The Cognitive Correlates of Financial Literacy in Older Adults

Gali H. Weissberger, Annie L. Nguyen, Aaron C. Lim, Laura Fenton, Laura Mosqueda, S. Duke Han

Research output: Contribution to journalArticlepeer-review

1 Scopus citations


Objectives: This study examined the cognitive correlates of financial literacy using a comprehensive neuropsychological battery, and whether education modifies the relationship between cognition and financial literacy. Methods: Sixty-six participants completed sociodemographic questionnaires, an assessment of financial literacy, and a neuropsychological assessment. Multiple linear regression models that controlled for age, sex, and education examined the main effects of cognitive measures that showed a significant bivariate association with financial literacy. Results: After correcting for multiple comparisons, the Crystallized Composite score (p =.002) and the Picture Vocabulary test (p =.002) from the NIH Toolbox, and the Multilingual Naming Test (p >.001) from the Uniform Data Set 3 were associated with financial literacy. Contrary to our hypothesis, education did not interact with cognitive measures when considering financial literacy scores. Conclusions: Findings suggest that vocabulary knowledge and semantic memory may play an important role in financial literacy in older age. Clinical Implications: Assessing vocabulary knowledge and semantic processes may help to identify older adults with lower financial literacy skills. Additionally, financial literacy interventions may consider targeting individuals with lower vocabulary knowledge and semantic processing skills.

Original languageEnglish
JournalClinical Gerontologist
Early online date29 May 2023
StateE-pub ahead of print - 29 May 2023

Bibliographical note

Publisher Copyright:
© 2023 The Author(s). Published with license by Taylor & Francis Group, LLC.


The authors gratefully thank the Han Research Lab staff and study participants. Some participants from the present study were recruited with the help of the Alzheimer’s Prevention Registry. The Alzheimer’s Prevention Registry is supported by a grant from the National Institute on Aging (R01AG063954). The Alzheimer’s Prevention Registry has been supported by the Alzheimer’s Association, Banner Alzheimer’s Foundation, Flinn Foundation, Geoffrey Beene Gives Back Alzheimer’s Initiative, GHR Foundation, and the state of Arizona (Arizona Alzheimer’s Consortium).

FundersFunder number
National Institute on AgingR01AG063954
Alzheimer's Association
Flinn Foundation
Arizona State University
Banner Alzheimer’s Foundation
GHR Foundation


    • Cognition
    • financial literacy
    • neuropsychology
    • older adults


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