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Empirical evidence connecting financial capability to economic well-being in old age remains limited. This population-based U.S. study analyzes 12,840 adults aged 50+ from the 2018 National Financial Capability Study using structural equation modeling and multigroup comparisons. Financial literacy and access show positive associations with financial behavior and later economic well-being; both contribute equally through mediation, with no age moderation effects. Results support multifaceted strategies, integrating coaching, credit counseling, and financial profile assessments, and expanding financial inclusion via suitable accessible products for underserved groups.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/financial-capability-and-economic-well-being-in-later-life-a-population-based-study/427454/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/financial-capability-and-economic-well-being-in-later-life-a-population-based-study/427454.png","ImageObject",300,407,{"name":92,"@type":93},"Levi","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-11","2026-09-29",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is the focus of this study on financial capability?","Question",{"text":113,"@type":114},"The study examines the components and mechanisms in the financial capability framework and how they relate to economic well-being in later life.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What data and methods were used?",{"text":118,"@type":114},"It uses nationally representative U.S. data from the 2018 National Financial Capability Study, analyzing 12,840 individuals aged 50+ with structural equation modeling and multigroup comparisons.",{"name":120,"@type":111,"acceptedAnswer":121},"How do financial literacy and access affect economic well-being, and does age change the relationship?",{"text":122,"@type":114},"Financial literacy and access are positively associated with financial behavior and subsequent economic well-being. Mediation results indicate they contribute equally, and age does not moderate these associations between middle-aged and older adults.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},427454,1791211589,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":8,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":81},7971461740909,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","684 Innovation in Aging, 2025, Vol. 9, No. S2  \nAbstract citation ID: igaf122.2333  \nFINANCIAL CAPABILITY AND ECONOMIC  \nWELL-BEING IN LATER LIFE: A  \nPOPULATION-BASED STUDY  \nYu-Chih Chen, National Taiwan University, Taipei, Taipei, Taiwan (Republic of China)  \nFinancial capability, the interaction of financial literacy, access, and behavior, can influence individuals’ ability to manage finances and build economic stability over the life course.  \nHowever, empirical evidence linking financial capability and economic well-being in old age is limited. We examine the components and mechanisms of the financial capability framework and investigate the differences between middle-aged (aged 50–64) and older adults (aged 65+) using nationally representative data in the United States. 12,840 individuals aged 50 and over were selected from the population-based 2018 National Financial Capability Study. Structural equation modeling and multigroup comparison were used to examine the mechanisms of financial capability on economic well-being and the moderating effects of age. Results showed that financial literacy and access were positively associated with financial behavior and subsequent economic well-being. The mediation results showed that financial literacy and access were equally important in contributing to economic well-being in later life. However, age had no moderating effect, suggesting these associations operated similarly in middle-aged and older adults. Findings suggest that strategies to promote economic well-being in later life through effective finance should be multifaceted, targeting each aspect of financial capability. Practices such as financial coaching and guidance, credit counseling, and financial profile assessments should be integrated into human and social services. Policies and programs that expand financial inclusion, particularly investments in accessible and appropriate financial products, should be developed to reach and cover the financially underserved, especially those with limited financial literacy and restricted access to mainstream financial services.","cbCaidUXFWeFAic8","https://ap.wps.com/l/cbCaidUXFWeFAic8","pdf",627544,"English","# Abstract\n## Background and research gap\n## Data and methods\n## Key findings\n## Implications for practice and policy","[{\"question\":\"What is the focus of this study on financial capability?\",\"answer\":\"The study examines the components and mechanisms in the financial capability framework and how they relate to economic well-being in later life.\"},{\"question\":\"What data and methods were used?\",\"answer\":\"It uses nationally representative U.S. data from the 2018 National Financial Capability Study, analyzing 12,840 individuals aged 50+ with structural equation modeling and multigroup comparisons.\"},{\"question\":\"How do financial literacy and access affect economic well-being, and does age change the relationship?\",\"answer\":\"Financial literacy and access are positively associated with financial behavior and subsequent economic well-being. Mediation results indicate they contribute equally, and age does not moderate these associations between middle-aged and older adults.\"}]","FINANCIAL CAPABILITY AND ECONOMIC WELL-BEING IN LATER LIFE: A POPULATION-BASED STUDY | PDF",1790643901]