Five years before the PoA registration, the LFC group, compared to the control group, showed decreased average spending on clothing by 9.1 percentage points, travel by 9.6 percentage points, and hobbies by 7.9 percentage points. Conversely, the LFC group was more likely to spend more on items associated with increased time at home, such as household gas and electricity bills, by 5.1 percentage points.
The acronyms – basically, LFC & PoA are the people not doing well.
This case-control study analyzed the anonymized banking records of 16,742 people who had a “loss of financial capacity” (LFC) marker noted when a power of attorney (PoA) was registered with a major UK bank.
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