This study focuses on understanding the economic well-being of a growing subgroup of elderly, noninstitutionalized elderly facing risks of health problems and financial dependency. The combination of predisposing characteristics and resources that best explain differences in economic well-being of elderly was examined using a sample from the 1984 National Long Term Care Survey of elderly with functional limitations living in the community (N=5500). There were significant differences in economic well-being by age, marital status, gender, race, types of income sources and education, although age, race and gender did not have significant effects when other variables were controlled. Resource variables added the most explanation for differences in economic well-being, especially sources of income beyond Social Security. The results show the importance of having retirement income sources beyond Social Security for preventing poverty in retirement.
|Original language||English (US)|
|Number of pages||20|
|Journal||Journal of Financial Counseling and Planning|
|State||Published - Jan 1 1993|