Elderly drivers generally are not good at recognizing multiple objects at the same time because they have less attention resources than younger drivers. As a result, when multiple hazards arise simultaneously while driving, elderly drivers may fail to promptly identify certain hazards, leading to an accident. This study examined, using a driving simulator, to what extent elderly people properly recognized multiple, simultaneous hazards. We also examined whether they recognized hazards more quickly if given a visual alert. The results showed that they could recognize hazards more quickly when the alert to a new hazard included directional information, and that, compared with younger people, elderly drivers tended to take their foot off the gas pedal while trying to identify the hazard. Further, a subjective assessment confirmed that they found the cognitive load of processing a directional alert harder than younger people. These findings suggest that optimizing the way the alert is given according to the severity and imminence of the hazard would make the alert more effective while reducing the driver’s cognitive load.