Understanding the Association Between Perceived Financial Well-Being and Life Satisfaction Among Older Adults: Does Social Capital Play a Role?

JeongHee Yeo () and Yoon G. Lee ()
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JeongHee Yeo: Inha University
Yoon G. Lee: Utah State University

Journal of Family and Economic Issues, 2019, vol. 40, issue 4, No 2, 592-608

Abstract: Abstract Using data from the 2014 Health and Retirement Study (HRS), we examined the association between subjective perception of financial well-being and life satisfaction. We also examined the effect of social capital on the link between financial well-being and life satisfaction among older adults. We further explored how the role of social capital in life satisfaction differs by household asset quartiles. The role of social capital was statistically significant in the relationship between financial well-being and life satisfaction among older adults. The findings of this study suggest that participation in social activities explains the link between financial well-being and life satisfaction among older adults, and its mediating effect is slightly larger for the top quartile than the bottom quartile.

Keywords: Economics of aging; Financial well-being; Life satisfaction; Older adults; Social capital (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (13)

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DOI: 10.1007/s10834-019-09634-2

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