[Jonty30]

A lot of it, I think, has to do with getting cautious because a 70 year old, who makes a costly mistake has a lot more to lose than a 25 year old who makes the same costly mistake.

For the same mistake, I think most people would be more willing to forgive a young person than a senior.

[decimon]

A lot of it, I think, has to do with getting cautious because a 70 year old, who makes a costly mistake has a lot more to lose than a 25 year old who makes the same costly mistake.

You don't expect to recover as you did when you were young. Not your physical health or your fiscal health or...

[Lonesome in Massachussets]

A lot of it, I think, has to do with getting cautious because a 70 year old, who makes a costly mistake has a lot more to lose than a 25 year old who makes the same costly mistake.

A lot of it has to do with the fact that an older person (I'm 61) has more experience and has learned the consequences of a hasty decision. In addition, the older person has more experience to draw on, so his resources are deeper. Where a younger person sees an issue a black and white (and hardly considers the consequences) and older person sees more nuance and shading and is acutely award of the consequences of being wrong.