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It’s never too late to take action when it comes to health, including brain fitness.

Nearly 7million Americans and more than 733,000 Canadians are living with dementia, a general term for loss of memory, language, problem-solving and other thinking abilities.

Economists at the non-profit research organization RAND have identified several factors that can strongly predict, at age 60, whether someone will develop cognitive impairment and dementia by 80.

“Understanding risk factors can enable health care providers and policymakers to identify groups at the highest risk so they can direct resources to delay cognitive decline or address its effects,” said Peter Hudomiet, lead author of the report and a senior economist at RAND, per the New York Post.

The think tank surveyed some 20,000 adults over 50 to examine 181 potential risk factors, including demographics, socioeconomic status and health behaviours, to see which were most associated with developing dementia.

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The researchers recommended that older people consider making lifestyle changes such as exercising more, consuming alcohol in moderation, working additional years, taking up hobbies after retirement and maintaining good physical health.

They also suggest seeking cognitive assessments during annual checkups.

The strongest barriers to undergoing a cognitive test, according to RAND, were out-of-pocket costs, returning for follow-up appointments and receiving dementia treatments.

Early detection of Alzheimer’s disease and related dementias is critical for improved treatment outcomes.

“Broadening the use of cognitive assessments is an important strategy to identify patients who may benefit from current and future treatments for Alzheimer’s and related dementias,” said Susann Rohwedder, a senior economist at RAND. “Assessments provided individuals with information that may facilitate actions to prepare for the future.”

The RAND report coincides with a recent Lancet Commission report that revealed 14 modifiable lifestyle factors that account for nearly half of dementia cases.

Factors include lower levels of education, hearing loss, high blood pressure, smoking, obesity, depression, physical inactivity, diabetes, excessive alcohol consumption, traumatic brain injury, air pollution, social isolation, vision loss and high cholesterol.