Wealth and psychosocial factors among middle-aged and older adults. Findings based on nationally representative data.

AIM

There is very limited knowledge regarding the association between wealth and psychosocial factors among middle-aged and older adults. Therefore, our aim was to clarify the association between wealth and psychosocial outcomes in this age bracket (in terms of satisfaction with life, depressive symptoms, loneliness and perceived social isolation).

METHODS

Nationally representative cross-sectional data were taken from the German Ageing Survey (wave 6 with n = 4,774 aged ≥ 43 years in the analytical sample). The Satisfaction with Life Scale was used to quantify life satisfaction, the De Jong Gierveld tool was used to assess loneliness, the Center for Epidemiological Studies-Depression was used to measure depressive symptoms and the Bude and Lantermann tool was used to assess perceived social isolation. Multiple linear regressions were conducted.

RESULTS

Regressions showed significant differences between individuals in the lowest wealth decile and individuals in the second to ninth wealth decile in all psychosocial outcomes - with the expected signs. Contrarily, only significant differences were determined between individuals in the second to ninth wealth decile and individuals in the highest wealth decile regarding life satisfaction (also with the expected signs). These aforementioned differences were mainly driven by individuals aged 43 to 64 years (and not by individuals aged 65 years and above).

CONCLUSIONS

A relatively low wealth was associated with adverse psychosocial factors, particularly among individuals 43 to 64 years. Such knowledge may assist in addressing middle-aged individuals at risk for more depressive symptoms, higher loneliness and perceived social isolation levels as well as lower life satisfaction scores.