Financial Mistreatment and Depressive Symptoms in Later Life: A Pathway Through Perceived Stress

Although financial mistreatment is recognized as a significant threat to older adults’ well-being, limited research has examined the psychosocial mechanisms through which these experiences may contribute to depressive symptoms in later life. Guided by the Stress Appraisal Model, this study examined the association between financial mistreatment and depressive symptoms among older adults and assessed the mediating role of perceived stress. As an exploratory objective, we also examined whether this indirect pathway differed by age, sex, and race/ethnicity. Data were drawn from Round 3 (2015–2016) of the National Social Life, Health, and Aging Project. The analytic sample was 1,751 adults aged 60 and older. Hierarchical regression, mediation, and moderated mediation analyses were conducted. Financial mistreatment and perceived stress were both associated with greater depressive symptoms. Perceived stress mediated this association, indicating that older adults who experienced financial mistreatment reported higher perceived stress, which in turn was associated with greater depressive symptoms. The indirect effect through perceived stress did not differ by age, sex, or race/ethnicity. Findings suggest that perceived stress is a pathway linking financial mistreatment to depressive symptoms in later life and underscore the need for mental health support to help affected older adults manage stress following financial mistreatment.