TY - RPRT T1 - What the Health and Retirement Study Tells Us About Cognitive Ability, Financial Literacy, and the Demand for Financial Advice at Older Ages Y1 - 2018 A1 - Hugh Hoikwang Kim A1 - Maurer, Raimond A1 - Olivia S. Mitchell KW - Cognitive Ability KW - Decision making KW - Financial literacy AB - Cognitive ability and financial literacy can have an indeterminate effect on older persons’ financial behavior. Older investors who recognize that their capacity to manage financial assets is diminished would rationally delegate the task to others. But those who mistakenly believe their acumen remained intact might continue managing their money themselves. This study examines the ambiguous influence of cognitive ability and financial literacy at older ages to gauge their impact on demand for, and use of, financial advice. JF - Trends and Issues PB - TIAA Institute CY - New York City UR - https://www.tiaainstitute.org/publication/what-health-and-retirement-study-tells-us-about-cognitive-ability ER -