Financial Capability,Asset Ownership,and Later-Age Immigration: Evidence From a Sample of Low-Income Older Asian Immigrants |
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| Authors: | Yunju Nam Eun Jeong Lee Jin Huang Junpyo Kim |
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| Institution: | 1. School of Social Work, University at Buffalo, the State University of New York, Buffalo, New York, USAyunjunam@buffalo.edu;3. Senior Community Service Employment Program, National Asian Pacific Center on Aging, Seattle, Washington, USA;4. School of Social Work, Saint Louis University, St. Louis, Missouri, USA;5. School of Social Work, University at Buffalo, the State University of New York, Buffalo, New York, USA |
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| Abstract: | We examined financial capability and asset ownership among low-income older Asian immigrants with special attention given to later-age immigrants who came to the United States when they were 55 years old or older. Survey data collected from supported employment program participants (N = 150) were used. The analyses demonstrated a low level of financial knowledge and asset ownership in the sample. The findings also indicated that later-age immigrants’ financial-management skills, knowledge of social programs, and asset ownership were significantly lower than those of young-age immigrants. These findings call for active interventions to enhance economic security among low-income older Asian immigrants. |
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| Keywords: | wealth economic security elderly age at immigration |
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