Does Self-control Predict Wealth Creation Among Young Baby Boomers?

Why similar people have different patterns of wealth accumulation is puzzling. The behavioral life-cycle hypothesis indicates self-control is an important aspect of household saving behavior. This study investigated if household wealth creation from 1994 to 2008 could be predicted by self-control among a sample of young baby boomers using National Longitudinal Survey of Youth (NLSY79) data. Variables that significantly predicted 2008 net worth included homeownership, 1994 net worth, income, bankruptcy filing, inheritance, education level, race, marital status, children, retirement planning activities, locus of control, and self-mastery. The addition of self-control predictors to a regression model improved the model’s ability to predict net worth by 1.3 % above and beyond the human capital, financial status, and demographic predictor variables. In total, the model explained 60 % of the variance in net worth. Findings indicated that individuals who invested in their human capital, were homeowners, and had higher self-control, accumulated more wealth.     

Wealth: Determinants of Savings Net Worth and Housing Net Worth of Pre-Retired Households

The objectives of this study are to determine effects of household members' characteristics, financial resources, and attitude toward intergenerational support on change in savings net worth and change in housing net worth. Subsamples of White respondents, Black respondents, and Hispanic respondents were analyzed to identify the effects of race or ethnicity on the dependent variables. Attitude toward intergenerational support was the intervening variable. Change in labor income had a positive impact on change in savings net worth for all three racial or ethnic groups. An additional child in a household and an older age of the household head were likely to decrease the change in savings net worth. Effects of the remaining variables differed by subsample. The effects of labor and nonlabor income were different for the change in savings net worth but not for the change in housing net worth. Some different effects for variables across the three racial or ethnic groups were noted.     

Legal Marriage,Unequal Recognition,and Mental Health Among Same‐Sex Couples

The authors examined whether the perception of unequal relationship recognition ‐ a novel couple‐level minority stressor ‐ has negative consequences for mental health among same‐sex couples. Data were analyzed from a dyadic study of 100 same‐sex couples (200 individuals) in the United States. Being in a legal marriage was associated with lower perceived unequal recognition and better mental health; being in a registered domestic partnership or civil union—but not also legally married—was associated with greater perceived unequal recognition and worse mental health. Actor partner interdependence models tested associations between legal relationship status, unequal relationship recognition, and mental health (nonspecific psychological distress, depressive symptomatology, and problematic drinking), net controls (age, gender, race and ethnicity, education, and income). Unequal recognition was consistently associated with worse mental health, independent of legal relationship status. Legal changes affecting relationship recognition should not be seen as simple remedies for addressing the mental health effects of institutionalized discrimination.     

Understanding Acculturation,Depressive Symptoms,and the Protective Role of Family Involvement Among Latino(a) Immigrant Families

Although the relationship between varying levels of acculturation and depressive symptoms has been established among Latino(a) youth, the positive role of family involvement in relation to depressive symptoms among immigrant Latino(a) families has been studied less. This study draws on a sample of first-generation Latino(a) youth from the Longitudinal Immigrant Student Adaptation Study and explores the relationship between acculturation levels and depressive symptoms, as well as the protective role of family involvement. Although results do not support a relationship between acculturation and depressive symptoms, family involvement was significantly associated with lower depressive symptoms while taking important sociodemographic variables into consideration. Research and practice implications with Latino(a) immigrant families are discussed.     

The effects of perceived locus of control and perceived income adequacy on satisfaction with financial status of rural households

The purpose of this study is to examine the relationships among selected socioeconomic variables — perceived locus of control, perceived income adequacy, and satisfaction with financial status. Results of the study indicate that age, household income, household net worth, perceived locus of control, and perceived income adequacy are significantly related to satisfaction with financial status. Household income and household net worth have indirect effects on satisfaction through perceived locus of control and perceived income adequacy. Perceived locus of control also has an indirect effect on satisfaction through perceived income adequacy. These findings suggest that counselors and educators should emphasize the importance of perceptions of income adequacy and control over financial aspect in their courses and programs.Journal Paper No. J-14499 of the Iowa Agriculture and Home Economics Experiment Station, Ames, Iowa. Project No. 2809.His research interests include consumer credit and family resource management. He received his Ph.D. from Iowa State University in 1993.Her research interests include family financial management and consumer bankruptcy. She received her Ph.D. from the University of Missouri.     

