They know more. They’ve been there, done that. It’s easier and wiser to make decisions based upon knowledge. Older people are less prone to make decisions based upon mere feelings alone. They have to make decisions based upon reality, and facts, rather than upon weepy feelings, old grudges, and fear.
They also don’t need to make decisions based upon lust (although some still do) and passion. Older folks, if they are lucky, can see the bigger picture, and the potential consequences of their decisions. Not always, but to a higher degree than folks in their teens and twenties.