Empirical evidence confirms that investors become ________ as they approach retirement.

Name: Empirical evidence confirms that investors become ________ as they approach retirement.
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Question

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As investors approach retirement, they tend to become more risk-averse because they have less time to recover from potential losses, and they want to preserve their accumulated wealth for their retirement years. This is supported by empirical evidence from various studies conducted in the field of behavioral finance.

Empirical Evidence Confirms That Investors Become ________ as They Approach