Malcolm Graham
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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.

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