Wealth, Debt, and Cognitive and Self-Care Difficulty Among Older Americans
Author Information
Author(s): Sheehan Connor, Jang Jiwon, Saenz Joseph, Connor Dylan
Primary Institution: Arizona State University
Hypothesis
Wealth and debt significantly impact cognitive and self-care difficulties in Americans aged 65 and older.
Conclusion
Wealth is more strongly associated with cognitive and self-care difficulties than education or income, and debt increases the likelihood of these difficulties.
Supporting Evidence
- Wealth consistently shows stronger associations with cognitive and self-care difficulties than educational attainment or income.
- Cognitive and self-care difficulties decreased with increasing wealth.
- Being in debt nearly doubled the probability of cognitive and self-care difficulties at every age.
Takeaway
Having more money helps older people take care of themselves and think better, while being in debt makes it harder.
Methodology
Used geographic machine learning estimates of wealth linked to the American Community Survey to analyze cognitive and self-care difficulties.
Limitations
The study primarily focuses on wealth and debt without exploring other potential factors affecting cognitive and self-care difficulties.
Participant Demographics
Americans aged 65 and older, with a focus on White Americans and those in areas with concentrated debt.
Digital Object Identifier (DOI)
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