ArticleThe American journal of geriatric psychiatry : official journal of the American Association for Geriatric Psychiatry2021
Adverse Impacts of Declining Financial and Health Literacy in Old Age.
Article in The American journal of geriatric psychiatry : official journal of the American Association for Geriatric Psychiatry, 2021. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 9 papers.
What it found
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The trial behind it
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Who cites it
9 citing papers in PubMed.
- Financial Decision-Making, Financial Literacy, and Cognitive Function: Evidence From the PATH Through Life Study.International journal of geriatric psychiatry · 2026Article
- APOE ε4 and Decline in Health and Financial Literacy in Advanced Age.Journal of the American Geriatrics Society · 2026Article
- Measures of healthcare decision-making ability in cognitive aging: a scoping review from the Advancing Reliable Measurement in Cognitive Aging and Decision-Making Ability (ARMCADA) research initiative.Frontiers in public health · 2025Article
- Differential correlations of changes in in vivo neuroimaging markers of hippocampal volume and arteriolosclerosis with declining financial and health literacy in old age.Brain imaging and behavior · 2024Article
- Can Changes in Financial Performance Be Used in the Diagnosis of Neurocognitive Disorders? A Systematic Review of Findings from Greece.Brain sciences · 2024Review
- Well-Being and Aging-Related Decline in Financial and Health Literacy in Advanced Age.The journals of gerontology. Series B, Psychological sciences and social sciences · 2023Article
- Financial Fraud and Deception in Aging.Advances in geriatric medicine and research · 2023Article
- Understanding the role of financial health literacy in midlife and old age: A scoping review.Health & social care in the community · 2022Article
- Do Health Information Sources Influence Health Literacy among Older Adults: A Cross-Sectional Study in the Urban Areas of Western China.International journal of environmental research and public health · 2022Article
Corrections and comments
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Authors and funding
4 authors.
Funding
Abstract
objectivesInadequate financial and health literacy presents a formidable public health and economic challenge in old age. This study investigated declining financial and health literacy in relation to decision making performance, scam susceptibility and psychological wellbeing.
designLongitudinal study.
settingA community-based cohort in Northeastern Illinois, USA.
participantsOne thousand fourty-six older adults who were free of dementia at baseline and underwent annual clinical and literacy assessments. MEASUREMENTS: Financial and health literacy, decision making, scam susceptibility, and psychological wellbeing were assessed using validated instruments. Linear mixed effects models estimated person-specific rates of change in financial and health literacy, and multivariable regression analyses examined the associations of declining literacy with subsequent levels of decision making, scam susceptibility, and psychological wellbeing.
resultsThe mean age was 81 years and 76% were female. Over up to 10 years of annual follow-ups, the average financial and health literacy score dropped 1 percentage point a year. Substantial variability in decline was observed between participants. Faster decline in financial and health literacy was associated with poorer decision making, higher scam susceptibility, and lower psychological wellbeing. Notably, these associations were above and beyond the baseline literacy level and persisted even after controlling for cognition.
conclusionsMost community-dwelling older adults experience decline in financial and health literacy over time, but decline is not inevitable. Declining literacy is related to poorer decision making, greater scam susceptibility and lower wellbeing. These findings suggest that efforts to mitigate declining financial and health literacy may promote independence and wellbeing in old age.
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