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The purpose of this study was to attempt to explain why race differences emerge in examinations of life satisfaction among older adults retired from the work force. A conceptual model was developed and tested with data provided by 1,156 older Black and White individuals. The findings from this nationwide survey reveal that older Blacks have lower levels of life satisfaction than elderly Whites and that these differences may be attributed to the interplay between past aspirations and plans (as reflected by educational attainment and economic retirement plans) and present financial circumstances (as assessed by current financial strain and economic dependence on family members).
Neal Krause (Wed,) studied this question.