The material resources and well-being of older people

Author:
JOSEPH ROWNTREE FOUNDATION
Publisher:
Joseph Rowntree Foundation
Publication year:
2006
Pagination:
4p.
Place of publication:
York

Older people with low levels of material resources were over-represented by women, those living alone, people who are widowed, divorced or separated, in poor health, with lower education and living in deprived neighbourhoods. Although older respondents (for example, those over 75 years) had fewer material resources than others they tended to be satisfied with their financial situation. This may represent adaptation to a financial situation that may not easily be changed, but did not indicate that they were receiving an income that adequately meets their financial needs. In other words, many older households may have been putting on a happy face in order to cope with the inescapable reality of everyday life. Material resources were partially determined by being employed but this was not important for financial well-being (satisfaction with resources). Material resources were partially determined by having an occupational pension but this was less important to financial well-being. A private source of income, including from a business, rent, interest and insurance payments, was a dimension of material resources and had a positive influence on financial satisfaction. Low levels of material resources had a negative impact on the life satisfaction of older people.

Subject terms:
occupational pensions, older people, personal finance, poverty;
Content type:
research
Location(s):
United Kingdom
Link:
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Series name:
(Findings; February 2006, Ref. 116)
ISBN print:
0958 3084

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