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Old 06-05-2016, 08:35 PM   #41
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Arguments against taking this too seriously:

1) It's CNBC
2) Not peer reviewed
3) It's not peer reviewed
4) It's published in an obscure journal
5) No indication of what the variance is in the decline of cognitive abilities
6) It's one study

Sigh.



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Old 06-05-2016, 10:04 PM   #42
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Quote:
Originally Posted by Fred123 View Post
Arguments against taking this too seriously:

1) It's CNBC
2) Not peer reviewed
3) It's not peer reviewed
4) It's published in an obscure journal
5) No indication of what the variance is in the decline of cognitive abilities
6) It's one study

Sigh.



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arguments for taking it seriously: 1) it is one in a long series of studies reaching the same conclusion, including from the Center for Retirement Research at Boston College. See http://crr.bc.edu/wp-content/uploads...B_15-1-508.pdf ; 2) is consistent with laws such of that of California that specificaly protect "elders" against financial and other abuse; 3) falls firmly within common knowledge.

People refusing to believe that that the 100 year old me might not be as sharp as the 50 year old me (or that 100% of the drop occurs at age 99). sigh.
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Old 06-05-2016, 10:25 PM   #43
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arguments for taking it seriously: 1) it is one in a long series of studies reaching the same conclusion, including from the Center for Retirement Research at Boston College. See http://crr.bc.edu/wp-content/uploads...B_15-1-508.pdf ; 2) is consistent with laws such of that of California that specificaly protect "elders" against financial and other abuse; 3) falls firmly within common knowledge.

People refusing to believe that that the 100 year old me might not be as sharp as the 50 year old me (or that 100% of the drop occurs at age 99). sigh.
Always helpful if you actually read the study! The average age of participants in the study you quoted was 83, and, in fact, in the conclusions the paper states: "...The findings confirm that declining cognition, a common occurrence among individuals in their 80s, is associated with a significant decline in financial literacy." If you recall, the original article said that the decline begins at 60. And, even so, there's no sign that this study was peer reviewed either, and it doesn't even have any statistics such as p-values or confidence intervals associated with their linear regression.
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Financial Literacy Goes South at 60
Old 06-06-2016, 12:52 PM   #44
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Financial Literacy Goes South at 60

It started earlier with me. Until I was 50 or so I never had to write anything down. Appointments, passwords, charge card numbers, goals, targets or commitments. I had been like that my entire life so I never developed any good record keeping habits. Not yet 60, I have slipped considerably. Recall time takes longer, and I have misplaced keys and forgotten details of something I used to remember without effort. No physical issues and others appear not to notice, but it is clear to me I am a couple steps behind my former self. I now am taking steps to protect me from my future self, (diminished intellect and memory.). Fortunately my wife is still around to provide kind reminders. (Trash, flossing, ....)

This my be an attention span issue since I can still recall items I pay attention to. The problem is that it is not easy for me to pay attention anymore. It now has to be "active", when I was younger it was "passive".


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Old 06-06-2016, 01:29 PM   #45
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What were we talking about? 😁


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Old 06-11-2016, 03:33 PM   #46
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Warren Buffett & George Soros seem to be doing just fine. They would have to do a double blind study, comparing those that are active physically and mentally, at various levels.


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Old 06-11-2016, 04:05 PM   #47
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Old 06-11-2016, 05:06 PM   #48
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Financial literacy....
Can't lose what I never had, so age doesn't enter in.

Besides... too busy studying Brexit, negative bond rates, the IMF, and international debt to think about personal finances. Que sera, sera...
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Old 06-11-2016, 05:11 PM   #49
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Financial literacy....
Besides... too busy studying Brexit, negative bond rates, the IMF, and international debt to think about personal finances. Que sera, sera...
Hey - don't forget China hard landing, Venezuela collapse, Brazil gov't turmoil, climate change, and that whole thing going on over there..
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Old 06-11-2016, 06:43 PM   #50
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My dad has done really well, but I've noticed this decline a bit in him after 60. He used to be simple buy and hold index guy. In his 60's he started reading newsletters and making his portfolio so complicated that none of the family could understand it. Fortunately during the Great Recession when many cap gains were temporarily wiped out, I was able to convince him to simplify the portfolio and move back to a more simple plan.


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Old 06-11-2016, 07:31 PM   #51
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What if she starts slipping? Will you know?

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Fortunately my wife is still around to provide kind reminders.
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Old 06-11-2016, 07:31 PM   #52
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Hey - don't forget China hard landing, Venezuela collapse, Brazil gov't turmoil, climate change, and that whole thing going on over there..
Just as I was beginning to get some of this under control, you have to add more w*rk.

Not easy, but somebody's gotta do it.
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Old 06-11-2016, 11:16 PM   #53
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The restaurants around here have taken to calculating the tips for 10%, 15%, and 20% for you, printed on the bill, thus taking away even that simple exercise.
Sure but have calculated out the tip, around here all the pre-calculated tips are including the tax !
So you are tipping the taxman effort as well
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Old 06-11-2016, 11:20 PM   #54
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No, not at all. The reverse is true,,,,,, so far....
+1
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Old 06-12-2016, 06:05 AM   #55
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This has been bothering me for years - when I first retired, spent a year doing little work, I noticed a slip in my memory - When I went back to work, I noticed that my memory and knowledge is just as sharp in not more sharp then my 25 to 35 year old staff(6)


What worries me, is my young bride who is ten years younger, (been married for 30 years), I have notice that since she turned 50, her mind is starting to slip - its gotten so bad that she will be retiring in July. After 30 years of high pressure work (off shore construction manager) she has very mixed feeling on calling it a career. For the 1st time she will be an Expat wife and we will see how that goes.
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Old 06-12-2016, 06:18 AM   #56
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It's all very scary. Not only are we likely to lose some of our cognitive abilities with regard to our investments, but we are also likely to become more susceptible to being swindled by dishonest "caregivers", often disguised as family members.
I've seen this played out more than once.
I manage the investments now, DW understands the concepts, but despite how much I hate the idea of paying a trust company a %, we have arranged in our wills that upon the demise of one of us, a portion of the remaining funds will be managed by a trust company, simply because there are members of DW's family I don't trust.
It was an awful thing to have to discuss, as we did our wills together, but reality is reality. I sleep better at night knowing that at least some of the money won't be an easy target.
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Old 06-12-2016, 09:47 AM   #57
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Her age of 50 sure makes a person suspect hormone levels for this.

I didn't experience much in the way of menopausal symptoms (I am not sure I even know what a hot flash is), but many women do, and "brain fog" is one that is often mentioned.

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What worries me, is my young bride who is ten years younger, (been married for 30 years), I have notice that since she turned 50, her mind is starting to slip - its gotten so bad that she will be retiring in July. .
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Old 06-13-2016, 07:24 PM   #58
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My window of financial acumen / acuity seems to have been from about 50 to 66.

Now we're in trouble.

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Old 06-15-2016, 02:45 PM   #59
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My wife and I claim many times we told something to the other and it was "forgotten". The issue is who forgot? Did I forget to tell her or did she forget what I said?




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Old 06-16-2016, 05:09 PM   #60
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My wife and I claim many times we told something to the other and it was "forgotten". The issue is who forgot? Did I forget to tell her or did she forget what I said?
My wife always says it was me who forgot to tell her.
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