Relations Among Intimate Partner Violence,Maternal Depressive Symptoms,and Maternal Parenting Behaviors

The authors examined the relations among intimate partner violence (IPV), maternal depressive symptoms, and maternal harsh intrusive parenting. Using a cross‐lagged, autoregressive path model, they sought to clarify the directionality of the relations among these 3 variables over the first 2 years of the child's life. The results indicated that, in this diverse sample of families living in predominantly low‐income rural communities (N = 705), higher levels of early IPV were associated with increases in maternal depressive symptoms, which in turn were associated with increases in maternal harsh intrusive parenting behaviors. These findings suggest that interventions aimed at improving the parenting of women exposed to domestic violence may want to simultaneously target IPV and depressive symptomatology.     

Language Acculturation,Acculturation‐Related Stress,and Marital Quality in Chinese American Couples

The current study examines the longitudinal indirect pathways linking language acculturation to marital quality. Three waves of data were collected from 416 Chinese American couples for 8 years (M_age.wave1 = 48 for husbands, 44 for wives). Actor–partner interdependence model analyses revealed that for both husbands and wives, lower levels of language acculturation were associated with higher levels of stress over being stereotyped as a perpetual foreigner. Individuals' foreigner stress, in turn, was directly related to greater levels of their own and their partners' marital warmth, suggesting that foreigner stress may have some positive relational effects. However, individuals' foreigner stress also was associated with increases in their own depressive symptoms, which predicted higher levels of marital hostility in the partner. Overall, these results underscore the complexity of how language acculturation and foreigner stress relate to marital quality and the importance of considering the interdependence of the marital system.     

Perceived discrimination and depression among Mexican-origin adults in California

We contend that perceived discrimination has an independent effect on depression outcomes among adults of Mexican origin. Using a sample of 3,012 Mexican-origin respondents in Fresno, California in 1995/96 (ages 18-59) we investigate the direct and moderating connections between perceived discrimination, acculturative stress, and mental health (CES-D). We also investigate the social patterning of perceived discrimination. While more highly acculturated immigrant respondents were more likely to experience discrimination than their less acculturated counterparts, more highly acculturated U.S. born respondents were less likely to experience discrimination. Discrimination was directly related to depression, but this effect was moderated through nativity/country of residence, English-language acculturation, sex, and country of education variables. Moderate levels of legal status acculturative stress were especially depressive for native-born U.S. residents.     

Mexican American and Other Hispanic Couples’ Relationship Dynamics: A Review to Inform Interventions Aimed at Promoting Healthy Relationships

Public policy initiatives have set out to promote healthy relationships among low-income racial and ethnic-minority couples. Interventions used, however, are based on decades of research with primarily White, middle-class, college-educated couples and have yielded disappointing results. The aim of this literature review is to provide the reader with the current state of knowledge on relationship dynamics among the fastest growing ethnic-minority group in the United States: Mexican American (MA) Hispanics and other Hispanic subgroups. Thirty-seven empirical journal articles focusing on the following domains of interest were reviewed: (1) patterns of union formation and dissolution, (2) ideals and views about marriage, (3) relationship satisfaction and quality, (4) communication and conflict, and (5) unique themes. MA couples have higher marital rates, a decreased risk of marital dissolution, and report greater relationship satisfaction than African American couples. First-generation and less acculturated MA couples have a decreased risk of experiencing marital dissolution and dissatisfaction than second- and third-generation MA couples. Cultural variables such as family values and religion seem to play an important role in MA and other Hispanic couples’ relationship satisfaction and stability. In the interest of enhancing the effectiveness of intervention efforts directed at these couples, future research should focus on elucidating the mechanisms by which acculturation impacts MA couple functioning, examining the impact of other facets of relationship quality (e.g., emotional intimacy, support) on marital satisfaction, broadening samples to include other Hispanic subgroups, and exploring the types of services and method of delivery that MA and other Hispanic couples would like to receive. Limitations and strengths of the existing literature are discussed.     

Social Exchange Theory and the Division of Household Labor in Same-Sex Couples

Same-sex couples are often not seen as a family unit and are excluded from research, including family research on topics such as household division of labor. The author examined division of household labor, using social exchange theory, among 165 survey respondents in a same-sex relationship. Division of labor was measured by the percentage of tasks performed according to the respondent. Status differences between partners (e.g., higher, equal, lower) in terms of income, education, hours spent on paid labor outside the home, employment status, age, and race (here, only same or different races) were the independent variables. In general, as predicted by social exchange theory, partners with greater resources or power performed fewer household tasks. Satisfaction with division of labor and sense of being appreciated for one's contributions to household tasks were positively correlated with global relationship satisfaction. However, some inconsistencies indicate gaps in social exchange theory and that other factors may be important in understanding division of labor among same-sex couples.     

