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Late-life physical and mental conditions are produced by the experiences of an individual during critical developmental periods. In this study, we aim to investigate the association of childhood financial status with life satisfaction among older population in India. We also explore the moderating role of gender and education in such association. Data for this study were derived from the Longitudinal Ageing Study in India (LASI) conducted during 2017–18. Descriptive statistics along with cross-tabulation were presented in the study. Additionally, multivariate linear regression analyses were conducted to find out the associations of childhood financial status and other explanatory variables with life satisfaction. A proportion of 28.96% older men and 32.54% older women had low life satisfaction, whereas, 44.45% older men and 41.77% older women reported poor childhood financial status. The poor childhood financial status after controlling for various individual-, health-, and household-related factors, was significantly negatively associated with life satisfaction (β= -0.11; p<0.001). Older women reported higher life satisfaction than older men (β= 0.03; p<0.001). Furthermore, we found that older men (β= -0.07; p<0.001) and women (β= -0.08; p<0.001) with poor childhood financial status reported significantly lower life satisfaction than older men with good childhood financial status. It is also revealed that older adults with good childhood financial status and a secondary (B = 3.9; 95% CI: 3.0, 4.7) or higher education (B = 3.7; 95% CI: 2.6, 4.7) had nearly 4 units of increased levels of life satisfaction in comparison to older adults with poor childhood financial status and no education. The results highlight that the psychological well-being of an older person can be a function of his or her childhood financial status and education plays an important role in such association.
Muhammad et al. (Fri,) studied this question.