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

Author

Listed:
  • JeongHee Yeo

    (Inha University)

  • Yoon G. Lee

    (Utah State University)

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.

Suggested Citation

  • JeongHee Yeo & Yoon G. Lee, 2019. "Understanding the Association Between Perceived Financial Well-Being and Life Satisfaction Among Older Adults: Does Social Capital Play a Role?," Journal of Family and Economic Issues, Springer, vol. 40(4), pages 592-608, December.
    • Handle: RePEc:kap:jfamec:v:40:y:2019:i:4:d:10.1007_s10834-019-09634-2
    DOI: 10.1007/s10834-019-09634-2
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    5. Choi, Shinae L. & Lee, Yoon G., 2023. "Financial hardship and change in emotional well-being before to during COVID-19 pandemic among middle-aged and older Americans: Moderating effects of internal coping resources," Social Science & Medicine, Elsevier, vol. 317(C).
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    8. Melissa J. Wilmarth, 2021. "Financial and Economic Well-Being: A Decade Review from Journal of Family and Economic Issues," Journal of Family and Economic Issues, Springer, vol. 42(1), pages 124-130, July.

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