jack broyles alzheimer's tsunami revised 5-8-13 - ymcdn · title: microsoft powerpoint - jack...

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Copyright © 2010 John F. Broyles


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Section:

1. What is Alzheimer’s Disease?

2. What do I need to know about Alzheimer’s Disease?

3. What are the costs of Alzheimer's Disease.

4. Steps advisors take to help clients prepare financially.

FINRA Rule 2310 – Diminished capacity and elder abuse.

Copyright © 2010 John F. BroylesFilm created by: David Shenk

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Brain of a Normal Person Brain of an Alzheimer's Patient


Normal Brain Alzheimer’s Brain

Red areas denote highest activity

Blue areas denote lowest activity


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A person does not get AD, a family does.

AD is a long term, very emotional, very expensive and always fatal disease.

The disease is progressive in nature, be prepared for cost to increase every year.

AD and other dementias cost Americans more annually than any other condition, even more than heart disease and cancer.

1 in 10 Americans have a family member with Alzheimer’s

1 in 3 Americans know someone who has Alzheimer’s

Age is the number one risk factor

1 in 9 people 65 years of age and older have Alzheimer’s

1 in 3 people 85 years and older have the disease

Affects 5.2 million Americans nowExpected to be 16 million by 2050


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450,000 people will die this year with Alzheimer’s and related Dementia in the US

Every 68 seconds someone receives a diagnosis

6th Leading cause of Death in the US

Between 2000 and 2010, the death rate increased by 68%

76% of everyone diagnosed is cared for in a home environment


1 out of 7 with the disease live alone That’s 742,857 people right now

Increased risk of:

FallingWandering

Living with untreated medical conditions

Accidental death

Poor hygiene

Inadequate clothing or housingCopyright © 2010 John F. Broyles

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When working with seniors, it is important to be aware of some other potential concerns that may affect your senior clients. As the population of senior investors continues to grow, issues such as diminished mental capacity and elder abuse may become a bigger part of an advisor’s relationship with their senior clients. Some potential red flags may include:

• Atypical withdrawals

• Changes in investment style

• Inability to contact the client

• Signs of intimidation when in the presence of a family member or caregiver

Advisors should notify their supervisor or your Compliance Department if there is any concern about possible physical or financial abuse towards a senior client.

Memory changes disrupting daily life

Challenges planning/solving problems

Difficulty completing familiar tasks

Confusion with time and place

Trouble with visual & spatial images

Problems with words in speech or writing

Misplacing items – losing ability to backtrack

Decreased or poor judgment

Withdrawal from work or social activities

Changes in mood and personality


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A Primer for Financial Advisors

Section 3Copyright © 2010 John F. Broyles

Almost 15.4 million Americans provide

17.5 billion hours of unpaid care

$216,000,000,000

60% of unpaid caregivers are wives, daughters, and other females

32% of unpaid caregivers provide care for 5 years or longer

Caregivers will spend $9.1 BILLION on their care


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350 Pennies Are Spent on Care!


Medications:Aricept - $425/mo

Exelon - $310/mo

Namenda - $350/mo

Typical treatment is two drugs concurrently

Approximately $775/mo ($9,300/year)

All figures shown are estimates and solely illustrative. The Alzheimer's Association makes no guarantees as to the accuracy of these figures.


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Home Health:Certified Nurse Aide (CNA) - $18-22/hour

Licensed Vocational Nurse (LVN) - $33-37/hour

Registered Nurse (RN) - $65-70/hour

Weekly cost range - $1,100 – $1,300

Approximately $62,400/year



Facility Care:

Assisted Living Facility - $40,500/year

Nursing Home - $63,875/year

Skilled Memory Care - $6,500 – $8,000/month

Approximately $87,000/year



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Annual cost to America:$203,000,000,000

Annual cost in 30 years:

$1,000,000,000,000


1 stimulus package per year!




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Section 4My Client Receives a Diagnosis!

Step 1: Advise your client to contact their local chapter of the Alzheimer’s Association for a Care Consultation.

For contact information visit:

www.alz.org

Step 2: Arrange a meeting with your client and all other individuals who will help with the decision-making process.


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Step 1:

Gather all Financial and Legal Documents.

Legal Documents

Living Wills

Medical and Durable Powers of Attorney

Wills



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Step 2:

Discuss Financial Needs and GoalsDesign Financial PlanConsider the following factors when designing a financial plan:

Age

Types of Assets

Types of Insurance

Tax Issues

Long-term Health Outlook

Future Care Needs

Income/cash flowCopyright © 2010 John F. Broyles


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Costs Involved

Medical Needs

Alzheimer’s Medical Treatment

Other Medical Treatment

Prescription drugs

Personal Care

Supplies

Adult day care

In-home care services

Full-time residential care services


Health Care Coverage

Disability Insurance

Long-Term Care Insurance

Life Insurance

Employment benefits

Retirement plans

Personal savings, investments, property

Social security disability income

Medicaid

Veterans benefitsCopyright © 2010 John F. Broyles

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You may want to offer assistance to a family living with Alzheimer’s, but you worry you will say or do the wrong thing.

It may help to be aware of these common experiences:


Is adjusting to new schedules and changing roles.

Welcomes your direct contact.

Worries about overwhelming family caregivers.

Strives to keep an active, independent lifestyle.


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Feel alone and disconnected from friends.

Need assistance or a break but hesitate to ask.

Struggle to run errands or complete daily tasks.

Feel highly stressed and welcome a good listener.


Educate yourself about Alzheimer’s

Learn about its effects and how to respond

Stay in touch – show that you care means a lot

A card, or a call means a lot

Do the little things

Drop off dinner or run errand

Tackle a task on the family’s to-do list.


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Activities

Plan a picnic or dinner at your place;

include the person whenever possible

Be a good listener

Support and accept – try not to judge

Allow the family some personal time

Fill in as caregiver when possible


• Contact Center/Helpline

• Patient & Family Services

• Support Groups• Safe Return• Caregiver Classes• Respite Program

• Speaker’s Bureau• Education• Health Fairs• Resource Center• Chapter Newsletter• On-line Information• Volunteer

Opportunities


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Do not ask me to remember.Don't try to make me understand.Let me rest and know you're with

me.Kiss my cheek and hold my hand.

I'm confused beyond your concept.I am sad and sick and lost.All I know is that I need you

To be with me at all cost.

Do not lose your patience with me.Do not scold or curse or cry.

I can't help the way I'm acting,Can't be different 'though I try.

Just remember that I need you,That the best of me is gone.

Please don't fail to stand beside me,Love me 'till my life is done.

- UnknownCopyright © 2010 John F. Broyles

Exhibit A from slide 12