The main argument of this review is that motivational development associated with normal aging affects decision making. With increasing age, the ratio of gains to losses becomes more and more unfavorable. Reflecting the increasing losses in resources, goal orientation changes from a predominant orientation towards gains in young adulthood to an increasingly stronger orientation towards the prevention of loss in older adulthood. As goals serve as reference points for the evaluation of decision outcomes, this change in goal orientation across adulthood might also affect decision making. The decision-making literature has recognized that choices are influenced by goal orientation. However, little research has been conducted on how goals influence the decision-making process in general and with regard to aging in particular. To date, findings on decision making and aging remain inconsistent and are in need of a developmental framework. With regard to applications, a better understanding of the aging decision maker can provide insight into how to improve communication efforts about issues like advance care planning, medical treatment, and housing options.