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FINANCIAL HARDSHIPS AND DEPRESSIVE SYMPTOMS DURING COVID: THE MODERATING ROLE OF RESILIENCE
Abstract Financial hardships during COVID (FHDC) are a particularly salient stressor that older people faced during the pandemic. Financial stress is associated with increased depressive symptoms and may be especially consequential to mental health among older people who have fewer resources (i.e.,...
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Published in: | Innovation in aging 2022-12, Vol.6 (Supplement_1), p.831-831 |
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creator | Helppie-McFall, Brooke Carr, Dawn Taylor, Miles Sonnega, Amanda |
description | Abstract
Financial hardships during COVID (FHDC) are a particularly salient stressor that older people faced during the pandemic. Financial stress is associated with increased depressive symptoms and may be especially consequential to mental health among older people who have fewer resources (i.e., financially vulnerable). Recent evidence shows that psychological resilience has important protective effects for mental health among older adults who experience major stressors. This study, based on the recently released full 2020 core wave of the Health and Retirement Study, examines the association between having experienced one or more major financial setbacks following the start of the pandemic and depressive symptoms. We evaluate the consequences of FHDC for mental health, how FHDC are associated with previous financial vulnerability, and the role of psychological resilience in shaping the effects of FHDC. Results show that having experienced FHDC is associated with an increase in depressive symptoms. In addition, reporting financial vulnerabilities four years prior to the pandemic was also associated with increased depressive symptoms. Finally, psychological resilience was associated with a significant, protective effect on depressive symptoms, and moderated the consequences of FHDC. Specifically, we find that those who had FHDC and had average or below average resilience experienced significant increases in depressive symptoms, but those with above average resilience did not experience increases in depressive symptoms despite having FHDC, accounting for the consequences of previous financial vulnerabilities. These results suggest that psychological resilience has potential to be a protective resource for mental health consequences of financial stress among older adults. |
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Financial hardships during COVID (FHDC) are a particularly salient stressor that older people faced during the pandemic. Financial stress is associated with increased depressive symptoms and may be especially consequential to mental health among older people who have fewer resources (i.e., financially vulnerable). Recent evidence shows that psychological resilience has important protective effects for mental health among older adults who experience major stressors. This study, based on the recently released full 2020 core wave of the Health and Retirement Study, examines the association between having experienced one or more major financial setbacks following the start of the pandemic and depressive symptoms. We evaluate the consequences of FHDC for mental health, how FHDC are associated with previous financial vulnerability, and the role of psychological resilience in shaping the effects of FHDC. Results show that having experienced FHDC is associated with an increase in depressive symptoms. In addition, reporting financial vulnerabilities four years prior to the pandemic was also associated with increased depressive symptoms. Finally, psychological resilience was associated with a significant, protective effect on depressive symptoms, and moderated the consequences of FHDC. Specifically, we find that those who had FHDC and had average or below average resilience experienced significant increases in depressive symptoms, but those with above average resilience did not experience increases in depressive symptoms despite having FHDC, accounting for the consequences of previous financial vulnerabilities. These results suggest that psychological resilience has potential to be a protective resource for mental health consequences of financial stress among older adults.</description><identifier>ISSN: 2399-5300</identifier><identifier>EISSN: 2399-5300</identifier><identifier>DOI: 10.1093/geroni/igac059.2984</identifier><language>eng</language><publisher>US: Oxford University Press</publisher><subject>Late Breaking Abstracts</subject><ispartof>Innovation in aging, 2022-12, Vol.6 (Supplement_1), p.831-831</ispartof><rights>The Author(s) 2022. Published by Oxford University Press on behalf of The Gerontological Society of America. 2022</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.ncbi.nlm.nih.gov/pmc/articles/PMC9766461/pdf/$$EPDF$$P50$$Gpubmedcentral$$Hfree_for_read</linktopdf><linktohtml>$$Uhttps://www.ncbi.nlm.nih.gov/pmc/articles/PMC9766461/$$EHTML$$P50$$Gpubmedcentral$$Hfree_for_read</linktohtml><link.rule.ids>230,315,733,786,790,891,27957,27958,53827,53829</link.rule.ids></links><search><creatorcontrib>Helppie-McFall, Brooke</creatorcontrib><creatorcontrib>Carr, Dawn</creatorcontrib><creatorcontrib>Taylor, Miles</creatorcontrib><creatorcontrib>Sonnega, Amanda</creatorcontrib><title>FINANCIAL HARDSHIPS AND DEPRESSIVE SYMPTOMS DURING COVID: THE MODERATING ROLE OF RESILIENCE</title><title>Innovation in aging</title><description>Abstract
