. R., Thomas, K. R., Dean, L. T., et al. (2025). Relationship Between Perceived and Objective Financial Abilities Among Older Adults: Results From the Advanced Cognitive Training for Independent and Vital Elderly Cohort. The Gerontologist. https://doi.org/10.1093/geront/gnaf125
Vancouver
McDonough IM, Lin C, Kraemer KR, Black SR, Thomas KR, Dean LT, et al. Relationship Between Perceived and Objective Financial Abilities Among Older Adults: Results From the Advanced Cognitive Training for Independent and Vital Elderly Cohort. The Gerontologist. 2025. doi:10.1093/geront/gnaf125. PMID: 40503900.
BibTeX
@article{mcdonough2025-40503900,
author = {McDonough, Ian M. and Lin, Cuichan and Kraemer, Kyle Rhoads and Black, Sheila R. and Thomas, Kelsey R. and Dean, Lorraine Tiera and Jones, Richard Norman and Owens, Joshua H. and others},
title = {{Relationship Between Perceived and Objective Financial Abilities Among Older Adults: Results From the Advanced Cognitive Training for Independent and Vital Elderly Cohort}},
journal = {The Gerontologist},
year = {2025},
doi = {10.1093/geront/gnaf125},
pmid = {40503900},
url = {https://doi.org/10.1093/geront/gnaf125}
}
Studies this one cites
Referenced by this study and also in the alzhub library, so you can read them here.