A/Prof Anup Basu
Queensland University of Technology
Financial Decision making in Late Adulthood
Australian Research Council
The project aims to examine links between cognitive changes and financial decision-making in late adulthood and also to assess the preparedness of the elderly to combat financial risks due to age-related cognitive decline. Further, it intends to examine how age, education, wealth, health, and other environmental factors influence transfer of financial decision-making responsibilities to spouses or others. It is expected that the research will provide a greater understanding of how cognitive functioning and other factors affect older adults financial capacity and willingness to delegate decision-making responsibilities. This understanding could be used to inform policy initiatives to protect elderly individuals and their family members from the risk of financial mismanagement.