Skip to main content
SpringerLink
Log in

Conclusion Part V

  • Chapter
  • First Online:
Revisiting Economic Vulnerability in Old Age

Part of the book series: Life Course Research and Social Policies ((LCRS,volume 11))

  • 195 Accesses

Abstract

This chapter summarizes the main findings discussed in part Part V, which focused on establishing whether it is statistically possible and relevant from a quality of life point of view to distinguish between two subjective measures of economic vulnerability. A series of statistical methods were used to assess differences between the two (overlapping) population groups identified as vulnerable by either the Self-Assessed Measure (economic strain: difficulties in making ends meet) or the Perceived Measure (economic stress: worry about not having enough money), in terms of the individuals’ ‘Background Characteristics’ and their propensity to exhibit ‘Psychosocial Symptoms and Consequences’ of economic vulnerability.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Notes

  1. 1.

    In contrast to this coping strategy, there exist strategies that aim at changing merely the meaning of a situation.

  2. 2.

    The risk of financial distress in times of need was defined as a lack of liquidity if financial wealth, net of non-mortgage debt is less than 3 months of income, under the condition that income is not in the top 1/3 of the income distribution.

References

  • Antonucci, T. C., Lansford, J. E., Akiyama, H., Smith, J., Baltes, M. M., Takahashi, K., Fuhrer, R., & Dartigues, J. (2002). Differences between men and women in social relations, resource deficits, and depressive symptomatology during later life in four nations. Journal of Social Issues, 58(4), 767–783.

    Article  Google Scholar 

  • Baltes, M. M., & Baltes, P. B. (1993). Psychological perspectives on successful aging: The model of selective optimization with compensation. In P. B. Baltes & M. M. Baltes (Eds.), Successful aging: Perspectives from the behavioral sciences (S. 1–34). Cambridge University Press.

    Google Scholar 

  • Bierman, A. (2014). Reconsidering the relationship between age and financial strain among older adults. Society and Mental Health, 2156869314549675.

    Google Scholar 

  • Boehnke, K., Stromberg, C., Regmi, M. P., Richmond, B. O., & Chandra, S. (1998, June 1). Reflecting the world ‘out there’: A cross-cultural perspective on worries, values and well-being. Journal of Social and Clinical Psychology, 17(2), 227–247. https://doi.org/10.1521/jscp.1998.17.2.227.

    Article  Google Scholar 

  • Bowling, A. (2007). Quality of life in older age. What older people say. In H. Mollenkopf & A. Walker (Hrsg.), Quality of life in old age: International and multi-disciplinary perspectives (Softcover reprint of hardcover 1st ed. 2007, S. 15–30). Springer.

    Google Scholar 

  • Brown, M., & Graf, R. (2013). Financial literacy and retirement planning in Switzerland. Numeracy, 6(2).

    Google Scholar 

  • Carstensen, L. L., Isaacowitz, D. M., & Charles, S. T. (1999). Taking time seriously: A theory of socioemotional selectivity. American Psychologist, 54, 165–181.

    Article  Google Scholar 

  • Cohen, S., Kamarck, T., & Mermelstein, R. (1983, December). A global measure of perceived stress. Journal of Health and Social Behavior, 24(4), 385–396.

    Article  Google Scholar 

  • Cook, F. L., & Settersten, R. A. (1995). Expenditure patterns by age and income among mature adults: Does age matter? The Gerontologist, 35(1), 10–23.

    Article  Google Scholar 

  • Dregan, A., & Armstrong, D. (2009, November 1). Age, cohort and period effects in the prevalence of sleep disturbances among older people: The impact of economic downturn. Social Science & Medicine, 69(10), 1432–1438. https://doi.org/10.1016/j.socscimed.2009.08.041.

    Article  Google Scholar 

  • Fischer, A. H. (2000). Gender and emotion: Social psychological perspectives. Cambridge University Press.

    Google Scholar 

  • Folkman, S., Lazarus, R. S., Pimley, S., & Novacek, J. (1987). Age differences in stress and coping processes. Psychology and Aging, 2(2), 171–184.

    Article  Google Scholar 

  • George, L. K. (1992). Economic status and subjective Well-being: A review of the literature and an agenda for future research. In N. E. Cutler, D. W. Gregg, & M. P. Lawton (Eds.), Aging, money, and life satisfaction: Aspects of financial gerontology (pp. 69–99). New York: Springer Publishing Co.

    Google Scholar 

  • Hall, M., Buysse, D. J., Nofzinger, E. A., Reynolds, C. F., III, Thompson, W., Mazumdar, S., & Monk, T. H. (2008). Financial strain is a significant correlate of sleep continuity disturbances in late-life. Biological Psychology, 77(2), 217–222.

    Article  Google Scholar 

  • Hansen, T., Slagsvold, B., & Moum, T. (2008). Financial satisfaction in old age: A satisfaction paradox or a result of accumulated wealth? Social Indicators Research, 89(2), 323–347.

    Article  Google Scholar 

  • Hazelrigg, L. E., & Hardy, M. A. (1997). Perceived income adequacy among older adults issues of conceptualization and measurement, with an analysis of data. Research on Aging, 19(1), 69–107.

    Article  Google Scholar 

  • Heckhausen, J., & Schulz, R. (1995). A life-span theory of control. Psychology Review, 102, 284–304.

