Older adults facing financial crunch may be at twice the risk of developing dementia, according to a study.

"Our study confirms that the risk of dementia is reduced among well-off older people compared with those who have fewer economic resources," said Andrew Steptoe from the University College London. "Differences in healthy lifestyle and medical risk factors are relevant. It may also be that better off people have greater social and cultural opportunities that allow them to remain actively engaged with the world," Steptoe added.

The study, published in journal JAMA Psychiatry, included data from over 6,000 adults.  The research analysed the socio-economic factors that influence dementia and the results showed that 20 per cent of the sample who were economically deprived that 50 per cent higher chances of developing dementia. Wealth in later life may be linked with increased risk of dementia, independent of education, the researchers said.

"Dementia is a progressive neurodegenerative condition with devastating consequences to individuals, their families and governments around the world," said Dorina Cadar from the varsity. "Our efforts are unified in identifying the risk factors associated with a delay in the onset of dementia or a slower progression," she noted.