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

  • JeongHee Yeo
  • Yoon G. LeeEmail author
Original Paper
  • 157 Downloads

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 

Notes

Compliance with Ethical Standards

Research Involving Human Participants and/or Animals

For this type of study, formal consent was not required. This article does not contain any studies with human participants or animals performed by any of the authors.

Informed Consent

Informed consent was obtained from all individual participants included in the study.

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© Springer Science+Business Media, LLC, part of Springer Nature 2019
corrected publication 2019

Authors and Affiliations

  1. 1.Department of Consumer ScienceInha UniversityIncheonSouth Korea
  2. 2.Department of Human Development and Family StudiesUtah State UniversityLoganUSA

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