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The association between objective income and subjective financial need and depressive symptoms in S outh K oreans aged 60 and older
Author(s) -
Kim Woorim,
Kim Tae Hyun,
Lee TaeHoon,
Ju Yeong Jun,
Park EunCheol
Publication year - 2017
Publication title -
psychogeriatrics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.647
H-Index - 32
eISSN - 1479-8301
pISSN - 1346-3500
DOI - 10.1111/psyg.12262
Subject(s) - depression (economics) , confidence interval , odds ratio , depressive symptoms , demography , medicine , association (psychology) , logistic regression , epidemiology , center for epidemiologic studies depression scale , health and retirement study , household income , psychology , psychiatry , gerontology , cognition , economics , sociology , psychotherapist , macroeconomics , history , archaeology
Aim This study aimed to investigate the effect of the gap between objective income and subjective financial need on depressive symptoms in individuals aged 60 and older. Methods Data from the 2011 and 2013 K orean R etirement and I ncome S tudy were used. A total of 4891 individuals aged 60 and older were included at baseline. The G eneralized E stimating E quation model was used to examine the association between the gap in objective income and subjective financial need and the presence of depressive symptoms, which were measured using the C enter for E pidemiological S tudies D epression Scale. Results Compared to individuals in the middle objective income‐middle subjective financial need group, individuals in the low‐low category (odds ratio ( OR ): 1.30, 95% confidence interval ( CI ): 1.04–1.61) and the low‐middle category ( OR : 1.26, 95% CI : 1.09–1.45) showed a statistically significant higher likelihood of having depressive symptoms. In contrast, participants in the middle‐low ( OR : 0.74, 95% CI : 0.54–0.99), high‐low ( OR : 0.50, 95% CI : 0.34–0.73), high‐middle ( OR : 0.74, 95% CI : 0.63–0.87), and high‐high categories ( OR : 0.74, 95% CI : 0.55–0.99) were less likely to exhibit depressive symptoms. Additionally, the lower likelihood of depressive symptoms found in middle‐ and high‐income groups with lower levels of subjective financial need was strong among individuals with chronic disease. Conclusions Differences in the prevalence of depressive symptoms generally exist between individuals of the same income category depending on perceived income adequacy. Therefore, it is important to consider discrepancies in objective income and subjective financial need when assessing risk factors for depressive symptoms in older populations.