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Adults Make Riskier, More Inconsistent Decisions As They Get Older, Study Finds
schliz writes "People aged over 65 make poorer financial decisions and more inconsistent choices than younger individuals with the same IQ, an international research group has found. The study (abstract) had 135 healthy participants aged 12-90 make a series of decisions: for example, choosing between gaining $5 and the chance to win $20 in a lottery. On average, over-65s earned 26-39% less than all other age groups, including adolescents — a finding that could partially explain their susceptibility to problem gambling and scams."
OR, they're more worried about fiscal security at the end of their lives, and fear of things like being shoved in a crappy nursing home and having all their possessions sold off frightens them into taking risks they wouldn't otherwise consider.
Not all people over 65 are rich, you know; fact is, most are quite the opposite.
An enigma, wrapped in a riddle, shrouded in bacon and cheese
...someday you say to yourself "Look, for my entire life I've done the 'right thing' and even now it doesn't help my joints stop aching or buy me a bowel movement, so what the hell, let's try something else."
Someone had to do it.
My (german) grandmother has advanced alzheimer's, and is has reverted pretty much to her childhood. On a good day, she's in her 20's (which covers the period from 1939-1945). She has been known to wax poetical about Hitler, and has interesting ideas about homosexuals, gypsies, and the jews.
I still visit her. I leave my girlfriend at home when I visit her, and smile politely when she tries to introduce me to men she knows (knew back then). One time, she tried to hook me up with my uncle. At family events, my GF is "a good friend who didn't have anybody to visit" for the benefit of my grandmother. You may choose to sweep the elderly under the rug, I choose not to. We can still be compassionate in how we treat them, and there are constructive ways to deal with people who hold beliefs that we disagree with.
The study says fogies prefer less risk.
Not quite. The study found that geezers are less willing to take a risk to win, but more willing to take risks to avoid a loss. In many cases they were avoiding good risks and taking bad risks. Overall, they were making worse decisions than younger people when either accepting or declining risks.
The Rising Age Gap in Economic Well-Being
As per their training, the old think they're poor . That's why they have zero hesitation imposing whatever burdens they're told they deserve on whomever they're told can afford to pay.
There is nothing to worry about. Today. The regime is secure and the bennies will flow.
Right up until the currency folds.
Then the cutbacks; the PIIGS found out what that's about.
None of this is real. The whole damn nation is one giant ponzi scheme of vote buying, and it has a expiration date.