When it comes to retirement planning have you given sufficient cogitation to your cognitive abilities down the road? Today’s article highlights a disturbing finding in this regard: “financial literacy tends to decline by about 1% per year after age sixty, but financial confidence remains the same.” As such, the author cautions that “with retirement, it is important to consider how declining cognitive skills associated with aging will make it increasingly difficult to self-manage your investment and withdrawal decisions” and that “it is important to plan ahead and make binding decisions before cognitive impairment sets in.” What are some examples of these binding decisions? CLICK HERE to read more.
