At what age do we supposedly reach our financial decision-making peak?

Answer: Age 53-54

Questions:

• What are some factors that might contribute to our making better financial decisions around age 53-54?
• How much of a role do you think retirement plays in financial decision-making at that age?
• Could this belief lead to complacency or delay in making important financial decisions earlier in life?
• Can efforts to increase financial literacy drive this number down, or do you think people will the age range of 53-54 always hold true?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

Behind the numbers (Wall Street Journal):

"The prime years for making smart financial decisions are, on average, 53 and 54.

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MOVE: Your Money Values gets your students out of their seat and identifying what's important to them when it comes to money.

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Want to learn more about the rationale behind our financial decision making? Check out NGPF's Behavioral Economics unit.

About the Author

Ryan Wood

Ryan is the Partnerships and Adoption Manager for Next Gen Personal Finance’s midwest region. He brings his experience as a former teacher, curriculum designer, and sales and marketing professional to state organizations and school districts in supporting the implementation of their personal financial education efforts. He graduated from the University of Wisconsin-Green Bay and earned his teaching credential from Saint Mary’s University in Winona, Minnesota. He proudly taught at two rural high schools in Wisconsin before transitioning to curriculum design at NGPF, and is now excited to be on the front lines in delivering the best possible financial education in the midwest. He and his wife have three beautiful daughters, each of which inspire him to share the impact of being sound financial stewards both at home and as lifelong learners.