This study examines the relationship between widowhood, depression, and financial strain, with a focus on gender differences in these pathways. Using longitudinal data from the Health and Retirement Study (HRS), we investigate how the transition into widowhood affects individuals’ mental health and financial well-being. While prior research suggests that women experience greater direct financial consequences of widowhood, men often report higher levels of depression. Our analysis applies a moderated mediation model based on the Stress Process Framework to test whether depression mediates the relationship between widowhood and financial strain, and whether marital history (length and number of prior marriages) moderates these effects. Findings indicate that women face both direct financial shocks and indirect effects through depression, while men’s financial strain occurs primarily through the psychological pathway of depression. Results highlight that depression is a universal risk factor for financial difficulty, regardless of gender. These findings have significant implications for financial planners, consumer educators, and mental health professionals by emphasizing the importance of tailored interventions that recognize gendered vulnerabilities. This research contributes to consumer well-being by providing insights that support the development of more effective financial planning and counseling strategies for widowed individuals.

Accepted Oral Presentation