Cross-Cultural Perspectives on Illness and Wellness: Implications for Depression1

The purpose of this research is to determine the relationships among race, socioeconomic status (SES) and depressive symptomatology. Contrary to the findings of over 20 years ofpsychiatric epidemiology, two research teams have recently reported that Blacks, primarily those oflow SES, are significantly more depressed than Whites occupying the same status. Using the same epidemiologic field survey data as one of these research groups (Whites = 1,648; Blacks = 450), the issues of race, SES, and depression are reopened for examination. Depressive symptomatology was measured by the Florida Health Study Depression Scale. The findings indicated that, in general, Blacks had significantly higher levels of depressive symptomatology than Whites. However, these differences were eliminated once SES, a composite of occupational status, education, and household income, was statistically controlled. Race, in other words, was not found to be an independent predictor of depression. The author concludes that poverty is hazardous to one's psychological well-being and that race, by itself, is merely a proxy for socioeconomic status. In addition, methodological issues associated with the conceptualization and opera~ tionalization of socioeconomic status and mental health constructs such as depression are explored.     

Gambling Households in Canada

This paper examines the distribution of gambling dollars in Nova Scotia, Saskatchewan and Canada and studies the impact of this spending on households. We focus first on how gambling expenditures are related to the level and source of household income as well as to other demographic characteristics such as age, education, household composition, geographical area, and sources of income. Next we analyze how gambling expenditures are distributed among those households that gamble. We show how expenditure patterns differ in the intensity of gambling as measured by the proportion of household income or total amount of dollars spent on gambling. Then we study the affects that gambling has on spending on household necessities, changes in net worth, retirement savings and household debt. Finally we determine whether gambling expenditures act as a substitute or a complement to other recreational spending on entertainment products and services. Throughout the paper we offer a comparative analysis of provincial and national data.     

How to measure and proxy permanent income: evidence from Germany and the U.S.

Permanent income (PI) is an enduring concept in the social sciences and is highly relevant to the study of inequality. Nevertheless, there has been insufficient progress in measuring PI. We calculate a novel measure of PI with the German Socio-Economic Panel (SOEP) and U.S. Panel Study of Income Dynamics (PSID). Advancing beyond prior approaches, we define PI as the logged average of 20+ years of post-tax and post-transfer (“post-fisc”) real equivalized household income. We then assess how well various household- and individual-based measures of economic resources proxy PI. In both datasets, post-fisc household income is the best proxy. One random year of post-fisc household income explains about half of the variation in PI, and 2–5 years explain the vast majority of the variation. One year of post-fisc HH income even predicts PI better than 20+ years of individual labor market earnings or long-term net worth. By contrast, earnings, wealth, occupation, and class are weaker and less cross-nationally reliable proxies for PI. We also present strategies for proxying PI when HH post-fisc income data are unavailable, and show how post-fisc HH income proxies PI over the life cycle. In sum, we develop a novel approach to PI, systematically assess proxies for PI, and inform the measurement of economic resources more generally.     

Performance pay,the marriage market and rising income inequality in Taiwan

Taiwan expanded its college access significantly over the past two decades by converting 2-year junior colleges to 4-year colleges and relaxing entrance standards. The share of college graduates in the 22–24 years old population rose from 12 to 71% between 1990 and 2014. This should have suppressed returns to schooling and lowered household income inequality. Instead, Taiwan’s Gini coefficient rose. We show that rising use of performance pay and positive assortative mating in the marriage market jointly increase the household income inequality by 46.5% between 1980 and 2014. Our results suggest that uneven quality of the most recent cohorts of college graduates led to two sources of rising household income inequality: the increased use of bonus pay which increases residual inequality among college graduates; and matching on unobserved skills in the marriage market which increases inequality among married couples.

