Purpose — Preserving sufficient financial assets is crucial for maintaining the standard of living. The lack of adequate financial cushion can translate into financial hardship at any age, but its effects can be especially severe in later adulthood. The authors evaluate whether financial literacy can prevent individuals from depleting the stock of liquid financial assets below a predefined minimum level. To this end, the authors applied the multivariate Cox proportional hazards model with time-varying covariates.
Findings — The authors show that financial literacy plays a protective role for financial resilience. Its role is not symmetrical and protects more against the loss of financial resilience than it contributes to the gain of financial resilience. Among individuals aged 65—74, the association between financial literacy and financial resilience is weaker than among adults in the middle-age and among the oldest 75þ. Social implications - Fostering financial literacy can be important to help middle-aged and older adults maintain a good quality of life and favorable living standards.
Skocz do treści. Research publications. The role of financial literacy for financial resilience in middle-age and older adulthood. Simple view. Full metadata view. International Journal of Bank Marketing.
Bialowolski Piotr. Cwynar Andrzej. Węziak-Białowolska Dorota. Keywords in English. Na publikacji autorka podpisana: Dorota Weziak-Bialowolska. Journal language. Abstract in English. Scopus© citations. Wydział Filozoficzny.
Węziak-Białowolska, Dorota. No affiliation. Bialowolski, Piotr. Cwynar, Andrzej. Views Views per month. Views per city Tainan City. Cagayan de Oro. Council Bluffs. Davao City. Hong Kong. Lipa City. No access. No Thumbnail Available. Collections Research publications. Węziak-Białowolska, Dorota - Dziedzina nauk społecznych : nauki socjologiczne. Dodaję tylko opis bibliograficzny. Bez licencji otwartego dostępu.
