New Research on Aging and Financial Decision Making
… as people age, they become more focused on maximizing positive emotions and social interactions—and more determined to block out negative experiences. This process, which experts call socioemotional selectivity, leads older people—including the affluent—to pay more attention to those who make them feel content and comfortable. At the same time, they are more likely to neglect warning signs that might have been obvious at a younger age.
From the always thoughtful Jason Zweig in the WSJ on new research into older adults and finances.Tags: aging, behavioral finance, Fraud