     

Cross-cultural perspectives on illness and wellness: Implications for depression

The purpose of this research is to determine the relationships among race, socioeconomic status (SES) and depressive symptomatology. Contrary to the findings of over 20 years of psychiatric epidemiology, two research teams have recently reported that Blacks, primarily those of low SES, are significantly more depressed than Whites occupying the same status. Using the same epidemiologic field survey data as one of these research groups (Whites=1,648; Blacks=450), the issues of race, SES, and depression are reopened for examination. Depressive symptomatology was measured by the Florida Health Study Depression Scale. The findings indicated that, in general, Blacks had significantly higher levels of depressive symptomatology than Whites. However, these differences were eliminated once SES, a composite of occupational status, education, and household income, was statistically controlled. Race, in other words, was not found to be an independent predictor of depression. The author concludes that poverty is hazardous to one's psychological well-being and that race, by itself, is merely a proxy for socioeconomic status. In addition, methodological issues associated with the conceptualization and operationalization of socioeconomic status and mental health constructs such as depression are explored.Paper presented at the Conference on Multicultural Perspectives on Mental Illness, May 1994, St. John's University.     

The effect of disability on the net worth of elderly people

As demographic shifts make the Social Security program financially vulnerable, the responsibility for income security in old age will shift from the government to elderly people. In this changing environment, the accumulation of wealth will be a crucial issue because wealth holders can draw income from assets, which can supplement retirement income. Thus, wealth (or net worth) is a proximate indicator of economic well-being of the elderly. This article presents the findings of a study of the net worth of elderly people with disabilities. The major findings were that a smaller proportion of elderly people with disabilities has assets of any type compared with elderly people with no disability; the dollar value of each type of asset is smaller among elderly people with disabilities than among elderly people with no disability; and the net worth of people with disabilities is smaller than that of elderly people with no disability even after other variables were controlled.     

Why do families actually pool their income? Evidence from Denmark

This paper analyzes income-pooling by using a unique Danish data set that includes questions on income pooling among 1,696 couples. The analyses show that most Danish households use some kind of income pooling and that the proportion of income pooled varies considerably according to individual characteristics (age, education, occupation, past partners, upbringing) and household characteristics (household income, duration of marriage, location of residence and the existence of public goods, including children). However, when all variables are evaluated in a common model, the duration of marriage and the existence of children predominantly affect the likelihood of income pooling.

Predictors of Marital Satisfaction Among Korean Immigrant Spouses in the United States

ABSTRACT

This study investigated marital satisfaction among Korean immigrant spouses. Level of acculturation, the number of years of U.S. residence, status inconsistency, annual income, educational level, decision making, division of household tasks, and communication problems were hypothesized to be predictors of marital satisfaction. A snowball sampling strategy yielded 304 respondents. Results showed that level of acculturation was significantly associated with marital satisfaction for Korean immigrant husbands, but not for Korean immigrant wives. Marital decision making was significantly related to marital satisfaction for Korean immigrant wives but not for Korean immigrant husbands. Both acculturation and marital decision making accounted for only 3% of the variance in marital satisfaction. For both spouses, conjugal communication problems were the best predictor of marital satisfaction (16% and 37% of variance explained for husbands and wives, respectively).     

The Impacts of Education,Adverse Childhood Experience,and Nativity on Intimate Partner Violence

This paper tested an implication of household bargaining theory, that women with higher human capital experience less intimate partner violence. Relying on a single source of income imposes a barrier to leaving an abusive relationship. Women with higher human capital are better equipped to leave a relationship, which allows them to tolerate less violence in a relationship. Using a California health survey dataset, we found that more educated women were less likely to experience spousal violence. We used the detailed nature of the data to control for commonly omitted variables such as adverse childhood experiences. In addition, we found that the effect of education on intimate partner violence varied by nativity (US-born vs. foreign-born) and was smaller for foreign-born women. Drawing from the literature on the returns to education by race, we hypothesized that foreign-born women have a lower return on human capital, which in turn moderated the effect of education on household bargaining power.     

Gender inequality in the one percent: A look under the hood of high incomes in Germany

Gender differences in economic outcomes are important topics in social science research. However, the study of gender differences among economic elites—“the top one percent”—has received surprisingly little attention, likely also due to a lack of empirical data. This paper investigates gender differences in individual and household income among the top one percent of individual monthly net incomes and top two percent of net household incomes using data from the German Microcensus from 2006 to 2016 covering more than 3.3 million individuals. I find that women account for only around 14% of the one percent in individual incomes. Additionally, regarding the household level, women's incomes are sufficient to achieve two percent status in fewer than 10% of all households. Both numbers did hardly change over the decade from 2006 to 2016. Furthermore, women's pathways to belonging to a high-income household are far more dependent on their partner's education and employment status than men's. Overall, the findings thus show dramatic gender differences among the German economic elite that do not narrow over time.