THE ASSOCIATION OF SUBJECTIVE AGE AND FINANCIAL EXPLOITATION RISK: SOCIAL SUPPORT AS A MODERATOR

Abstract

Abstract Financial exploitation of older adults bears detrimental physical and psychological consequences. However, little is known regarding factors which may contribute to financial exploitation vulnerability (FEV) among this age-group. In line with the growing awareness of the importance of subjective perceptions of the aging process for older adults’ functioning and well-being, the current work examined the connection between subjective age (i.e., feeling younger/older than one’s chronological age) and FEV, and the possible moderating role of social support on this connection. Data were collected from a convenience sample of 137 Israeli older adults (age range 60-89, M=69.90, SD=6.85, 40.1% male), who completed scales assessing FEV, subjective age, and social support, as well as relevant socio-demographic information. Associations were examined using a hierarchical linear regression model which adjusted for age, sex, education, marital status, and self-rated economic and health status. The main effect of subjective age was not significant (B=1.24, p=0.14), while the main effect of social support was found (B=-1.30, p=.03) indicating that low levels of support were associated with increased FEV, a finding consistent with the literature. The interaction of social support × subjective age was significant (B= -1.17, p= .025), accounting for an additional 4.0% of variance. Older subjective age was associated with increased financial exploitation vulnerability when social support was low, but not when social support was high. Results are interpreted with regard to Socio-Emotional Selectivity Theory and provide initial information pertaining to the relevance of subjective age perceptions to FEV in older adults.