Income, age and financial satisfaction.
Although the effects of income and age on subjective well-being have been widely studied, research on the effects of income and age on financial satisfaction, a major life domain to which income has direct relevance, remains limited. Analyzing data from the General Social Surveys, this article empirically examined the effects of income and age on financial satisfaction. These findings suggest that the social-psychological mechanisms underlying the age differences in the effects of income on financial satisfaction might not reflect a clear-cut status attainment versus status maintenance framework. The findings also served to caution future financial satisfaction research in the choice of income measures and the age grouping.
Hsieh
Chang-ming
CM
Jane Addams College of Social Work, University of Illinois at Chicago, 60607-7134, USA. chsieh@uic.edu
D000328:Adult / Q000523:psychology*; D000367:Age Factors; D000368:Aged / Q000523:psychology*; D000369:Aged, 80 and over / Q000523:psychology; D003430:Cross-Sectional Studies; D003710:Demography; D005260:Female; D005382:Financing, Personal / Q000706:statistics & numerical data*; D006801:Humans; D007182:Income / Q000706:statistics & numerical data*; D007398:Interpersonal Relations; D016015:Logistic Models; D008297:Male; D008875:Middle Aged / Q000523:psychology*; D010549:Personal Satisfaction; D011594:Psychometrics