Gender Differences in Financial Sources and Perceived Financial Satisfaction Among Older People in Vietnam

Abstract:This paper aims to show differences between older men and women in terms of financial sources for their living, as well as to examine determinants associated with perceived financial satisfaction of older men and women in Vietnam. The Chow tests show that urban and rural older people were not different in perceived financial satisfaction, while male and female people clearly were. Two separate logistic regression models for male and female older people were applied to discover determining factors of their perceived financial satisfaction. The findings generally showed that older women usually had lower probability for financial satisfaction than did men. Educational level, living area, and financial factors for both males and females played significant roles in making older people satisfied with their financial situations. The paper also indicates that there was a higher probability of financial satisfaction for those who received financial support from their children. The results also imply that there was no relationship between the work situation of older people and their perceived financial satisfaction, although working in later life could help older people increase their income.