The Cost-Benefit of Aging: Financial Capability and Well-Being across Age Groups in Brazil
Table 4
Regression analyses (n = 412).
Depend
Model 1
Model 2
Model 3
Model 4
Model 5
Behavior
Behavior
Preparedness
Resilience
FWB
Model
HC
HC
HC
HC
HC
Const
2.603
2.664
−0.109
−1.041
−2.332
Behavior
0.049
0.774
0.162
Knowledge
0.225
0.233
PsyFactor1
0.154
0.129
PsyFactor2
0.086
0.088
Grit
−0.017
Resilience future
0.011
Sex
−0.201
−0.227
0.235
0.613
0.133
Age
−0.004
−0.006
0.040
0.006
0.019
School
−0.004
−0.008
−0.049
0.070
−0.030
Income
0.073
0.050
0.180
0.591
0.233
With children
−0.122
−0.074
−0.014
−0.115
−0.063
Lives alone
−0.030
−0.013
−0.071
0.497
0.195
Lives others
−0.174
−0.172
−0.253
0.746
0.125
Main_source_
0.106
0.152
0.021
−0.462
−0.016
Own residence
−0.032
−0.017
0.325
−0.414
0.067
Single parent
−0.191
−0.202
−0.483
−0.952
−0.444
Fin support
−0.075
−0.041
0.009
−0.713
−0.170
Parents_taught
0.074
0.068
0.208
0.492
0.138
Any scheme
−0.133
−0.234
−1.071
−0.296
INSS
0.065
0.188
−0.114
0.040
Public servants
0.063
0.631
−0.278
0.125
Private prev
−0.052
−0.098
0.543
0.059
Private invest
0.092
0.373
1.773
0.568
R2
0.478
0.552
0.262
0.394
0.436
Fc
24.205
21.783
7.750
14.173
16.904
Source: prepared by the authors. Note. HC: heteroscedasticity correction. Model 1 describes the association between behavior, knowledge, PsyFactor1, PsyFactor2, and the socioeconomic variables. Model 2 includes additionally grit, resilience to the future, and retirement contribution as explanatory variables to behavior. Model 3 describes the association between preparedness, behavior, socioeconomic, and retirement contribution variables. Model 4 is similar to the previous one, but resilience is the explained variable, and in model 5 FWB. < 0.1, < 0.05, and < 0.01.