By Carla Fried
That’s right, it’s all downhill after 53 — at least for your financial decision-making super powers.
A new Brookings Papers study (penned by two Fed Reserve guys and two academics) took a look at 10 different financial moves — from credit card balance transfers to home equity loans and lines of credit — and how age plays into the decision-making process. The sweet spot for minimizing fees and interest rates was smack dab in the heart of old-school middle age: 53. After that milestone, our financial cognitive skills start to slide.