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Deprecated: Implicit conversion from float 245.2 to int loses precision in C:\Inetpub\vhosts\kidney.de\httpdocs\pget.php on line 534 Psychol+Aging 2015 ; 30 (1): 120-35 Nephropedia Template TP
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When Does Money Matter Most? Examining the Association between Income and Life Satisfaction over the Life Course #MMPMID25621741
Cheung F; Lucas RE
Psychol Aging 2015[Mar]; 30 (1): 120-35 PMID25621741show ga
Previous 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 three 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) compared to individuals who were younger or older.