CHARLOTTE, N.C. — Research from a study on financial literacy in 2022 says the prime years for making smart financial decisions are, on average, 53 and 54.
Wall Street Journal writers said around that age, people have enough knowledge and experience about money and haven't started to lose certain cognitive skills.
It's also roughly the age when adults make the fewest financial mistakes. That's on factors like credit cards, interest rates and fees.
Meanwhile, younger folks between 20 and 40 can dive a bit deeper into numbers around inflation and interest rates.
However, the lack of life experience is hurting overall financial literacy.
On magic number 54, the study says it's your time for peak knowledge.
After that, it's about keeping up with thinking exercises to slow down or avoid cognitive decline.
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