Recent research reveals significant disparities in financial stability between Black and white Americans during midlife, which may have profound implications for cognitive health in later years. Led by Chioun Lee, an associate professor of sociology at the University of California, Riverside, the study published in The Journals of Gerontology examines the impact of economic stability on older Black Americans’ cognitive function.
The findings underscore that financial instability, particularly the lack of low-cost debt for investments such as home ownership, disproportionately affects Black Americans. This economic disadvantage impedes wealth accumulation across generations, potentially leading to lower cognitive function in midlife and beyond. The study draws on 22 years of data from the Health and Retirement Study, managed by the University of Michigan and supported by the National Institute on Aging and the Social Security Administration.
Along with co-authors Dana A. Glei from Georgetown University and Soojin Park from UC Riverside’s School of Education, Lee analysed data from over 7,900 older Americans. They found that limited access to affordable debt options contributes to long-term financial strain among Black communities, impacting their ability to access quality healthcare and maintain a high quality of life.
The research challenges the misconception that all debt is detrimental, suggesting that strategic borrowing can enhance financial stability and well-being. However, structural barriers rooted in institutional racism perpetuate disparities in debt and asset profiles between Black and white Americans. Addressing these disparities is crucial for mitigating cognitive health inequalities and delaying conditions such as Alzheimer’s disease and related dementias (AD/ADRD) among racial minorities.
The study’s implications highlight the urgent need for targeted public policies to reduce racial disparities in financial stability and promote equitable access to economic opportunities. By addressing these systemic issues, policymakers can help alleviate the burden of cognitive health disparities experienced by Black Americans and other minority groups.
More information: Chioun Lee et al, Racial Disparities in Cognitive Health Among Older Americans: The Role of Debt–Asset Profiles During Preretirement Age, The Journals of Gerontology Series B. DOI: 10.1093/geronb/gbae014
Journal information: The Journals of Gerontology Series B Provided by University of California, Riverside
