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Here’s a question that just about everyone approaching (and passing) middle age will feel ambivalent about: how does getting older affect our ability to make rational decisions?<\/strong> On the one hand, it’s common knowledge that our cognitive abilities begin to decline in our fifties. On the other, as I’ve written before<\/a>, the accumulation of experience and, yes, wisdom, may offset the effects of this decline. The research on this topic is a mixed bag:<\/p>\n \u201cWe found that older adults are better at evaluating the immediate and delayed benefits of each option they choose from. They are better at creating strategies in response to the environment\u201d<\/p><\/blockquote>\n The takeaway is that we need to leverage the benefits and offset the drawbacks of aging on decision-making<\/strong>. As we age, we should rely more on younger relatives and advisors as well as decision tools and automation to manage risk and make decisions, especially in the financial domain. With a little help from our friends, we can rely with increasing confidence on our ability to make our most consequential personal and professional decisions with wisdom, experience and care.<\/p>\n P.S. Do you have a suggestion for a future article in this space? Drop me a line: \n