Aging alone and financial insecurity predict depression: a path analysis of objective and subjective indices

Abstract

Objectives

This study draws on conservation of resources theory and transactional stress theory to guide our understanding of how social isolation, financial insecurity, and social support serve as a balance of both risk and protection for late-life depression.

Methods

Data were from the Leave-Behind Questionnaire in the 2016 (N = 4293) and 2018 (N = 4714) waves of the Health and Retirement Study. We conducted a cross-sectional path analysis via structural equation modeling, including objective and subjective perspectives. The same model was tested in both samples.

Results

Both social isolation and financial insecurity were associated with depression. We found several mediating risks and protective factors of these relationships. Objective financial status affected depression through both perceived financial insecurity and perceived social isolation, whereas objective isolation affected depression through perceived social support. This mediation model was ­significant after adjusting for confounders.

Conclusion

This study underscores the importance of investigating the balance between risk and protection for depression, in the rising number of older adults aging alone in society. Findings suggest that objective and perceived measures offer unique windows into psychological constructs. Considering both objective and subjective perspectives may provide alternative targets for subsequent interventions to improve mental health in later life.

Keywords:

• Depressive symptoms
• financial insecurity
• living alone
• social isolation
• social support

Disclosure statement

The authors report there are no competing interests to declare.

Statement on ethical approval

We used the public data of the HRS which was approved by the Institutional Review Board (IRB) at the University of Michigan and all respondents provided informed consent.

Additional information

Funding

This research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors. This study used data from the Health and Retirement Study (HRS), a public use dataset produced and distributed by the University of Michigan with funding from the National Institute on Aging [grant number NIA U01AG009740].