Abstract
We explore factors leading to depression in later life among 23,816 Europeans aged 50+ in 2008. Data derive from the Survey of Health, Ageing and Retirement in Europe. Health and socioeconomic status in later life are decomposed to direct and indirect effects; adverse experiences are examined as mediators. Results show that all factors over the life-course predict depression. Most childhood circumstances seem more important for men. Stress in adulthood is of greater consequence among women. Concurrent health is very important; financial difficulties affect mainly men. The analysis indicates that financial hardship is strongly mediated through adverse experiences.