RuEn

Journal section "Public finances"

Financial Well-Being of Older Adults: Theoretical and Methodological Aspects and Assessment Issues

Belekhova G.V.

Volume 16, Issue 5, 2023

Belekhova G.V. (2023). Financial well-being of older adults: Theoretical and methodological aspects and assessment issues. Economic and Social Changes: Facts, Trends, Forecast, 16(5), 117–137. DOI: 10.15838/esc.2023.5.89.7

DOI: 10.15838/esc.2023.5.89.7

Abstract   |   Authors   |   References
  1. Aizinova I.M. (2017). Socio-economic problems of the older generation: Quality of life of the senior population. Problemy prognozirovaniya=Studies on Russian Economic Development, 4, 121–131 (in Russian).
  2. Barsukov V.N., Kalachikova O.N. (2016). Study of the quality of life of the older generation: A regional experience. Ekonomicheskie i sotsial’nye peremeny: fakty, tendentsii, prognoz=Economic and Social Changes: Facts, Trends, Forecast, 4, 88–107. DOI: 10.15838/esc/2016.4.46.5 (in Russian).
  3. Barsukov V.N., Kalachikova O.N. (2020). The evolution of demographic and social construction of the age of “old age”. Ekonomicheskie i sotsial’nye peremeny: fakty, tendentsii, prognoz=Economic and Social Changes: Facts, Trends, Forecast, 13(1), 34–55. DOI: 10.15838/esc.2020.1.67.2 (in Russian).
  4. Barsukov V.N., Shabunova A.A. (2018). The trends in changing labor activity of the older generation amid population aging. Problemy razvitiya territorii=Problems of Territory’s Development, 4(96), 87–103. DOI: 10.15838/ptd.2018.4.96.6 (in Russian).
  5. Barysheva G.A., Nedospasova O.P. (2017). Regional initiative to improve the well-being standard of the older generation: Evidence from the Tomsk Oblast. Regional’naya ekonomika: teoriya i praktika=Regional Economics: Theory and Practice, 15(4), 676–690. DOI: 10.24891/re.15.4.676 (in Russian).
  6. Brenner L., Meyll T., Stolper O., Walter A. (2020). Consumer fraud victimization and financial well-being. Journal of Economic Psychology, 76, DOI: https://doi.org/10.1016/j.joep.2019.102243
  7. Brüggen E.C., Hogreve J., Holmlund M. et al. (2017). Financial well-being: A conceptualization and research agenda. Journal of Business Research, 79, 228–237. DOI: https://doi.org/10.1016/j.jbusres.2017.03.013
  8. Burtseva T.A., Chausov N.Yu., Gagarina S.N. (2018). Life quality assessment for the aged seniors in Russia. Rossiiskii ekonomicheskii internet-zhurnal, 2. Available at: https://www.e-rej.ru/Articles/2018/Burtseva.pdf (in Russian).
  9. Burtseva T.A., Gagarina S.N., Chausov N.Yu. (2019). Quality of life assessment of the older population at the substation of active longevity strategies in the context of structural demographic changes. Vestnik universiteta, 2, 5–12. DOI: 10.26425/1816-4277-2019-2-5-12 (in Russian).
  10. Ching Yuen Luk S. (2023). Financial well-being of older adults. In: Healthy Ageing in Singapore. Social Policy and Development Studies in East Asia. Singapore: Palgrave Macmillan. DOI: https://doi.org/10.1007/978-981-99-0872-1_2
  11. Dobrokhleb V.G. (2021). Social state and the older generation of Russia: Stated and implemented principles. Ekonomika. Nalogi. Pravo=Economics, Taxes & Law, 14(2), 64–71. DOI: 10.26794/1999-849x-2021-14-2-64-71 (in Russian).
  12. Fan L., Lei S. (2023). Financial well-being, family financial support and depression of older adults in China. International Journal of Bank Marketing, 41(6), 1261–1281. DOI: https://doi.org/10.1108/IJBM-05-2022-0214
  13. Fu J. (2020). Ability or opportunity to act: What shapes financial well-being? World Development, 128, 1–20. DOI: https://doi.org/10.1016/j.worlddev.2019.104843
