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G3d To Give or Not to Give? Intergenerational Wealth Transfers and Financial Stress
Short Description
Americans consistently report that a top concern is money. Considering the financial challenges and stress that individuals are experiencing (American Psychological Association, 2020), as well as the positive outcomes from intergenerational wealth transfers found in recent research, this study advances the literature by examining how wealth transfers can impact financial anxiety and financial stress when facing financial strain. Using the ABC-X model of stress and coping and the 2021 State-by-State National Financial Capability Survey (FINRA, 2022), the current study aimed to address the question of whether financial strain (i.e., stressors), intergenerational transfers of wealth, financial anxiety, and financial stress are associated. All the tested relationships were statistically significant and positively associated, except for intergenerational transfers and financial stress, which showed a negative but still significant relationship. The final model accounted for 68% of the overall variance. Implications for research and practice are provided and conceptualization financial strain, financial anxiety, and financial stress are distinguished.
Type of presentation
Accepted Oral Presentation