Consumer Financial Savvy Peaks at 53 Data shows the age of 53 is sweet spot for financial savvy By Heather McPherson Posted Mar 22, 2007 11:57 AM CDT Copied Betty Parker of Consumer Credit Counseling Service of North Central Texas is surrounded by cut up credit cards from clients she has worked with in her office on October 11, 2005, in McKinney, Texas. (KRT Photos) Middle aged consumers make better decisions—and fewer mistakes—than their younger and older counterparts. A study of thousands of credit card and home and car loan documents shows that they are the most likely to get the lowest interest rate available and the least likely to pay unnecessary fees, David Wessel reports. t This magic "age of reason," researchers theorize, is the combination of what economists call "analytic capital" and "experiential capital." Wessel concludes "At younger ages, the lack of experience offsets analytical ability; at older ages, declining cognitive abilities offset experience." Read These Next New Fox star, 23, misses first day after car troubles. Iran's supreme leader makes first public comments since ceasefire. Man accused of killing his daughters might be dead. Her blood isn't compatible with anyone else's. Report an error