Later-Life Physical and Mental Health: The Role of Asset-Debt Trajectories and Childhood Economic Hardship

• In Event: Medical Sociology Section Roundtables
  In Refereed Roundtable (90 minute): Table 8. The Life Course and Health II

Abstract

Despite extensive research on the socioeconomic status-health gradient, the joint influence of long-term asset and debt configurations, alongside childhood economic contexts, remains insufficiently explored. Using data from the Health and Retirement Study (1998–2018), this study identifies four asset-debt trajectories from respondents' 50s to early 70s: (1) low asset/high debt, (2) low asset/low debt, (3) high asset/high debt, and (4) high asset/low debt. Results show that these trajectories are associated with later-life physical health, but not mental health. Individuals with low debt—regardless of asset levels—report better physical health than those with high debt. Notably, childhood economic hardship does not moderate these relationships. These findings underscore the critical role of joint asset-debt patterns in health disparities. Persistently high debt emerges as a primary risk factor for poorer physical health, suggesting that policy interventions should prioritize debt reduction to promote healthy aging and mitigate health inequality among older adults.

Author

• Yu-An Chen, University at Buffalo