Saving for a Rainy Day? Comparative Optimism About Disability in Old Age
Article first published online: 17 MAY 2011
© 2011 Wiley Periodicals, Inc.
Journal of Applied Social Psychology
Volume 41, Issue 5, pages 1059–1082, May 2011
How to Cite
RAFAELY, V., MANTSUR, A., BAR-DAVID, L. and MEYER, J. (2011), Saving for a Rainy Day? Comparative Optimism About Disability in Old Age. Journal of Applied Social Psychology, 41: 1059–1082. doi: 10.1111/j.1559-1816.2011.00747.x
- Issue published online: 17 MAY 2011
- Article first published online: 17 MAY 2011
This study examined young (n = 40) and middle-aged (n = 30) adults' susceptibility to comparative optimism and comparative pessimism regarding disability in old age and their willingness to save for long-term care. Participants rated their risk of diverse levels of disability in old age, compared to another similar person, and indicated the amount of money they would be willing to save for future long-term care. While middle-aged participants showed the same level of comparative optimism for diverse disability levels, younger participants showed increasing levels of comparative optimism with increasing disability. Participants' comparative optimism levels and age both predicted their intentions to save. The findings are discussed in terms of theories of judgment and behavioral decision making.