The Cost-Benefit of Aging: Financial Capability and Well-Being across Age Groups in Brazil

Table 2

Descriptive analysis (n = 412).

Alternatives	Frequency (%)	N
Gender
Female	57.52	237
Male	42.48	175
Home location
Center-west	61.89	255
Other	38.11	157
Employment status
Retired	13.11	54
Unemployed and looking for work	2.67	11
Housewife	0.97	4
Student	1.94	8
Not working due to long-term illness, disability, or other reason	0.49	2
Partially retired	3.64	15
Civil servant	34.95	144
Self-employed or entrepreneur	20.87	86
Work with a registered job in the private sector or third sector	21.36	88
Schooling
Incomplete elementary school	0.00	0
Complete elementary school	0.49	2
Incomplete high school	0.49	2
Complete high school	4.13	17
Incomplete higher education	7.28	30
Complete higher education	19.66	81
Postgraduation (lato sensu)	31.31	129
Incomplete master’s degree	4.13	17
Complete master’s degree	15.29	63
Incomplete doctorate	6.31	26
Complete doctorate	10.92	45
Income
Far below average	5.34	22
Below average	4.85	20
Average	21.84	90
Above average	33.74	139
Way above average	34.22	141
Family type
Couple with children or dependents	49.27	209
Lives alone	17.72	73
Lives with parents or other relatives/friends	32.52	134
You are the main source of your family income	54.3	224
You live in your own residence	71.36	294
You are a single parent	16.50	68
You have access to financial support from friends and family	38.11	157
Your parents talked about managing money or saving when you were a child	49.27	203
Retirement contribution
I do not contribute to any scheme	11.89	49
I contribute to the general social security system (INSS)	50.24	207
I contribute to the public servant’s pension plan (private system)	34.95	144
I contribute to a supplementary pension plan	23.54	97
I have investments to secure my old age	35.44	146

Source: prepared by the authors.