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older adults

Cognitive Aging and the Decline of Financial Decision-Making

A person in a blazer is giving a presentation on financial literacy to a small group. The presentation covers fraud protection and smart investing, with a chart displayed.

As people age, their financial decision-making abilities can decline, making them more vulnerable to scams and poor financial choices. An expert in financial literacy, Wharton professor Olivia Mitchell advocates better financial literacy and policy to protect older adults from this decline. …Read More

May 7, 2025   |   News and Media financial education, financial literacy, older adults, policy, wharton

What’s A “Negative Wealth Effect”? You May Be Feeling It.

A person looks worried while holding their face, with a large downward trending financial graph on a screen in the background.

Recent shocks to the U.S stock market are driving consumers to feel a negative wealth effect, leading them to cut spending. Wharton Professor Olivia S. Mitchell discusses these concerns.…Read More

April 15, 2025   |   News and Media anxiety, economy, investing, older adults, risk, stock, volatility, wealth effect, wharton

Does Financial Literacy Decline with Age?

An elderly person with gray hair looks contemplative, surrounded by floating USD bills against a neutral background. They hold some money, suggesting thoughts about finances.

Both financial and health literacy decline with age for older adults, boosting their risk of making mistakes, reports Wharton Professor, Olivia S. Mitchell, via Knowledge at Wharton.  …Read More

April 4, 2025   |   News and Media financial literacy, health literacy, older adults, risk, wharton
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