Trends in financial satisfaction among middle-age and old-age Americans, 1972-1996.
Using data from the General Social Surveys (1972-1996), this study decomposes the trends in financial satisfaction into intercohort and intracohort patterns to assess the intracohort change and cohort replacement effects on financial satisfaction. The results suggest that a positive intracohort component of financial satisfaction trends, indicating more financial satisfaction with time; and a negative intercohort component, indicating that younger cohorts are less satisfied financially. The multivariate analysis further suggests that the change in financial satisfaction trends is mostly due to a strong intercohort replacement effect. That is, the change in financial satisfaction trends can be largely accounted for by the intercohort replacement effect of younger cohorts' being less satisfied financially.
Hsieh
C M
CM
Jane Addams College of Social Work, University of Illinois at Chicago, 60607-7134, USA.
D000368:Aged / Q000523:psychology*; D000375:Aging; D015331:Cohort Studies; D004467:Economics; D004522:Educational Status; D005376:Financial Management; D006304:Health Status; D006801:Humans; D007182:Income; D008875:Middle Aged / Q000523:psychology*; D018803:Models, Economic; D015999:Multivariate Analysis; D010549:Personal Satisfaction; D011788:Quality of Life; D014481:United States