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WSJ Your Money Briefing

The Best Years for Making Smart Financial Decisions

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 29 August 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Many Americans start making serious financial decisions in their early 20s when they enter the workforce and start living on their own. WSJ’s Clare Ansberry joins host J.R. Whalen to discuss recent studies that explain the age when adults actually make the best financial decisions. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This podcast is brought to you by Fidelity Investments.

0:03.7

Find yourself on solid ground at Fidelity.

0:06.2

We bring 75 years of experience and are hiring licensed financial planners near you.

0:11.4

Visit branches.fidelitycareers.com. Fidelity is an equal opportunity employer.

0:20.8

Here's your money briefing for Tuesday, August 29.

0:23.5

I'm JR Whalen for the Wall Street Journal.

0:27.0

We make financial decisions every day.

0:30.0

Whether we're swiping a credit card at the store, paying the rent, or deciding where to eat dinner.

0:35.0

But recent studies have shown that there's a specific age when we're more likely to make the smartest financial decisions.

0:41.0

You know, your ability to understand what's going on in the markets with investments,

0:47.0

real basic things like inflation, pricing, savings.

0:52.0

So what's the magic number? And what can people of any age do to make better money decisions?

0:57.0

We'll go through the numbers with the WSJ's Claire Ansbury. That's after the break.

1:09.0

As a city national client, you get a dedicated team of banking professionals working alongside you.

1:15.0

From a relationship manager who works with you on everyday business needs to a business banker

1:20.0

who drives your goals into the future. Come in to meet your team at City National Bank.

1:25.0

See what personal can do for you at CNB.com.

1:41.0

Most adults are faced with making good financial choices almost every day.

1:45.0

But it turns out as a particular age when people tend to make their best financial decisions.

1:49.0

Wall Street Journal reporter Claire Ansbury reviewed studies conducted by Australia's arc center of excellence in population aging research,

1:57.0

as well as the National University of Singapore. And she joins me now.

2:01.0

So Claire, just to make sure we know what we're talking about, what do we mean when we say good financial decision making?

...

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