This should be no surprise. Plus there is a condition known as MCI, mild cognitive impairment, which usually occurs prior to full blown dementia. MCI has symptoms that may involved finances, bills, forgetting simple things, etc. Not everyone with MCI goes on to develop dementia but a large percentage do. Of course, anyone can make bad financial decisions or be victims of scams, but older adults are usually more likely to fall into that category. From what I remember, my late mother began having problems managing her money about a year or so prior to my recognizing further memory impairment.