Household wealth and mental health in older adults across racial groups: moderating role of social support

• In Event: 30420 - Section on Racial and Ethnic Minorities Roundtables
  In Refereed Roundtable (60 minute): Table 4: Race, Health, and Inequalities

Abstract

This study examines the relationship between household wealth and mental health outcomes in older adults across racial and ethnic groups, with a focus on the moderating role of social support. While financial security is linked to improved psychological well-being, it remains unclear whether social support buffers the effects of financial strain on loneliness and psychological distress. Using data from the 2020 wave of the Health and Retirement Study, this study analyzed a nationally representative sample of 12,899 older adults. Logistic regression models were estimated separately for Non-Hispanic White, Non-Hispanic Black, and Hispanic older adults, controlling for key demographic and health-related covariates. Loneliness and psychological distress were assessed using validated measures, while household wealth was log-transformed to normalize its distribution. Social support was measured based on the perceived availability of assistance with personal care. The findings indicate that higher household wealth is associated with lower odds of loneliness and psychological distress. Social support independently reduces both loneliness and psychological distress, but it does not significantly moderate the relationship between household wealth and mental health outcomes. The protective effect of wealth on psychological distress is strongest among Non-Hispanic Black older adults, followed by Hispanic and Non-Hispanic White individuals. These findings suggest that financial security plays a critical role in shaping mental health outcomes in later life, with racial and ethnic differences in the extent of its protective effects. While social support remains an important resource for mental well-being, it does not appear to buffer the effects of financial strain on loneliness or psychological distress across racial and ethnic groups. These results highlight the need for policies aimed at addressing wealth disparities and mental health interventions tailored to the unique financial and social challenges faced by older adults in different racial and ethnic communities.

Author

• Sunkanmi Adams Folorunsho, University of Nebraska-Lincoln