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The association between objective income and subjective financial need and depressive symptoms in South Koreans aged 60 and older

 Woorim Kim  ;  Tae Hyun Kim  ;  Tae‐Hoon Lee  ;  Yeong Jun Ju  ;  Eun‐Cheol Park 
 PSYCHOGERIATRICS, Vol.17(6) : 389-396, 2017 
Journal Title
Issue Date
Aged ; Aged, 80 and over ; Anxiety Disorders/economics* ; Anxiety Disorders/epidemiology ; Depression/diagnosis* ; Depression/psychology ; Female ; Humans ; Income* ; Male ; Middle Aged ; Poverty* ; Republic of Korea ; Social Class* ; Socioeconomic Factors
ageing population ; chronic disease ; income ; late-life depression ; perceived income adequacy
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 Korean Retirement and Income Study were used. A total of 4891 individuals aged 60 and older were included at baseline. The Generalized Estimating Equation 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 Center for Epidemiological Studies Depression 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.
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Appears in Collections:
1. College of Medicine (의과대학) > Dept. of Preventive Medicine (예방의학교실) > 1. Journal Papers
4. Graduate School of Public Health (보건대학원) > Graduate School of Public Health (보건대학원) > 1. Journal Papers
Yonsei Authors
Kim, Tae Hyun(김태현) ORCID logo https://orcid.org/0000-0003-1053-8958
Park, Eun-Cheol(박은철) ORCID logo https://orcid.org/0000-0002-2306-5398
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