Smart Decision-Making Fades With Age

Geo Beats
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As we age, we like to think we’re getting smarter, but recent research points to the sad truth that becoming wiser with years isn’t necessarily the case.

As we age, we like to think we’re getting smarter, but recent research points to the sad truth that becoming wiser with years isn’t necessarily the case.

In the study, participants 65 and older made the poorest decisions in the group, which was comprised of 135 individuals aged 12 to 90.

Participants were asked to make decisions on 320 matters. Each scenario involved financial gains, losses, and risks.

Given an amount of 125 dollars to use in lottery-like situations, the seniors in the study made unwise and sometimes senseless choices 25 percent of the time.

That’s compared to 10 percent among teens and 5 percent among those middle-aged and young adults.

For example, when given the option to choose between winning 5 dollars for sure or having a 50 percent chance of getting $20, most seniors chose the lower, more conservative, route.

When the betting situations focused on losses, however, most in the 65 and over group went with the riskier choice.

What worried the researchers is that their decisions in both cases are contrary to previous research showing people will take bigger risks to gain money but not to lose it.

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