It Keeps Getting Tougher Even Sooner

 all other, knowledge
Nov 242009
 

old-coupleJust another thing to worry about for many of us. Is it proper to ask our doctors how old they are? Wonder how old the researchers were?

The New Retirement Risk: Decisionmaking Skills Peak at 53

That’s right, it’s all downhill after 53 — at least for your financial decision-making super powers. A new Brookings Papers study(penned by two Fed Reserve guys and two academics) took a look at 10 different financial moves — from credit card balance transfers to home equity loans and lines of credit — and how age plays into the decision-making process. The sweet spot for minimizing fees and interest rates was smack dab in the heart of old-school middle age: 53. After that milestone,  our financial cognitive skills start to slide.            To read full article go here.
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