Health, Wealth, and Happiness: Financial Resources Buffer Subjective Well-Being After the Onset of a Disability

@article{citeulike:302749, abstract = {We examined the hypothesis that the relationship between financial status and subjective well-being, typically found to be very small in cross-sectional studies, is moderated by health status. Specifically, we predicted that wealth would buffer well-being after the onset of a disability. Using data from the Health and Retirement Study, a longitudinal study of people at and approaching retirement age, we employed within-subjects analyses to test whether wealth measured prior to the onset of a disability protected participants' well-being from some of the negative effects of a new disability. We found support for this hypothesis: Participants who were above the median in total net worth reported a much smaller decline in well-being after a new disability than did participants who were below the median. We also found some evidence that the buffering effect of wealth faded with time, as below-median participants recovered some of their well-being.}, author = {Smith, Dylan M. and Langa, Kenneth M. and Kabeto, Mohammed U. and Ubel, Peter A. }, citeulike-article-id = {302749}, doi = {10.1111/j.1467-9280.2005.01592.x}, issn = {0956-7976}, journal = {Psychological Science}, keywords = {happiness, health, subjective-wellbeing, wealth}, month = {September}, number = {9}, pages = {663--666}, posted-at = {2005-08-25 10:46:34}, priority = {2}, publisher = {Blackwell Publishing}, title = {Health, Wealth, and Happiness: Financial Resources Buffer Subjective Well-Being After the Onset of a Disability}, url = {http://dx.doi.org/10.1111/j.1467-9280.2005.01592.x}, volume = {16}, year = {2005} }

TY - JOUR ID - citeulike:302749 L3 - citeulike-article-id:302749 TI - Health, Wealth, and Happiness: Financial Resources Buffer Subjective Well-Being After the Onset of a Disability JF - Psychological Science VL - 16 IS - 9 SP - 663 EP - 666 PB - Blackwell Publishing SN - 0956-7976 N2 - We examined the hypothesis that the relationship between financial status and subjective well-being, typically found to be very small in cross-sectional studies, is moderated by health status. Specifically, we predicted that wealth would buffer well-being after the onset of a disability. Using data from the Health and Retirement Study, a longitudinal study of people at and approaching retirement age, we employed within-subjects analyses to test whether wealth measured prior to the onset of a disability protected participants' well-being from some of the negative effects of a new disability. We found support for this hypothesis: Participants who were above the median in total net worth reported a much smaller decline in well-being after a new disability than did participants who were below the median. We also found some evidence that the buffering effect of wealth faded with time, as below-median participants recovered some of their well-being. KW - happiness KW - health KW - subjective-wellbeing KW - wealth AU - Smith, Dylan AU - Langa, Kenneth AU - Kabeto, Mohammed AU - Ubel, Peter PY - 2005/09// UR - http://dx.doi.org/10.1111/j.1467-9280.2005.01592.x ER -