Asset allocation and age: Evidence from the Survey of Consumer Finances by Ibbotson and

Chen (2003) .This paper examines the relationship between age and asset allocation using
data from the Survey of Consumer Finances. The study finds that younger investors tend to
hold a higher percentage of their portfolio in equities, while older investors tend to have a
more balanced portfolio with a greater percentage invested in fixed-income securities.
Age and investment behaviour: Evidence from the German Socio-Economic Panel by Börsch-
Supan et al. (2011) This paper investigates the impact of age on investment behaviour using
data from the German Socio-Economic Panel. The study suggests that younger investors are
more likely to engage in active investment strategies, such as trading individual stocks, while
older investors tend to have a more passive investment approach.
The impact of age on investment decision-making: Evidence from the FINRA Investor
Education Foundation National Financial Capability Study by Lusardi et al. (2018) .The study
examines the impact of age on investment decision-making using data from the FINRA
Investor Education Foundation National Financial Capability Study. The findings suggest that
older individuals are more likely to seek advice from financial professionals, have a more
conservative investment approach, and are less likely to engage in risky investments.
Age and investment risk tolerance: Evidence from the National Longitudinal Survey of Youth
by Hanna et al. (2015). This paper explores the relationship between age and investment risk
tolerance using data from the National Longitudinal Survey of Youth. The findings suggest
that older individuals have lower investment risk tolerance than younger individuals, which
may be attributed to their declining cognitive abilities and increased preference for stability.