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Why geezers give the best investment advice

Harold Evensky

Don’t trust anyone over 30. That was a rallying cry for the counterculture 1960s. But nowadays, people seeking investment advice probably should be suspicious of anyone under 50.

A study titled “The Age of Reason” concludes that middle-aged people make fewer mistakes with finances than those who are younger or older. The research even pegged the optimal point in life for handling money-related decisions: 53, give or take a few calendar pages.

In the study, published in 2009 by the Brookings Institution, researchers looked at the ability of different age groups to manage financial transactions including credit-card-balance transfer offers, home-equity loans, car loans and mortgage loans. The testers found that 53.3 years, to be exact, is the mean age at which financial missteps occur least often.

More info you can read here:

http://www.marketwatch.com/story/why-geezers-give-the-best-i...