STRONGSVILLE, Ohio — Right now, there are nearly seven million Americans living with Alzheimer's Disease.
That number is projected to rise to more than 13 million by the year 2050.
As more people get diagnosed, there's one aspect of the disease that can initially be overlooked.
With the possibility of Alzheimer's striking us or someone we love, now is the time to prepare for what comes after the emotional fallout.
The moments between a mother and son created over the years are what Mike Moscarino holds onto after Alzheimer’s Disease robbed him of making new memories.
"Such a loving, caring mom. She went to work to make sure that we could make ends meet," said Moscarino.
The diagnosis came more than 18 years ago, and with it came a flood of emotions.
"It's really a cruel disease because it's a slow progression," said Moscarino.
As Moscarino and his family watched their loved one deteriorate, a new set of challenges emerged beyond the emotional.
"They really just become this shell of a person," said Moscarino.
Moscarino’s wife eventually stepped in to care for his mom.
She scaled back her work schedule to part time. The lost wages delivered a financial blow.
"Probably on the order of $400,000-450,000 over that time," said Moscarino.
When in-home care was needed, the family budget took another hit to $15,000 a year.
Eventually, Moscarino’s mom was moved into an assisted living facility.
"We've been at this now for four years as far as the assisted living, so you know you're approaching $300,000 in cost," said Moscarino.
The Cleveland Chapter of the Alzheimer's Association is working to raise awareness about the dollars and cents of the disease.
"Once you can kind of digest and understand the emotional toll that's ahead of you, that you should really make some decisions and start having conversations about the financial piece," said Melissa Shelton, Alzheimer's Association of Northeast Ohio.
Shelton told me the number of years someone can live with the disease varies greatly.
"That in itself makes it hard to, to plan financially," said Shelton.
So, her advice is to be proactive, not reactiv,e if there's a diagnosis.
"Take a different lens and look at your personal assets, your savings, your investments, your property, things like that," said Shelton.
Moscarino is grateful his parents planned for the “what if.”
"It was really what they did earlier in their life that really kind of saved them financially," said Moscarino.
With a long family history of Alzheimer's Disease, Moscarino is preparing a safety net, and he encourages all of us to do the same just in case.
"I don't want to be a financial burden on my kids and so we're doing all we can to make sure that that doesn't happen," said Moscarino.
