[et_pb_section fb_built=”1″ _builder_version=”4.21.0″ background_color=”rgba(224,153,0,0.87)” background_image=”https:\/\/research.psy.uq.edu.au\/qldmindproject\/wp-content\/uploads\/2023\/07\/AdobeStock_484369865-scaled.jpeg” background_blend=”luminosity” min_height=”240px” custom_margin=”-2px|||||” custom_padding=”98px||110px||false|false” locked=”off” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ background_color=”#FFFFFF” min_height=”105px” custom_margin=”-52px|auto|-43px|auto||” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_text admin_label=”Title” _builder_version=”4.21.0″ text_text_color=”#FFFFFF” text_font_size=”40px” header_font=”Inter|800|||||||” header_text_align=”center” header_text_color=”#FFFFFF” header_font_size=”44px” header_letter_spacing=”3px” header_line_height=”1.6em” background_enable_color=”off” custom_padding=”55px||0px||false|false” animation_style=”fade” animation_delay=”150ms” inline_fonts=”Montserrat” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ specialty=”on” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/research.psy.uq.edu.au\/qldmindproject\/wp-content\/uploads\/2023\/07\/AdobeStock_570708297-scaled.jpeg” title_text=”One old senior couple at home paying bills online with web banki” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ specialty_columns=”2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_column_inner saved_specialty_column_type=”1_2″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” text_line_height=”1.8em” global_colors_info=”{}”]<\/p>\n
Worldwide, a \u2018divide and conquer\u2019 approach to household finances has emerged, whereby husbands typically assume responsibility for major financial decisions (e.g., investments), whereas wives are generally in charge of managing smaller day-to-day financial tasks (e.g., paying bills). Although this task specialization can be efficient, there are potentially serious consequences when one\u2019s own \u2013 or one\u2019s partners\u2019 capacity to complete their responsibilities is compromised due to cognitive decline.<\/p>\n
We sat down with one of our Principal Investigator\u2019s Dr. Sarah Coundouris<\/a> to discuss her recent publication in Gerontology<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.20.4″ _module_preset=”default” custom_margin=”-20px||-58px||false|false” custom_padding=”8px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” custom_margin=”-20px||||false|false” custom_padding=”0px||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” text_line_height=”1.8em” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n \u201cMy colleagues and I explored whether older adults\u2019 financial decision-making capacity is impacted not only by their own, but also by their romantic partners\u2019 level of cognitive functioning. This is important as how sensitive older couples are to any signs of cognitive decline, as well as their ability to successfully compensate for this when it comes to their own financial decision-making behaviour, is likely to play a critical role in the couple\u2019s continued financial wellbeing.\u201d<\/p>\n \u201cThis study adds to the encouraging evidence of successful compensation in older women, as the possibility of widowhood becomes more imminent.\u201d<\/p>\n \u201cOur hope is that these findings will encourage additional work that examines the potential mechanisms underlying women\u2019s improved competency, so that these can be practically utilized to help ensure older adults\u2019 financial security.\u201d<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” custom_margin=”||||false|false” custom_padding=”20px|15px|30px|15px|false|false” border_radii=”on|1px|1px|1px|1px” border_width_all=”1px” box_shadow_style=”preset1″ global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Key Messages” _builder_version=”4.21.0″ _module_preset=”default” text_font=”Inter||||||||” text_text_color=”#0DA0C5″ text_font_size=”18px” global_colors_info=”{}”]<\/p>\n KEY MESSAGES<\/strong><\/span><\/p>\n [\/et_pb_text][et_pb_text admin_label=”1.” _builder_version=”4.21.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” custom_padding=”||15px||false|false” global_colors_info=”{}”]<\/p>\n 1.<\/span><\/strong><\/span>Age-related cognitive decline reduces older adults\u2019 ability to make sound financial decisions<\/p>\n [\/et_pb_text][et_pb_text admin_label=”2.” _builder_version=”4.21.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” custom_padding=”||||false|false” global_colors_info=”{}”]<\/p>\n 2.<\/span><\/strong><\/span>Perceiving greater cognitive decline in their husband positively predicted wives\u2019 ability to adequately carry out specific financial tasks. Interestingly, this finding was only true for females<\/p>\n [\/et_pb_text][et_pb_text admin_label=”3.” _builder_version=”4.22.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” custom_padding=”||||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n 3.<\/span><\/strong><\/span>Wives\u2019 sensitivity to their husbands\u2019 decline, as well as successfully compensating for this, may be particularly important given that males have traditionally been the key financial decision-makers. Consequently, wives\u2019 capacity and willingness to take over the financial responsibility may be critical to both partners\u2019 continued financial well-being<\/p>\n [\/et_pb_text][et_pb_text admin_label=”4.” _builder_version=”4.22.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” custom_padding=”||||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n 4.<\/span><\/strong><\/span>Given that females\u2019 involvement in household decision making, and likelihood of being the primary financial decision maker in a household have both increased markedly in recent generations, the gender-specific effect we found here may be unique to today’s older adults<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.21.0″ _module_preset=”default” custom_margin=”||||false|false” custom_padding=”||||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.21.0″ _module_preset=”default” text_font=”Inter|300|||||||” text_font_size=”16px” text_line_height=”1.8em” global_colors_info=”{}”]<\/p>\n