Aging as a factor for financial decision making

  • Bistra Radeva
Keywords: finance, decision making, age


The purpose of this paper is to show whether aging affects financial decision making. The paper examines age-related differences in impulsivity, risk taking, financial literacy, confidence, responsibility for the participant’s financial decisions. We conclude that aging is a factor for financial decision making because the analysis of financial behavior of younger adults shows fewer financial mistakes and predicts better financial results in the future than older adults.


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