Aging is an inevitable and universal process that impacts various aspects of human development, including cognitive abilities, memory, and decision-making processes. As individuals age, they often experience declines in certain cognitive abilities. Fluid intelligence, which encompasses problem-solving, abstract reasoning, and cognitive flexibility, tends to decline gradually over time. On the other hand, crystallized intelligence, which reflects acquired knowledge and expertise, generally remains stable or may even improve with age. These changes in cognitive abilities have important implications for various aspects of daily functioning, including work performance, decision-making, and independent living. Memory processes also undergo notable changes during the aging process. Older adults often experience difficulties in episodic memory, which involves the recall of specific events and personal experiences. However, semantic memory, which pertains to general knowledge and concepts, is usually well-preserved. Age-related changes in memory can impact daily activities, such as remembering appointments, names, and details of recent events. In addition to cognitive abilities and memory, decision-making processes are influenced by aging. Older adults may exhibit a more cautious approach to decision-making, tending to prioritize emotional and social factors over risk-taking behaviors. This change in decision-making strategies may be influenced by both cognitive changes and accumulated life experiences. Understanding the changes that occur in cognitive abilities, memory, and decision-making processes during aging is crucial for promoting healthy aging and developing appropriate behaviors and support systems. The present research focuses on identifying protective factors and strategies to mitigate cognitive decline, such as engaging in intellectually stimulating activities, maintaining a healthy lifestyle, and fostering social connections. Furthermore, cognitive training programs along with scientific interventions have shown improved cognitive functions in older adults. Further a study on Subjective Memory Complaints (SMC) and decision making in young and older adults of the Siksha “O” Anusandhan Deemed to be University was undertaken and it was corroborated that though Subjective Memory Complaint and aging are critical and it declines as age advances, but strategic psycho-social interventions can address these challenges effectively.