Research has shown that 50% of the population above the age of 85 suffers from Alzheimer's in the United States.

All of us dream of spending time with our families, doing something adventurous or travel around the world, trying new cuisines or enjoying different cultures, etc. But due to work commitments and other family responsibilities, we decide to postpone them. We put off such plans till post retirement, to do all the things we never got to do while we were busy earning a living. But life can often take a funny turn and things rarely work out the way we want them to. So, it is only prudent to prepare to meet all eventualities and be ready to face the hard knocks in life, while hoping for the best.
Given the advancement in modern technology, our life expectancy has increased. While it is good that we all live to a ripe old age, this also means that we have a responsibility to prepare for our old age and its attendant problems. One increasingly difficult to cope problem that senior citizens are facing these days is memory impairment. This is apart from the usual problems like diabetes, osteoporosis, arthritis and cardiovascular problems. So while planning for your retirement, you have to factor in the very real possibility that you or your spouse or someone close might be taken ill.
And there is a very likely chance that the chronic illness that strikes you or your loved one might be Alzheimer's. Research has shown that 50% of the population above the age of 85 suffers from Alzheimer's in the United States. In Canada, surveys have shown that 20% of the population above the age of 65 suffers from this disease. So it is important that all of us be ready to face this debilitating disease, if and when necessary.
One of the main issues affecting the families of people diagnosed with Alzheimer's is the financial stress. We have to provide for special care for the patient as the disease progresses. Initially the family might be able to manage with friends and relatives rallying around, but as the patient's condition deteriorates, the family will have to arrange for special care at home or get the patient admitted into a speciality nursing home. Or someone in the family will have to quit their job to look after their loved one. Whichever way the family decides to go, there is no denying the fact that the financial implications of providing private care everyday are going to be serious.
This problem can be offset by proper preparation along with the post retirement planning. When you plan for coping with a chronic illness along with your other life essentials, you can relax and enjoy your sunset years. If you need special care due to some chronic illness, you don't have to worry about how you will manage the added burden on your finances, post-retirement. Conservative estimates by the Alzheimer's Society places the annual cost of patient care around $200 billion for the year 2012. This estimate does not factor in loss of productivity and lost wages. Surveys have established that the average monthly cost of caring for someone suffering from Alzheimer's in an assisted living hospice or nursing home can be in the range of $3000 per month. So, though you cannot ward off the onset of Alzheimer's, you can at least be ready to face it comfortably with financial preparedness.
Dr. Robert Pokorski of The Hartford's life insurance programs recommends these steps that senior citizens can take to delay, if not totally put off the onset of chronic diseases like Alzheimer's, such as:

• Cultivating a positive attitude, which will keep you emotionally strong.
• Visiting your doctor regularly for check-ups, as this will help in early diagnosis of any problems.
• Regular exercise, as it benefits both the mind and the body.
• Learning some new skills, this helps in maintaining your mental agility.
• Eating a healthy and balanced diet, as a healthy and nutritious diet is essential for a sound min and body.
• Ensuring that you get adequate sleep as sleep deprivation can lead to many other complications.
• And lastly, socializing - it helps to interact with people as it keeps your mind engaged.

However we might hope to escape the problems that might beset us in our old age, not all of us can be that lucky. So better to be prepared to face such chronic illnesses, at least in whatever ways possible. Such financial preparation on your part can alleviate the pressures on your family. They are already facing tremendous emotional distress due to your illness. They also have the responsibility of taking care of you physically and emotionally. You can spare them the financial responsibility by being prepared for your old age and its accompanying health issues. You can try and be independent as much as possible even in your sunset years if you maintain your physical and financial health.
Dr. David Tal is a specialist in geriatric medicine and runs the Age Matters Clinic in Toronto.