Research shows many octogenarians shine at performing ‘comprehensive tasks which require a great storehouse of information.’ And life experience makes a difference.

Research has found that “there is little, if any decline, in older ages, in knowledge and crystallizing intelligence,” explains Yochai Shavit, the director of research at the Stanford Center on Longevity, a research center that works with 150 Stanford University faculty on opportunities created by increased longevity.

Most Americans score miserably when asked how long people aged 65 tend to live. Chances are, if you were asked to name the principal elements of planning and preparing for retirement, you would say things like saving regularly, managing expenses and keeping debt down.