Research Finds Smartest Financial Decisions Are Made in Middle Age
NEW YORK–(BUSINESS WIRE)–As the saying goes, one becomes older and wiser. How true is that when making financial decisions? Analyzing 10 different types of credit behavior, NYU Stern Professor Xavier Gabaix, with colleagues Sumit Agarwal at the Federal Reserve Bank of Chicago, John Driscoll at the Federal Reserve Board and David Laibson at Harvard University, conclude that the least costly financial decisions occur around age 53. According to psychological research, cognitive ability is at its
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Research Finds Smartest Financial Decisions Are Made in Middle Age
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