What is the Age of Reason?

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.