Reconsidering the Relationship between Age and Financial Strain among Older Adults

Bierman, Alex

doi:10.1177/2156869314549675

Cited by 30 publications

(25 citation statements)

References 65 publications

(67 reference statements)

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“…(Hershey, Henkens, & van Dalen, 2009). Few existing country-specific studies seem to verify that financial satisfaction actually decreases at the time of retirement (Berthoud et al, 2009;Bierman, 2014;Bonsang & Klein, 2012;Kesavayuth et al, 2016). This has been the trend in Britain (Berthoud et al, 2009) and…”

Section: Retirement Routes and Previous Research On Subjective Econommentioning

confidence: 99%

“…This study focuses on the effect of retirement on subjective economic well-being. Typically the research considers, in one way or another, age and cohort differences as alternative explanations for old-age people's financial satisfaction (Bierman, 2014;Hansen et al, 2008). Instead of this distinction, we contrast ageing with the event of retirement.…”

Section: Retirement Routes and Previous Research On Subjective Econommentioning

confidence: 99%

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Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Palomäki

2018

Soc Indic Res

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the main finding being old-age people's paradoxically high financial satisfaction with relatively low income levels (Hansen, Slagsvold, & Moum, 2008). These studies are mainly crosssectional, which leaves unanswered many of the questions on how changes over time, such as retirement and ageing combined with income change affect financial satisfaction. Retirement has been hypothesized as causing either more or less deprivation than the changes in income would lead one to suspect (Berthoud, Blekesaune, & Hancock, 2009). According to the traditional line of thought, retirement occurs from full-time work to full-time old-age retirement. In reality the transition into old-age retirement takes place through different pathways. Most people in European countries transit from work into old-age retirement between the ages of 50 to 69. But for one in five the path is different, either because they transit into retirement from other statuses or do not actually consider themselves to be retired. (Eurostat, 2015). Older people's decision to withdraw from the labour market is shaped by the institutional setting of social protection domains (pensions, disability and employment), but also by individual and contextual factors (Debrand & Sirven, 2009), creating "pull" and "push" incentives for retirement (e.g. Hofäcker & Unt, 2013). The exit pathways from the labour market are shown to affect short-term life satisfaction (Wetzel, Huxhold, & Tesch-Römer, 2016), but the route in itself has not shown any independent effects on post-retirement health (Halleröd, Örestig, & Stattin, 2013) or later life overall (Hyde, Ferrie, Higgs, Mein, & Nazroo, 2004). Against this background, it is also essential to specify the association between retirement routes and financial satisfaction. This study explores the effect of retirement on individuals' subjective economic well-being in European countries. We distinguish between three different retirement routes, measured with preceding basic activity statuses. The study focuses on the experiences of those who worked and of those who were unemployed before retirement. People with different labour market statuses generally enjoy different levels of well-being, and retirement might have adverse consequences in relation to income level changes and perceived income adequacy. The goal is to find out how different retirement routes are associated with the perceived income adequacy and whether possible differences can be explained with different levels of income change. Retirement is analysed with EU-Silc panel data using individual fixed-effect models. Results are indicative of the short-term effects of different retirement pathways on subjective economic well-being. The following sections present, firstly, the relevant literature on the subject; secondly, the aim of the study, data, measures and methods; thirdly, the results; and finally, a conclusion and discussion of the results.

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Section: Retirement Routes and Previous Research On Subjective Econommentioning

confidence: 99%

Section: Retirement Routes and Previous Research On Subjective Econommentioning

confidence: 99%

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Palomäki

2018

Soc Indic Res

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“…First, age has a significant, non-linear effect on subjective status injustice; status injustice increases up until age 50, but then decreases with age. Age effects, of course, may also reflect cohort effects (Bierman, 2014), making it difficult to interpret them. We speculate, though, that age-graded expectations about status attainment may peak around middle age when people expect to attain major economic and occupational goals.…”

Section: Measurementmentioning

confidence: 99%

Opportunity beliefs and class differences in subjective status injustice during the Great Recession in Iceland

Oddsson

Bernburg

2017

Acta Sociologica

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Sociologists theorize that opportunity beliefs shape whether individuals see their status in society as just or unjust-a topic that is broadly relevant to research linking social structure to emotions and behaviors. Two prominent theories, however, entail competing propositions. The dominant ideology thesis suggests that believing in opportunity barriers increases subjective status injustice, especially for lower class individuals. In contrast, relative deprivation theory implies that believing in restricted opportunities deters upward comparison among the lower classes, potentially reducing class differences in subjective status injustice. Relationships between class position, opportunity beliefs, and subjective status injustice were studied using survey data gathered during the Great Recession in Iceland. The findings indicate that beliefs in opportunity barriers are widespread, yet few see their social status as unjust. Moreover, only opportunity barriers stemming from political ties and gender increase subjective status injustice, especially so in the case of political ties among lower class individuals. It is likely that this latter sentiment was made particularly significant during the recession by an intense moral discourse condemning nepotism and cronyism. Because these two opportunity constraints are widely condemned in Iceland, we suggest that only opportunity barriers defined as social problems in a given society are salient enough to influence status justice evaluations.

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“…Longitudinal research indicating that sleep problems increase throughout the latter half of life suggests that the consequences of work dissatisfaction for sleep problems will be stronger as individuals age. Yet, recent research indicates that birth cohort effects can play a substantial role in the stress process (Bierman, 2014), with the result that cross-sectional analyses which examine age differences without taking these cohort effects into account often confound age and cohort effects (e.g., Mirowsky & Ross, 2008). However, longitudinal methods can be used to differentiate age and birth cohort effects, and an additional important area for longitudinal research is in examining how the association between work stress and sleep problems varies by both age and birth cohort.…”

Section: Future Directions and Conclusionmentioning

confidence: 99%

Work Dissatisfaction and Sleep Problems among Canadians in the Latter Half of Life

Brown

Bierman

2017

Can. J. Aging

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This study examined the relationship between work dissatisfaction and sleep problems among Canadian adults in the latter half of life, as well as how gender and social contact moderate this relationship. Data were obtained from the Canadian General Social Survey, Cycle 21 (2007), which sampled adults aged 45 and older in 2007. Analyses focused on individuals with employment as their main activity. Analyses show that work dissatisfaction positively predicts trouble sleeping. There are no significant gender differences in this relationship. Social contact with friends buffers this relationship, but social contact with family does not, and buffering does not vary significantly between men and women. This research contributes to knowledge on sleep problems by showing that work dissatisfaction is adversely associated with sleep problems among Canadians in the latter half of life, but social contact with friends can weaken this deleterious relationship.

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Reconsidering the Relationship between Age and Financial Strain among Older Adults

Cited by 30 publications

References 65 publications

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Does It Matter How You Retire? Old-Age Retirement Routes and Subjective Economic Well-Being

Opportunity beliefs and class differences in subjective status injustice during the Great Recession in Iceland

Work Dissatisfaction and Sleep Problems among Canadians in the Latter Half of Life

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