There are studies looking at financial decisions by age. IIRC, one concluded that before age 25, investment outcomes are still ramping up. Between 25 and 65-70,

There are studies looking at financial decisions by age. IIRC, one concluded that before age 25, investment outcomes are still ramping up. Between 25 and 65-70, investment outcomes are fairly flat. But they also concluded cognitive abilities peak in the early fourties. The explanation given in the study I read is that by that time, experience takes over to smooth things over. (One issue I had with this study was that I'm not sure they controlled for macroeconomic cycle; it was a very concentrated cohort in time.) My own thoughts: If society indeed needs both analytical skills and quick decisions, it's clearly better to have old/experienced people be the ones to rely on gut feeling, than the younger population. It's possible that the ability to learn is designed to diminish with age, sacrificing accuracy for speed. And so I'm rationalizing my own cognitive decline with "I'm not alone" and "it's meant to be." ;)