Economic Resources and Perceived Social Insecurity among the Elderly

Abstract

In this study, I analyzed the relationship between economic resources and perceived social insecurity among older adults. Asset wealth may decrease the level of perceived social insecurity among older people. However, beyond a certain limit, greater asset holdings are associated with higher levels of perceived social insecurity related to safety. Specifically, older adults with substantial assets tend to report higher levels of perceived insecurity about safety, whereas those with fewer assets show higher levels of perceived insecurity regarding gaps, competition, unfairness, and uncertainty. Given that older adults have few, if any, steady income sources, perceived insecurity about safety among those who possess significant assets is thought to stem from their fear of asset loss. Those with lower asset holdings may experience higher economic insecurity, leading to greater concerns about the future and their ability to cope with risks and uncertainties. These findings underscore the need for enhanced support to help older people stabilize their economic conditions, with a view to lowering their perceived social insecurity and raising the quality of their lives.