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THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS
The Lichtenberg Financial Decision-Making Screening Scale (LFDSS) is a brief screening tool that quantifies an individual’s informed decision making and risk for exploitation in a real-world financial transaction. Previous literature found that the ideal cut-off score for those at higher risk of fin...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Oxford University Press
2019
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6844856/ http://dx.doi.org/10.1093/geroni/igz038.457 |
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author | Campbell, Rebecca J Lichtenberg, Peter |
author_facet | Campbell, Rebecca J Lichtenberg, Peter |
author_sort | Campbell, Rebecca J |
collection | PubMed |
description | The Lichtenberg Financial Decision-Making Screening Scale (LFDSS) is a brief screening tool that quantifies an individual’s informed decision making and risk for exploitation in a real-world financial transaction. Previous literature found that the ideal cut-off score for those at higher risk of financial exploitation was five and above. The purpose of the present study was to examine the utility of the LFDSS as a screening tool for financial decision-making ability in a high-risk sample of people with cognitive impairment. The sample was obtained from the Michigan Alzheimer’s Disease Center and was comprised of both cognitively healthy individuals (n=73) and those with cognitive impairment (n=45). All participants completed the LFDSS as part of a larger test battery. A Pearson chi-square analysis was used to examine group differences in financial decision-making risk between cognitively healthy individuals and those with cognitive impairment. A Pearson chi-square analysis found that those who had cognitive impairment were significantly more likely to score above the cut-off for high-risk financial decision-making compared to those who were cognitively healthy (χ2(1)=4.61, p=.032). The base rate of high-risk financial decision-making was 3.2x greater for those with cognitive impairment compared (17.7%) to those who were cognitively healthy (5.5%). These results demonstrate the utility of the LFDSS to detect high-risk decision-making in individuals with cognitive impairment. This tool serves a need in many professional settings (e.g. doctor’s offices and Adult Protective Services) for a brief, standardized assessment measure of financial decision-making and exploitation risk for a real-world, significant financial transaction. |
format | Online Article Text |
id | pubmed-6844856 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2019 |
publisher | Oxford University Press |
record_format | MEDLINE/PubMed |
spelling | pubmed-68448562019-11-18 THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS Campbell, Rebecca J Lichtenberg, Peter Innov Aging Session 860 (Poster) The Lichtenberg Financial Decision-Making Screening Scale (LFDSS) is a brief screening tool that quantifies an individual’s informed decision making and risk for exploitation in a real-world financial transaction. Previous literature found that the ideal cut-off score for those at higher risk of financial exploitation was five and above. The purpose of the present study was to examine the utility of the LFDSS as a screening tool for financial decision-making ability in a high-risk sample of people with cognitive impairment. The sample was obtained from the Michigan Alzheimer’s Disease Center and was comprised of both cognitively healthy individuals (n=73) and those with cognitive impairment (n=45). All participants completed the LFDSS as part of a larger test battery. A Pearson chi-square analysis was used to examine group differences in financial decision-making risk between cognitively healthy individuals and those with cognitive impairment. A Pearson chi-square analysis found that those who had cognitive impairment were significantly more likely to score above the cut-off for high-risk financial decision-making compared to those who were cognitively healthy (χ2(1)=4.61, p=.032). The base rate of high-risk financial decision-making was 3.2x greater for those with cognitive impairment compared (17.7%) to those who were cognitively healthy (5.5%). These results demonstrate the utility of the LFDSS to detect high-risk decision-making in individuals with cognitive impairment. This tool serves a need in many professional settings (e.g. doctor’s offices and Adult Protective Services) for a brief, standardized assessment measure of financial decision-making and exploitation risk for a real-world, significant financial transaction. Oxford University Press 2019-11-08 /pmc/articles/PMC6844856/ http://dx.doi.org/10.1093/geroni/igz038.457 Text en © The Author(s) 2019. Published by Oxford University Press on behalf of The Gerontological Society of America. http://creativecommons.org/licenses/by/4.0/ This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited. |
spellingShingle | Session 860 (Poster) Campbell, Rebecca J Lichtenberg, Peter THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS |
title | THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS |
title_full | THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS |
title_fullStr | THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS |
title_full_unstemmed | THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS |
title_short | THE LFDSS DETECTS HIGH-RISK FINANCIAL DECISION-MAKING IN COGNITIVELY VULNERABLE OLDER ADULTS |
title_sort | lfdss detects high-risk financial decision-making in cognitively vulnerable older adults |
topic | Session 860 (Poster) |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6844856/ http://dx.doi.org/10.1093/geroni/igz038.457 |
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