Little is known about how normal healthy aging affects decision-making competence. In this study 538 participants (age 18-80 years) performed the Game of Dice Task (GDT). Subsamples also performed the Iowa Gambling Task as well as tasks measuring logical thinking and executive functions. In a moderated regression analysis, the significant interaction between age and executive components indicates that older participants with good executive functioning perform well on the GDT, while older participants with reduced executive functions make more risky choices. The same pattern emerges for the interaction of age and logical thinking. Results demonstrate that age and cognitive functions act in concert in predicting the decision-making performance.