Well-Being and Aging-Related Decline in Financial and Health Literacy in Advanced Age

Christopher C Stewart, Lei Yu, Crystal Glover, Gary Mottola, Olivia Valdes, Robert S Wilson, David A Bennett, Patricia A Boyle and Derek M Isaacowitz

The Journals of Gerontology: Series B, 2023, vol. 78, issue 9, 1526-1532

Abstract: ObjectivesEmerging evidence suggests that financial and health literacy deteriorates in advanced age. By contrast, well-being promotes health in aging. This study tested the hypothesis that well-being is associated with slower aging-related literacy decline.MethodsParticipants were 1,099 community-based older adults without dementia at baseline. Financial and health literacy was assessed at baseline and annually thereafter via a 32-item measure. Well-being was assessed at baseline via the 18-item version of Ryff’s Scales of Psychological Well-Being.ResultsDuring up to 12 years of annual follow-up, literacy declined about 1 percentage point per year on average (β = −0.91, standard error [SE] = 0.08, p

Keywords: Financial abuse; Health promotion; Psychological strength; Successful aging; Well-being (search for similar items in EconPapers)
Date: 2023
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