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If you're drawing an investment lesson, make sure it's the right one

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Harvard professor, Dr Ellen Langer.

When I was doing the research in 1992 for my book on retirement, I discovered the books of Ellen Langer, professor of psychology at Harvard, who has led pioneering research on the potential of older people.

It was Dr Langer who conducted an experiment with elderly patients in a nursing home. Half were told they would be given a pot plant if they were prepared to care for it – the other half were told they would be given a pot plant for which staff would be responsible. As she had hypothesised, the group who were required to look after their plant showed significant health improvements.

She was also the driving force behind the 2010 BBC television program The Young Ones in which six elderly volunteers, including the cricket umpire Dickie Bird, were taken back to an environment that was identical to 1975, when they were 35 years younger. They were asked to act as........

© Brisbane Times