Financial Risk Aversion Among Older Black and White Adults.

ABSTRACT:

Objectives

Risk aversion has a substantial impact on decision making and is associated with key demographic characteristics. However, few studies have investigated whether risk aversion varies by race.

Methods

We investigated racial differences in financial risk aversion in 684 older Black and White adults without dementia in the Minority Aging Research Study and Rush Memory and Aging Project matched for age, education, sex, and cognition using Mahalanobis distance. We also investigated whether select contextual factors (self-reported discrimination, socioeconomic status, and literacy) mediated or affective factors (trust, loneliness, and neuroticism) moderated any observed racial differences.

Results

In regression models adjusted for age, education, sex, and cognitiv

SUBMITTER: Han SD 

PROVIDER: S-EPMC10824163 | biostudies-literature | 2024 Feb

REPOSITORIES: biostudies-literature