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When you start noticing the “effects of aging,” whether in a loved one, friend, or yourself, it is natural to wonder what the future may hold. It can be an alienating feeling that is difficult to shake; some choose avoidance, and others choose action. The earlier you act, the more options you may preserve for medical care, long-term planning, and financial decision-making.
As we enter mid-life, we are often consumed by responsibility: managing a family, a career, educational expenses for children, aging parents, retirement, and more. In the process, we may put others’ needs ahead of our own, resulting in unintentional self-neglect. There is something to the notion of “putting on your own oxygen mask first.”
But what happens when you begin noticing cognitive changes? You may try to conceal them. You and your spouse may cover for each other. You may find yourself confused, scared, and unsure of where to turn. It is important to remember that you have options. You owe it to yourself and those who care about you to “rally your team” before a crisis makes decisions more difficult.
Finding a primary care provider (PCP) and having regular check-ups and screenings, both physical and cognitive, are important steps in identifying and managing potentially chronic conditions. Your PCP can help coordinate care with specialists as needed. Regular lab work and recommended screenings can establish baselines and monitor changes over time, creating a useful history of personal health information. When physical or cognitive changes are identified early, you are better able to prepare for what may lie ahead. Early diagnosis, paired with appropriate management, may improve health outcomes and preserve more long-term care options.
Although testing and screening are important for physical and cognitive health, they can also serve as a prompt to get your financial health in order. A medical baseline can help inform practical financial decisions, including cash flow planning, insurance review, long-term care preferences, account organization, and legal authority if someone needs to step in. Legal and estate planning can provide peace of mind should more urgent matters arise. Financial needs will vary depending on age, diagnosis, prognosis, caregiving needs, and insurance limitations, all of which can dramatically affect lifestyle and care options. When considering these variables, collaborating with a financial advisor can be an important step in building a long-term plan that reflects both personal goals and practical realities.
The subject of aging is uncomfortable for many reasons. Quite poignantly, we are reminded of the realities and uncertainties of the future. Still, several common pitfalls can often be avoided, including waiting too long to create or update powers of attorney, misunderstanding what is and is not covered under Medicare, gifting assets too early, keeping accounts scattered across several different custodians, or assuming others will be able to step in without clear documentation.
Taking proactive steps to address these topics can be very empowering for you but also give great reassurance to the people who care most about you.
Information may feel frightening, but uncertainty is often more expensive than clarity. Because every family, diagnosis, and financial picture is different, these conversations should be tailored with guidance from qualified medical, legal, and financial professionals.
Disclaimer:
This information is intended for general informational purposes only. This is not a specific recommendation, individualized tax, legal, or investment advice. Where specific advice is necessary or appropriate, individuals should contact their own attorney or tax to help answer questions about specific their specific situations or needs prior to taking any action based upon this information. All expressions of opinion are subject to change without notice.
Crescent Grove Advisors is a registered investment adviser; registration as an investment adviser does not imply a certain level of skill or training. For more information about Crescent Grove’s registration status, please refer to the SEC’s Investment Advisor public disclosure website at www.adviserinfo.sec.gov.
Preparing Early: Dementia, Aging, and Financial Planning for the Future
Sep 02, 2026 | Insights
Preparing Early: Dementia, Aging, and Financial Planning for the Future
Establishing a Baseline – Early Evaluation Creates More Options Later
Kate Nottoli, CDP, Director of Corporate and Media RelationsWhen you start noticing the “effects of aging,” whether in a loved one, friend, or yourself, it is natural to wonder what the future may hold. It can be an alienating feeling that is difficult to shake; some choose avoidance, and others choose action. The earlier you act, the more options you may preserve for medical care, long-term planning, and financial decision-making.
As we enter mid-life, we are often consumed by responsibility: managing a family, a career, educational expenses for children, aging parents, retirement, and more. In the process, we may put others’ needs ahead of our own, resulting in unintentional self-neglect. There is something to the notion of “putting on your own oxygen mask first.”
But what happens when you begin noticing cognitive changes? You may try to conceal them. You and your spouse may cover for each other. You may find yourself confused, scared, and unsure of where to turn. It is important to remember that you have options. You owe it to yourself and those who care about you to “rally your team” before a crisis makes decisions more difficult.
Finding a primary care provider (PCP) and having regular check-ups and screenings, both physical and cognitive, are important steps in identifying and managing potentially chronic conditions. Your PCP can help coordinate care with specialists as needed. Regular lab work and recommended screenings can establish baselines and monitor changes over time, creating a useful history of personal health information. When physical or cognitive changes are identified early, you are better able to prepare for what may lie ahead. Early diagnosis, paired with appropriate management, may improve health outcomes and preserve more long-term care options.
Although testing and screening are important for physical and cognitive health, they can also serve as a prompt to get your financial health in order. A medical baseline can help inform practical financial decisions, including cash flow planning, insurance review, long-term care preferences, account organization, and legal authority if someone needs to step in. Legal and estate planning can provide peace of mind should more urgent matters arise. Financial needs will vary depending on age, diagnosis, prognosis, caregiving needs, and insurance limitations, all of which can dramatically affect lifestyle and care options. When considering these variables, collaborating with a financial advisor can be an important step in building a long-term plan that reflects both personal goals and practical realities.
The subject of aging is uncomfortable for many reasons. Quite poignantly, we are reminded of the realities and uncertainties of the future. Still, several common pitfalls can often be avoided, including waiting too long to create or update powers of attorney, misunderstanding what is and is not covered under Medicare, gifting assets too early, keeping accounts scattered across several different custodians, or assuming others will be able to step in without clear documentation.
A practical starting checklist may include the following:
- Scheduling a physical and cognivitive evaluation
- Reviewing estate documents and powers of attorney
- Organizing accounts and key contacts
- Discussing long-term care preferences with trust loved ones
- Meeting with medical, legal, and financial professional before decisions become urgent
Taking proactive steps to address these topics can be very empowering for you but also give great reassurance to the people who care most about you.
The best places to start include:
- Your kitchen table with family and friends
- Your doctor
- Your financial advisor
- Your attorney
Information may feel frightening, but uncertainty is often more expensive than clarity. Because every family, diagnosis, and financial picture is different, these conversations should be tailored with guidance from qualified medical, legal, and financial professionals.
Disclaimer:
This information is intended for general informational purposes only. This is not a specific recommendation, individualized tax, legal, or investment advice. Where specific advice is necessary or appropriate, individuals should contact their own attorney or tax to help answer questions about specific their specific situations or needs prior to taking any action based upon this information. All expressions of opinion are subject to change without notice.
Crescent Grove Advisors is a registered investment adviser; registration as an investment adviser does not imply a certain level of skill or training. For more information about Crescent Grove’s registration status, please refer to the SEC’s Investment Advisor public disclosure website at www.adviserinfo.sec.gov.