  14. García Mata O., Zerón Félix M., Briano G. (2022). Financial well being index in México. Social Indicators Research, 163, 111–135. DOI: https://doi.org/10.1007/s11205-022-02897-7
  15. Gutman A., Garon T., Hogarth J., Schneider R. (2015). Understanding and Improving Consumer Financial Health in America. Center for Financial Services Innovation. Chicago. Available at: https://assetfunders.org/wp-content/uploads/CFSI_Consumer_Financial_Health_0415.pdf (accessed: August 28, 2023).
  16. 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. DOI: https://doi.org/10.1007/s11205-007-9234-z
  17. Hsieh Cm. (2004). Income and financial satisfaction among older adults in the United States. Social Indicators Research, 66, 249–266. DOI: https://doi.org/10.1023/B:SOCI.0000003585.94742.aa
  18. Joo S.H., Grable J.E. (2004). An exploratory framework of the determinants of financial satisfaction. Journal of Family and Economic Issues, 25(1), 25–50. DOI: https://doi.org/10.1023/B:JEEI.0000016722.37994.9f
  19. Kalachikova O.N., Korolenko A.V., Natsun L.N. (2023). Theoretical and methodological foundations of active longevity research. Monitoring obshchestvennogo mneniya: ekonomicheskie i sotsial’nye peremeny=Monitoring of Public Opinion: Economic and Social Changes Journal, 1, 20–45. DOI: 10.14515/monitoring.2023.1.2209 (in Russian).
  20. Kaur G., Singh M., Singh S. (2021). Mapping the literature on financial well-being: A systematic literature review and bibliometric analysis. International Social Science Journal, 71, 217–241. DOI: https://doi.org/10.1111/issj.12278
  21. Kempson E., Finney A., Poppe C. (2017). Financial well-being. A conceptual model and preliminary analysis. Consumption Research Norway – SIFO. Project Note No. 3. Available at: https://www.bristol.ac.uk/media-library/sites/geography/pfrc/pfrc1705-financial-well-being-conceptual-model.pdf. DOI: https://doi.org/10.13140/RG.2.2.18737.68961 (accessed: August 28, 2023).
  22. Kislitsyna O.A. (2016). Izmerenie kachestva zhizni / blagopoluchiya: mezhdunarodnyi opyt [Measuring Quality of Life/Well-Being: International Experience]. Moscow: Institut ekonomiki RAN.
  23. Korolenko A.V. (2022). Active aging in the life practices of the Vologda Oblast population. Sotsial’noe prostranstvo=Social Area, 8(1). Available at: http://socialarea-journal.ru/article/29201; DOI: 10.15838/sa.2022.1.33.2 (in Russian).
  24. Korolenko A.V., Barsukov V.N. (2017). Health status as a factor of labor activity of the retirement-age population. Vestnik Permskogo universiteta. Filosofiya. Psikhologiya. Sotsiologiya=Perm University Herald. Series “Philosophy. Sociology”, 4(32), 643–657. DOI: 10.17072/2078-7898/2017-4-643-657 (in Russian).
  25. Madero-Cabib I., Fasang A.E. (2016). Gendered work-family life courses and financial well-being in retirement. Advances in Life Course Research, 27, 43–60. DOI: https://doi.org/10.1016/j.alcr.2015.11.003
  26. Netemeyer R.G., Warmath D., Fernandes D., Lynch J.G. (2018). How am I doing? Perceived financial well-being, its potential antecedents, and its relation to overall well-being. Journal of Consumer Research, 45(1), 68–89. DOI: https://doi.org/10.1093/jcr/ucx109
  27. Palomäki L.M. (2019). Does it matter how you retire? Old-age retirement routes and subjective economic well-being. Social Indicators Research, 142(2), 733–751. DOI: https://doi.org/10.1007/s11205-018-1929-9
  28. Pavlova I.A., Monastyrnyi E.A., Gumennikov I.V., Barysheva G.A. (2018). The Russian elderly well-being index (REWI): Methodology, methods, approbation. Zhurnal issledovanii sotsial’noi politiki=The Journal of Social Policy Studies, 16(1), 23–36. DOI: 10.17323/727-0634-2018-16-1-23-36 (in Russian).
