Financial Strain and Attitude Toward Retirement Among Aging Chinese Adults: The Influence of Family

Objective: This study examined the influences of intergenerational relations and marriage on the relationship between financial strain and attitude toward retirement among aging adults in Hong Kong. Background: Financial strain is a source of worry among many older adults in Hong Kong. A considerable percentage of retirees and pre-retirees have negative attitudes toward retirement. Method: Representative survey data were collected from 767 participants (335 men and 432 women) with 294 participants aged 50 to 64 years; 473, aged 65 years or older). Results: Financial strain was negatively associated with attitude toward retirement both directly and indirectly through intergenerational relationship quality. Cohort differences were identified as affectual closeness and intergenerational conflict (two subdomains of intergenerational relationship quality) partially mediated the relationship between financial strain and attitude toward retirement for the younger cohort aged 50 to 64 years, whereas for adults aged ≥65 years, only affectual closeness was a significant partial mediator. Marriage only acted as a moderator for the younger cohort. Conclusion: The mediating effect of intergenerational relationship quality and moderating effect of marriage were identified, as well as cohort differences. Implications: Tailored programs and policies should be developed for different age groups to enhance intergenerational relations and retirement preparation.