Sublimating Loss: Financial Trauma, Identity Work, and Adaptive Productivity

This study investigates the relationship between subjective financial well-being and depressive symptoms among older adults using Wave 15 data from the Health and Retirement Study (HRS). We estimate an Ordinary Least Squares (OLS) regression model to predict CES-D depression scores based on four self-reported financial indicators: financial strain, financial satisfaction, difficulty making ends meet, and perceived income adequacy. Results show that greater financial strain and difficulty making ends meet are positively associated with higher depression scores, while greater financial satisfaction is negatively associated. The model explains approximately 14.3% of the variation in depressive symptoms and highlights the psychological cost of economic insecurity in late life. These findings underscore the importance of subjective financial perceptions in mental health policy and research.