  29. Pavlova I.A., Nedospasova O.P., Gumennikov I.V. (2021). Assessment and monitoring of well-being of the old generation in Tomsk Oblast (on the materials of the Russian elderly well-being index). Vektory blagopoluchiya: ekonomika i sotsium=Journal of Wellbeing Technologies, 3(42), 89–115. DOI: 10.18799/26584956/2021/3(42)/1121 (in Russian).
  30. Porter N.M., Garman E.T. (1993). Testing a conceptual model of financial well-being. Financial Counseling and Planning, 4, 135–164.
  31. Riitsalu L., Murakas R. (2019). Subjective financial knowledge, prudent behaviour and income: The predictors of financial well-being in Estonia. International Journal of Bank Marketing, 37(4), 934–950. DOI: https://doi.org/10.1108/IJBM-03-2018-0071
  32. Riitsalu L., Sulg R., Lindal H. et al. (2023). From security to freedom – the meaning of financial well-being hanges with age. Journal of Family and Economic Issues. DOI: https://doi.org/10.1007/s10834-023-09886-z
  33. Ryazantsev S.V., Miryazov T.R. (2021). Demographic well-being: Theoretical approaches to definition and methodology of assessment. DEMIS. Demograficheskie issledovaniya=DEMIS. Demographic Research, 1(4), 5–19. DOI: 10.19181/demis.2021.1.4.1 (in Russian).
  34. Shabunova A.A., Rossoshanskii A.I. (2018). Assessment of subjective quality of life by the older generation. Problemy razvitiya territorii=Problems of Territory’s Development, 3(95), 7–19. DOI: 10.15838/ptd.2018.3.95.1 (in Russian).
  35. Strömbäck C., Lind T., Skagerlund K. et al. (2017). Does self-control predict financial behavior and financial well-being? Journal of Behavioral and Experimental Finance, 14, 30–38. DOI: http://dx.doi.org/10.1016/j.jbef.2017.04.002
  36. Vasil’eva E.V. (2022). Active aging index of Russian regions: Alternative approach. Narodonaselenie=Population, 25(3), 128–143. DOI: 10.19181/population.2022.25.3.10 (in Russian).
  37. Voronin G.L., Zakharov V.Ya., Kozyreva P.M. (2018). Lonely old aged: Surviving or living an active life? Sotsiologicheskii zhurnal=Sociological Journal, 24(3), 32–55. DOI: 10.19181/socjour.2018.24.3.5992 (in Russian).
  38. Vosloo W., Fouche J., Barnard J. (2014). The relationship between financial efficacy, satisfaction with remuneration and personal financial well-being. International Business & Economics Research Journal (IBER), 13(6), 1455–1470. DOI: https://doi.org/10.19030/iber.v13i6.8934
  39. Wilkinson L.R. (2016). Financial strain and mental health among older adults during the Great Recession. The Journals of Gerontology. Series B, Psychological Sciences and Social Sciences, 71(4), 745–754. DOI: https://doi.org/10.1093/geronb/gbw001
  40. Wilmarth M.J. (2021). Financial and economic well-being: A decade review from journal of family and economic issues. Journal of Family and Economic Issues, 42(1), 124–130. DOI: https://doi.org/10.1007/s10834-020-09730-8
  41. Xiao J.J., Porto N. (2017). Financial education and financial satisfaction: Financial literacy, behavior, and capability as mediators. International Journal of Bank Marketing, 35(5), 805–817. DOI: https://doi.org/10.1108/IJBM-01-2016-0009
  42. Xue R., Gepp A., O'Neill T.J. et al. (2020). Financial well-being amongst elderly Australians: The role of consumption patterns and financial literacy. Account Finance, 60, 4361–4386. DOI: https://doi.org/10.1111/acfi.12545

Article views

all: , this year: , this month: , today:

Article downloads

all: , this year: , this month: , today:

View full article