@article {11756,
	title = {Who Decides? Financial Decision-Making Among Older Couples},
	journal = {Journal of Family and Economic Issues},
	volume = {43},
	year = {2022},
	pages = {310{\textendash}337},
	abstract = {Using a sample of 2621 respondents from the 2014 Health and Retirement Study (HRS), this study identifies factors associated with who makes complex financial decisions among older couples. Our results show that the bargaining power of wives has a positive association with their decision-making about savings, investments, and health insurance, while the power of husbands is negatively associated with wives being more responsible for decisions about health insurance and tax filing. Moreover, while the husband{\textquoteright}s sense of control, risk tolerance, and cognitive ability are associated with decisions for all financial decisions, the wife{\textquoteright}s sense of control, risk tolerance, and cognitive ability are related to some financial decisions only. Our results show some moderating roles of the perceived spousal social support, household income, and mother{\textquoteright}s education on the association between the four explanatory variables (bargaining power, sense of control, risk tolerance, and cognitive ability) and who makes the financial decisions. The findings provide potential benefits for older couples who consult financial professionals about financial management.},
	keywords = {Bargaining power, Cognitive Ability, Constraints on self-control, Couples, Financial decisions, Risk tolerance},
	isbn = {1573-3475},
	doi = {10.1007/s10834-021-09775-3},
	author = {Lim, HanNa and Su Hyun Shin and Wilmarth, Melissa J. and Park, Narang}
}
@article {10121,
	title = {The Moderating Role of Depressive Symptoms Between Financial Assets and Bequests Expectation},
	journal = {Journal of Family and Economic Issues},
	volume = {40},
	year = {2019},
	pages = {498{\textendash}510},
	abstract = {This study investigated the association between financial assets and bequests expectation, specifically whether having depression moderated the association. Our sample included 10,340 middle-aged and older Americans from the 2014 Health and Retirement Study. Results from ordinary least squares regression models showed a positive association between financial assets and bequests expectation, whereas a negative association between depression and bequests expectation. Furthermore, a moderating role of depression was revealed. Specifically, the relationship between financial assets and bequests expectation was stronger for individuals with depression than for individuals without depression. Future research and practice should incorporate perspectives of both financial assets and depressive symptoms to more effectively help individuals and families deal their current financial situation as well as identify their estate planning needs. We also discuss public policy implications of the findings.},
	keywords = {Decision making, Depressive symptoms, Financial Health},
	issn = {1058-0476},
	doi = {10.1007/s10834-019-09621-7},
	author = {Shinae L Choi and Wilmarth, Melissa J.}
}
@article {9728,
	title = {Personality and Saving Behavior Among Older Adults},
	journal = {Journal of Consumer Affairs},
	volume = {53},
	year = {2019},
	month = {09/2019},
	pages = {488-519},
	abstract = {This study investigates how psychological characteristics influence saving behavior within a sample of 1,380 U.S. preretirees aged 50{\textendash}70 from the Health and Retirement Study (HRS). Using the 3M Model of Motivation and Personality as a theoretical basis, structural equation model results revealed that financial self-efficacy (FSE) directly explains saving behavior and is central to understanding the link between other psychological characteristics and the saving behavior of older adults. Through higher FSE, increased positive affect and reduced negative affect indirectly supported saving behavior. Moreover, the results revealed personality traits indirectly explained saving behavior. Conscientiousness and extroversion indirectly supported saving behavior; whereas openness to experience and neuroticism indirectly undermined saving behavior. This study connects broad personality traits with saving behavior, which provides information about how older adults{\textquoteright} psychological composition is related to their saving practices.},
	keywords = {Finances, Personality, Retirement Planning and Satisfaction, Saving},
	doi = {10.1111/joca.12199},
	url = {http://doi.wiley.com/10.1111/joca.12199http://onlinelibrary.wiley.com/wol1/doi/10.1111/joca.12199/fullpdfhttps://api.wiley.com/onlinelibrary/tdm/v1/articles/10.1111\%2Fjoca.12199},
	author = {Asebedo, Sarah D. and Wilmarth, Melissa J. and Martin C. Seay and Archuleta, Kristy and Brase, Gary L. and Maurice MacDonald}
}
@article {9320,
	title = {Does How We Feel About Financial Strain Matter for Mental Health?},
	journal = {Journal of Financial Therapy},
	volume = {8},
	year = {2017},
	pages = {63-78},
	abstract = {This study investigated how stress responses to financial strain are related to mental health (i.e., depression) to answer the question: Does how we feel about financial strain matter? Informed by the ABC-X model of family stress and analyzed with data from the Health and Retirement Study (HRS), results reveal that financial strain is significantly related to increased depression; however, financial stress was found to moderate this relationship. Financially strained respondents without a stress response did not have significantly different depression scores than those who were not experiencing financial strain; however, depression scores increased as the stress response to financial strain increased. Consistent with the ABC-X model, results suggest that financial strain is a neutral event until it is processed and interpreted by an individual, with subjective perceptions a more powerful predictor of mental health than objective financial circumstances. These results emphasize an area of synergy for financial and mental health researchers and professionals.},
	keywords = {Depressive symptoms, Financial burden, Mental Health, Stress},
	issn = {19457774},
	doi = {10.4148/1944-9771.1130},
	url = {http://newprairiepress.org/jft/vol8/iss1/5},
	author = {Asebedo, Sarah D. and Wilmarth, Melissa J.}
}
