Aims: Dementia and cognitive impairment can arise from a combination of genetic and modifiable factors. There is substantial evidence supporting the impact of modifiable factors, highlighting the urgent need for consistent evaluation. This study aimed to provide a narrative assessment of the risk factors associated with the incidence of dementia in older adults. Information & Methods: This was a systematic review carried out in 2024. In this review, databases, including PubMed, ScienceDirect, Wiley Online Library, and ProQuest were searched for studies on risk factors associated with the incidence of dementia in the elderly. The review followed the PRISMA guidelines to systematically structure the report. The quality of the studies was evaluated using NIH criteria, and the risk of bias was assessed using the ROBINS-E tool. A total of 1,658 articles were collected in the initial search. After the screening process, 16 articles were deemed eligible. Findings: Based on the collected studies, approximately 27 risk factors were categorized into four groups, including demographic factors, lifestyle, chronic diseases, and psychological disorders. The majority of the studies reviewed focused extensively on depression, while hypertension and a history of stroke also emerged as frequently discussed subjects. Conclusion: Demographics, lifestyle, chronic diseases, and psychological disorders are risk factors for dementia among older adults.