Financial hardships during COVID (FHDC) are a particularly salient stressor that older people faced during the pandemic. Financial stress is associated with increased depressive symptoms and may be especially consequential to mental health among older people who have fewer resources (i.e., financially vulnerable). Recent evidence shows that psychological resilience has important protective effects for mental health among older adults who experience major stressors. This study, based on the recently released full 2020 core wave of the Health and Retirement Study, examines the association between having experienced one or more major financial setbacks following the start of the pandemic and depressive symptoms. We evaluate the consequences of FHDC for mental health, how FHDC are associated with previous financial vulnerability, and the role of psychological resilience in shaping the effects of FHDC. Results show that having experienced FHDC is associated with an increase in depressive symptoms. In addition, reporting financial vulnerabilities four years prior to the pandemic was also associated with increased depressive symptoms. Finally, psychological resilience was associated with a significant, protective effect on depressive symptoms, and moderated the consequences of FHDC. Specifically, we find that those who had FHDC and had average or below average resilience experienced significant increases in depressive symptoms, but those with above average resilience did not experience increases in depressive symptoms despite having FHDC, accounting for the consequences of previous financial vulnerabilities. These results suggest that psychological resilience has potential to be a protective resource for mental health consequences of financial stress among older adults.</description><subject>Late Breaking Abstracts</subject><issn>2399-5300</issn><issn>2399-5300</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2022</creationdate><recordtype>article</recordtype><recordid>eNpVkFFrgzAUhcPYYKXrL9hL_oBtYqI1exiIpjVgtagtjD2EJNXO0dai22D_fkrL2B4u93Av53D4AHjEaIoRI7N92TanelbvlUEOm9rMozdgZBPGLIcgdPtH34NJ170jhDAjlFF7BF4XIvGTQPgxjPwszCOxzqGfhDDk64znudhymL-s1kW6ymG4yUSyhEG6FeETLCIOV2nIM78Yrlkac5guYO8SseBJwB_AXaUOXTm57jHYLHgRRFacLkXgx5bBlFIL75B2sdu30g7Fhmnm4V5oRShBFbWZo4zRjvKGmc9tg5FB1PacnVdppCgZg-dL7vlTH8udKU8frTrIc1sfVfstG1XL_59T_Sb3zZdkc9elLu4DyCXAtE3XtWX168VIDozlhbG8MpYDY_IDZAxrTg</recordid><startdate>20221220</startdate><enddate>20221220</enddate><creator>Helppie-McFall, Brooke</creator><creator>Carr, Dawn</creator><creator>Taylor, Miles</creator><creator>Sonnega, Amanda</creator><general>Oxford University Press</general><scope>AAYXX</scope><scope>CITATION</scope><scope>5PM</scope></search><sort><creationdate>20221220</creationdate><title>FINANCIAL HARDSHIPS AND DEPRESSIVE SYMPTOMS DURING COVID: THE MODERATING ROLE OF RESILIENCE</title><author>Helppie-McFall, Brooke ; Carr, Dawn ; Taylor, Miles ; Sonnega, Amanda</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c1444-1d0b616000b541c9b981541ba3430f4295accb5a8b5a8772c10c04285d8fb0a43</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2022</creationdate><topic>Late Breaking Abstracts</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Helppie-McFall, Brooke</creatorcontrib><creatorcontrib>Carr, Dawn</creatorcontrib><creatorcontrib>Taylor, Miles</creatorcontrib><creatorcontrib>Sonnega, Amanda</creatorcontrib><collection>CrossRef</collection><collection>PubMed Central (Full Participant titles)</collection><jtitle>Innovation in aging</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Helppie-McFall, Brooke</au><au>Carr, Dawn</au><au>Taylor, Miles</au><au>Sonnega, Amanda</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>FINANCIAL HARDSHIPS AND DEPRESSIVE SYMPTOMS DURING COVID: THE MODERATING ROLE OF RESILIENCE</atitle><jtitle>Innovation in aging</jtitle><date>2022-12-20</date><risdate>2022</risdate><volume>6</volume><issue>Supplement_1</issue><spage>831</spage><epage>831</epage><pages>831-831</pages><issn>2399-5300</issn><eissn>2399-5300</eissn><abstract>Abstract
Financial hardships during COVID (FHDC) are a particularly salient stressor that older people faced during the pandemic. Financial stress is associated with increased depressive symptoms and may be especially consequential to mental health among older people who have fewer resources (i.e., financially vulnerable). Recent evidence shows that psychological resilience has important protective effects for mental health among older adults who experience major stressors. This study, based on the recently released full 2020 core wave of the Health and Retirement Study, examines the association between having experienced one or more major financial setbacks following the start of the pandemic and depressive symptoms. We evaluate the consequences of FHDC for mental health, how FHDC are associated with previous financial vulnerability, and the role of psychological resilience in shaping the effects of FHDC. Results show that having experienced FHDC is associated with an increase in depressive symptoms. In addition, reporting financial vulnerabilities four years prior to the pandemic was also associated with increased depressive symptoms. Finally, psychological resilience was associated with a significant, protective effect on depressive symptoms, and moderated the consequences of FHDC. Specifically, we find that those who had FHDC and had average or below average resilience experienced significant increases in depressive symptoms, but those with above average resilience did not experience increases in depressive symptoms despite having FHDC, accounting for the consequences of previous financial vulnerabilities. These results suggest that psychological resilience has potential to be a protective resource for mental health consequences of financial stress among older adults.</abstract><cop>US</cop><pub>Oxford University Press</pub><doi>10.1093/geroni/igac059.2984</doi><tpages>1</tpages><oa>free_for_read</oa></addata></record> |
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title | FINANCIAL HARDSHIPS AND DEPRESSIVE SYMPTOMS DURING COVID: THE MODERATING ROLE OF RESILIENCE |
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