Is Aging an Issue in Financial Decision-Making?

By: SharpBrains

Aging can be costly for retirees’ money (Asso­ci­ated Press).

Quotes:
– “With age comes wis­dom about money — up to a point.”

- “Years of han­dling your own finances and invest­ments sharpen the abil­ity to make sound deci­sions. But fail­ing to pre­pare for the day when grow­ing older ham­pers your judg­ment can be costly at an age when more is at stake. Seniors older than 65 hold about $18 tril­lion in assets, accord­ing to gov­ern­ment data, or about a third of all U.S. net worth.”

- “Some­times the senior’s worst enemy is him­self or her­self,” says Andrew Stolt­mann, a Chicago attor­ney and invest­ment adviser. “Poor finan­cial deci­sions and cog­ni­tive impair­ment go hand in hand.”

To learn more: click on full arti­cle.

View the original article here

Tags: United States, ity, seniors, Poor finan­cial deci­sions

Filed under: News

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