| Popis: |
Making sound personal financial decisions over the course of the adult life span is one of the keys to individual self-sufficiency, independence, and quality of life. However, the cognitive capacities that underlie financial decisions—basic cognitive resources, general knowledge, and domain-specific financial expertise—show different developmental trajectories over the adult life span. In this chapter we posit the existence of differences in competence at making a range of personal financial decisions from the mundane to the strategic. We point out how the types of financial tasks individuals are likely to encounter co-vary with one's age and life stage. Also discussed in the chapter are four major factors that can compromise financial decision-making competence at different points in the life span, as well as potentially profitable avenues for intervention research and practice. |
