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Alzheimer’s disease is the sixth leading cause of death in the U.S. Epidemiological theory suggests that factors interact over the life course to affect late-onset Alzheimer’s risk. I view the Great Depression as a natural experiment to study whether early-life exposure to macroeconomic shock is directly associated with late-life cognitive function (Critical Period Model), combines with other disadvantages over the life course (Cumulative Inequality), and/or influences risky behaviors (Social Trajectory). Using growth curve models to analyze the Health and Retirement Survey and U.S. Census Bureau historical data, I find evidence for Critical Period and Cumulative Inequality Models in that early exposure to the Great Depression is directly associated with cognition, and disadvantage accumulates over the life course, affecting baseline cognition and trajectories of decline. There is little evidence cohort behavioral risk factors drive cognitive differences. Complicating the cognitive reserve hypothesis, mechanisms of resilience are not limited to education.