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

Author

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

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

Suggested Citation

  • Christopher C Stewart & Lei Yu & Crystal Glover & Gary Mottola & Olivia Valdes & Robert S Wilson & David A Bennett & Patricia A Boyle & Derek M Isaacowitz, 2023. "Well-Being and Aging-Related Decline in Financial and Health Literacy in Advanced Age," The Journals of Gerontology: Series B, The Gerontological Society of America, vol. 78(9), pages 1526-1532.
    • Handle: RePEc:oup:geronb:v:78:y:2023:i:9:p:1526-1532.
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    File URL: http://hdl.handle.net/10.1093/geronb/gbad059
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