    Article  Google Scholar 

  • Jeste, D. V., Blazer, D. G., & First, M. (2005). Aging-related diagnostic variations: Need for diagnostic criteria appropriate for elderly psychiatric patients. Biological Psychiatry, 58(4), 265–271.

    Article  Google Scholar 

  • Jorm, A. F. (2000). Does old age reduce the risk of anxiety and depression? A review of epidemiological studies across the adult life span. Psychological Medicine, 30(01), 11–22.

    Article  Google Scholar 

  • Keith, V. M. (1993). Gender, financial strain, and psychological distress among older adults. Research on Aging, 15(2), 123–147.

    Article  Google Scholar 

  • Krause, N., & Baker, E. (1992). Financial strain, economic values, and somatic symptoms in later life. Psychology and Aging, 7(1), 4–14.

    Article  Google Scholar 

  • Liang, J., Kahana, E., & Doherty, E. (1980, May 1). Financial Weil-being among the aged: A further elaboration. Journal of Gerontology, 35(3), 409–420. https://doi.org/10.1093/geronj/35.3.409.

    Article  Google Scholar 

  • Litwin, H., & Sapir, E. V. (2009). Perceived income adequacy among older adults in 12 countries: Findings from the survey of health, ageing, and retirement in Europe. The Gerontologist, 49(3), 397–406.

    Article  Google Scholar 

  • Lucas, R. E., & Gohm, C. L. (2000). Age and sex differences in subjective well-being across cultures. In E. Diener & E. M. Suh (Eds.), Culture and subjective well-being (pp. 291–317). Cambridge: The MIT Press.

    Google Scholar 

  • Maxim, P. S. (1985). Cohort size and juvenile delinquency: A test of the Easterlin hypothesis. Social Forces, 63(3), 661–681.

    Article  Google Scholar 

  • Mirowsky, J., & Ross, C. E. (1999). Economic hardship declines with age: Reply to Hardy & Hazelrigg. American Sociological Review, 64(4), 577–584.

    Article  Google Scholar 

  • Moser, P. (2006). Einkommen und Vermögen der Generationen im Lebenszyklus. Eine Querschnitts-Kohortenanalyse der Zürcher Stuerdaten 1992–2003. Zürich: Statistisches Amt des Kantons.

    Google Scholar 

  • Offer, A. (2006). The challenge of affluence: Self-control and Well-being in the United States and Britain since 1950. Oxford: OUP.

    Google Scholar 

  • Oris, M., & Lerch, M. (2009). La transition ultime. Longévité et mortalité aux grands âges dans le bassin lémanique. In M. Oris, E. D. Widmer, A. de Ribaupierre, D. Joye, D. Spini, G. Labouvie-Vief, & J.-M. Falter (Hrsg.), Transitions dans les parcours de vie et construction des inégalités (S. 407–433). Lausanne: PPUR presses polytechniques.

    Google Scholar 

  • Pearlin, L. I., & Schooler, C. (1978). The structure of coping. Journal of Health and Social Behavior, 19(1), 2–21.

    Article  Google Scholar 

  • Schulz, R., & Heckhausen, J. (1996). A life span model of successful aging. American Psychologist, 51(7), 702–714.

    Article  Google Scholar 

  • Schwartz, S. H., Sagiv, L., & Boehnke, K. (2000). Worries and values. Journal of Personality, 68(2), 309–346.

    Article  Google Scholar 

  • Szanton, S. L., Allen, J. K., Thorpe, R. J., Seeman, T., Bandeen-Roche, K., & Fried, L. P. (2008). Effect of financial strain on mortality in community-dwelling older women. The Journals of Gerontology Series B: Psychological Sciences and Social Sciences, 63(6), S369–S374.

    Article  Google Scholar 

  • Veenhoven, R. (2007). Subjective measures of well-being. In M. McGillivray (Ed.), Human well-being: Concept and measurement (S. 214–239). Basingstoke: Palgrave MacMillan.

    Chapter  Google Scholar 

  • Weidekamp-Maicher, M. (2008). Materielles Wohlbefinden im späten Erwachsenenalter und Alter. Berlin: Dissertationsverlag.

    Google Scholar 

  • Winship, C., & Harding, D. J. (2008). A mechanism-based approach to the identification of age–period–cohort models. Sociological Methods & Research, 36(3), 362–401.

    Article  Google Scholar 

  • Wolfe, C. D. A., & Burney, P. G. J. (1992). Is stroke mortality on the decline in England? American Journal of Epidemiology, 136(5), 558–565.

    Article  Google Scholar 

  • Wrosch, C., Heckhausen, J., & Lachman, M. E. (2000). Primary and secondary control strategies for managing health and financial stress across adulthood. Psychology and Aging, 15(3), 387–399.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. University of Geneva, Geneva, Switzerland

    Julia Henke

Authors
  1. Julia Henke
    View author publications

    You can also search for this author in PubMed Google Scholar

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Switzerland AG

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Henke, J. (2020). Conclusion Part V. In: Revisiting Economic Vulnerability in Old Age. Life Course Research and Social Policies, vol 11. Springer, Cham. https://doi.org/10.1007/978-3-030-36323-9_29

Download citation

Publish with us

Policies and ethics

Search

Navigation