Exploring the Factor Structure of Financial Capacity in Cognitively Normal and Impaired Older Adults.

Autor: Gerstenecker, Adam, Triebel, Kristen, Eakin, Amanda, Martin, Roy, Marson, Daniel
Předmět:
Zdroj: Clinical Gerontologist; 2018, Vol. 41 Issue 1, p33-41, 9p, 3 Charts
Abstrakt: Objectives: To investigate the factor structure of financial capacity using a direct-performance measure of financial skills (The Financial Capacity Instrument [FCI]) as a proxy for the financial capacity construct. Methods: The study sample was composed of 440 older adults who represented the cognitive spectrum from normal cognitive aging to mild cognitive impairment (MCI) to mild dementia: 179 healthy older adults, 149 participants with MCI, and 112 participants with mild Alzheimer's dementia (AD). Results: Both Velicer's Minimum Average Partial test and Horn's parallel analysis supported a fourfactor solution which accounted for 46% of variance. The four extracted factors were interpreted as: (1) Basic Monetary Knowledge and Calculation Skills, (2) Financial Judgment, (3) Financial Conceptual Knowledge, and (4) Financial Procedural Knowledge. Conclusions: The study findings represent an important first step in empirically articulating the financial capacity construct in aging. The four identified factors can guide both clinical practice and future instrument utilization and development. [ABSTRACT FROM AUTHOR]
Databáze: Complementary Index