Age Makes You Happier – And Poorer

Avoidance Strategies

As the years pass I've noticed I'm increasingly unwilling to expose myself to sources of negative information or emotional stress. So news bulletins, soap operas and anything a film critic might regard as emotionally engaging are increasingly off-limits. Frankly I'd rather watch Guardians of the Galaxy than Moonlight, no matter how worthy the latter.

Slightly to my surprise it turns out that this isn't just me being more than normally antisocial, but is a commonly observed age-related change in preferences. By choice older people will habitually avoid stuff that they find negative. Which goes a long way to explaining a lot of things, including why older nuns tend to be happier and why we should avoid having to do anything difficult – like thinking or active investment – after we've reached 70.

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Lost In Your Own Memories: Age And The Room Effect

Remember …

Old people, you may have noticed, have a much better recollection of past events than they have of current ones. Memory is a very odd thing; what we remember and what we don’t isn’t always entirely rational, and the lessons we learn from our memories aren’t always the ones we ought to.

For investors, who all too often rely on their unsupported memories for insight into what they should be doing, this opens up a world of potential dangers. Although, as it turns out, simply wandering from one room to another can be enough to ruin your portfolio.

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