The brief’s key findings are:
- Individuals make the most effective financial decisions in middle age, resulting in lower fees and interest rates on credit and loan transactions.
- Financial performance declines for older adults, raising a potential concern as the retirement system has shifted more decisions to individuals.
- A range of policy responses is possible – from improved disclosure of financial products to stricter regulatory review.
- Any response should carefully weigh the costs as well as the benefits.
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