Tag: cognitive decline
The brief’s key findings are: With the shift from traditional pensions to 401(k) plans, the welfare of retirees depends increasingly on their ability to make sound financial decisions. Using a dataset that follows a group of older individuals in the Chicago area, the analysis examines how aging affects financial decision making. Participants who suffer cognitiv…
A recent blog post reported that David Laibson, a talented behavioral economist at Harvard University, cited annuities as a way to help minimize poor financial decisions associated with dementia, a type of “dementia insurance.” This notion is right on. The retirement income landscape has changed. Increasingly, individuals’ well-being in retirement will depend on how muc…
