Tag: financial decision
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…
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 –…
