12/04/2014 09:14 am ET Updated Dec 04, 2014

Why Older Americans Are Financially Vulnerable

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In addition to wrinkles and graying hair, getting older brings on a less-visible change: diminished cognitive abilities, from simple math to making investment decisions, which can have a big impact on finances.

According to new research from Daniel Marson, a professor of neurology at the University of Alabama–Birmingham, adults in their 60s and 70s start to exhibit declines in financial abilities, including a vulnerability to potential telephone fraud, difficulty making change at checkout​ and having a harder time prioritizing bills. Those diminished abilities can make it a struggle​ to keep up with everyday financial management tasks.

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