This is because older adults’ experience with financial decisions can offset cognitive decline, leading to sound financial decisions being able to be made well into older age.Īnother factor involved in making good decisions, is the ability to regulate our emotions. In fact, research shows that “ cognitive aging does not (have to) spell doom” for older people. And although we all differ in our levels of experience, older adults will on average have more practice at decision making than younger adults. This is because they will already know what do do, based on their previous experience. That said, older adults may not have to think too hard if they have made a similar decision before. ‘I may look old but I know things.’ SpeedKingz/Shutterstock As people tend to get older, decisions about topics such as health and retirement – or how to run the country in the case of the Queen – can be a bit more challenging. ![]() Some decisions will be easier than others. ![]() And it looks like a trend that is set to continue, with Democratic nominee Hilary Clinton at 68, and Republican nominee Donald Trump a couple of years older at 70.Īt all ages whether at work or in our personal lives, we have to make decisions on a regular basis. Ronald Reagan was 69 when he was elected, and is the oldest US president on record. While US presidents must be at least 35-years-old, most elected are at a much older age. Queen Elizabeth II, who turned 90 in April, still plays an active role in the UK’s state affairs. Older people are also serving as heads of state well into old age. Indeed, in the latest Fortune 500 Index, the average age for a CEO was shown to be 57 years-old, with some of the oldest CEOs in their 70s and 80s. Around the world, people are living longer than ever before, with a recent report from Public Health England revealing that the average 65-year-old man can expect to live another 19 years, while a 65-year-old woman has got a further 21 years to play with.Īs the population is ageing, people are working longer, with many older people continuing their high-powered careers late into life.
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