Why do we remember some events and not others, and how does this change in old age? Although there are a variety of ways to address this question, the present perspective emphasizes how value can have a profound eVect on how we use our memory to remember certain information. The ability to select and prioritize what information is important to remember, relative to less salient or peripheral information, is an essential skill for the eYcient use of memory. For example, university students seek to memorize information they think is important for a later test, while grandparents may focus on being able to remember information about children and grandchildren, as well as important life events. In both cases, value is used to direct resources toward information that is deemed to be important to remember. The role that value plays in memory performance is critical to develop a comprehensive understanding of how memory is used across the adult life span.The present summary focuses on how older adults use evaluative processing (a critical process that will be defined and discussed throughout this chapter) to guide encoding and retrieval operations, and how older adults then use value to make decisions about what information is important to remember. In light of the many memory impairments that typically THE PSYCHOLOGY OF LEARNING