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Article: When Does Money Matter Most? Examining the Association between Income and Life Satisfaction over the Life Course.

TitleWhen Does Money Matter Most? Examining the Association between Income and Life Satisfaction over the Life Course.
Authors
Issue Date2015
PublisherAmerican Psychological Association. The Journal's web site is located at http://www.apa.org/journals/pag.html
Citation
Psychology and Aging, 2015, v. 30 n. 1, p. 120-135 How to Cite?
AbstractPrevious research shows that the correlation between income and life satisfaction is small to medium in size. We hypothesized that income may mean different things to people at different ages and, therefore, that the association between income and life satisfaction may vary at different points in the life course. We tested this hypothesis in 3 nationally representative panel studies. Multilevel modeling techniques were used to test whether age moderated both the within- and between-person associations. Consistent with past research, we found that individuals who earned more on average and individuals who earned more over time reported higher levels of life satisfaction. Importantly, these effects were strongest for midlife individuals (those in their 30s–50s) as compared with individuals who were younger or older.
Persistent Identifierhttp://hdl.handle.net/10722/217928
ISSN
2015 Impact Factor: 2.725
2015 SCImago Journal Rankings: 1.788

 

DC FieldValueLanguage
dc.contributor.authorCheung, CKF-
dc.contributor.authorLucas, REL-
dc.date.accessioned2015-09-18T06:18:29Z-
dc.date.available2015-09-18T06:18:29Z-
dc.date.issued2015-
dc.identifier.citationPsychology and Aging, 2015, v. 30 n. 1, p. 120-135-
dc.identifier.issn0882-7974-
dc.identifier.urihttp://hdl.handle.net/10722/217928-
dc.description.abstractPrevious research shows that the correlation between income and life satisfaction is small to medium in size. We hypothesized that income may mean different things to people at different ages and, therefore, that the association between income and life satisfaction may vary at different points in the life course. We tested this hypothesis in 3 nationally representative panel studies. Multilevel modeling techniques were used to test whether age moderated both the within- and between-person associations. Consistent with past research, we found that individuals who earned more on average and individuals who earned more over time reported higher levels of life satisfaction. Importantly, these effects were strongest for midlife individuals (those in their 30s–50s) as compared with individuals who were younger or older.-
dc.languageeng-
dc.publisherAmerican Psychological Association. The Journal's web site is located at http://www.apa.org/journals/pag.html-
dc.relation.ispartofPsychology and Aging-
dc.rightsPsychology and Aging. Copyright © American Psychological Association.-
dc.rightsThis article may not exactly replicate the final version published in the APA journal. It is not the copy of record.-
dc.titleWhen Does Money Matter Most? Examining the Association between Income and Life Satisfaction over the Life Course. -
dc.typeArticle-
dc.identifier.doi10.1037/a0038682-
dc.identifier.pmid25621741-
dc.identifier.hkuros247947-
dc.identifier.volume30-
dc.identifier.issue1-
dc.identifier.spage120-
dc.identifier.epage135-
dc.publisher.placeUnited States-

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