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What Every Woman Should Know About Cognitive Decline and Financial Planning

10.08.26 // Life Events, Lifestyle & Technology // Article //

As Canada's population ages, neurodegenerative conditions like dementia are becoming an increasingly important issue for women, not only because women are more likely to develop the disease, but also because they are more likely to care for someone who does. This makes financial planning more important than ever, as caregiving responsibilities influence income, savings and retirement timelines.

Did You Know?

  • Women account for approximately two-thirds of Alzheimer's disease cases.1
  • Women in their 60s are about twice as likely to develop Alzheimer's disease over the rest of their lives as they are to develop breast cancer.2
  • By 2050, more than one million women in Canada are projected to be living with dementia.3
  • More than half of dementia care partners in Canada are women.4

Why Are Women More at Risk?

For many years, experts believed women were more likely to develop Alzheimer's disease simply because they tend to live longer. Today, research suggests the explanation is more complex. Researchers are exploring the role of menopause, estrogen loss, genetics, and other biological factors in women's brain health. According to Dr. Natasha Rajah, Adjunct Scientist at Baycrest Academy for Research and Education, and Professor and Tier 1 Canada Research Chair in the Department of Psychology at Toronto Metropolitan University, premature menopause (menopause before the age of 40), early menopause (menopause before the age of 45), and the surgical removal of the ovaries before age 45 have been linked to a higher risk of dementia.

The Caregiving Reality

Many women are part of the sandwich generation, balancing care for aging parents while supporting children or other family members, often alongside careers and household responsibilities. These overlapping demands can create added financial and personal pressures that affect women’s income, retirement savings, and long-term financial security.

Care Planning Is an Important Part of Financial Planning

Planning ahead means understanding your care options. Whether you prefer the familiarity of home care or the convenience of a retirement residence, costs can vary significantly based on your needs, location, and level of care. Home care offers flexibility and familiarity, with costs ranging from approximately $60,000 per year for part-time assistance to over $300,000 for full-time care. Retirement residences, on the other hand, provide independent living with access to support services, and typically cost between $4,500 and $9,000 per month.5

How a Trusted Advisor Can Help You and Those You Care About

Women often take on many roles throughout their lives, including caregiver, decision-maker, advocate, and family anchor. A trusted financial advisor can help you navigate life's transitions with confidence by:

  • Creating a personalized wealth plan designed for your future, taking into account longevity, changing health needs, evolving family responsibilities, and the financial decisions that support the life you want to live.
  • Protecting your wishes and preserving your independence by establishing important safeguards such as powers of attorney, trusted contacts, executors, and, in Quebec, a mandatary and liquidator.
  • Ensuring your estate plan reflects your values and intentions through regular reviews of your will, trusts, beneficiary designations, and wealth transfer strategies with estate and trust professionals.
  • Preparing financially for future healthcare and care-related expenses, including long-term care needs, home support, and other health-related costs that may arise over time.
  • Helping you care for the people who matter most, whether that means supporting children, a spouse, aging parents, grandchildren, or loved ones with unique needs, while maintaining your own financial security.
  • Providing guidance during major life transitions, such as retirement, the loss of a spouse, divorce, the sale of a business, receiving an inheritance, or becoming the primary financial decision-maker.

Talk to your financial advisor today about strategies to support long-term financial well-being.

Securities-related products and services are offered through Raymond James Ltd. (RJL), regulated by the Canadian Investment Regulatory Organization (CIRO) and a Member of the Canadian Investor Protection Fund. RJL financial/investment advisors are not tax advisors, and we recommend that clients seek independent advice from a professional advisor on tax-related matters. Insurance products and services are offered through Raymond James Financial Planning Ltd., which is not regulated by CIRO and is not a Member of the Canadian Investor Protection Fund. Solus Trust Company (“STC”) is an affiliate of Raymond James Ltd. and offers trust services across Canada. STC is not regulated by CIRO and is not a Member of the Canadian Investor Protection Fund.

Footnotes:

1 National Center for Biotechnology Information (NCBI). PMC10796575. Available at: https://pmc.ncbi.nlm.nih.gov/articles/PMC10796575/ (accessed September 16, 2026).

2 https://www.alz.org/alzheimers-dementia/how-alzheimers-impacts-different-groups/women

3 https://alzheimer.ca/en/about-dementia/what-dementia/dementia-numbers-canada

4 https://alzda.ca/the-alzheimer-society-landmark-study-part-2/

5 La Presse. “Le prix de la vieillesse enfin chiffré”. La Presse, 29 Mar. 2026, https://www.lapresse.ca/affaires/chroniques/2026-03-29/calculateur-de-l-institut-national-sur-le-vieillissement/le-prix-de-la-vieillesse-enfin-chiffre.php; SeniorHome Canada. Memory Care. https://www.seniorhome.ca/care-types/memory-care.

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