Savings as a cognitive shield: De-coupling economic worries from cognitive decline in older adults

Cognitive decline is a pressing public health concern in aging societies, with economic vulnerability increasingly recognised as an important social determinant of cognitive health. While prior research links financial strain to poorer cognitive outcomes, the mechanisms through which economic worries influence cognition remain insufficiently understood. In particular, this study conceptualizes economic worries as a domain-specific form of repetitive negative thinking, emphasizing their frequency and intrusive nature over mere objective financial status. Drawing on scarcity theory and the stress-buffering hypothesis, this study investigates whether personal savings, a modifiable financial resource, mediate the association between economic worries and cognitive function among older adults in Malaysia. Data were obtained from 294 community-dwelling participants in the MyAgeWell cohort. Cognitive function was assessed using the Montreal Cognitive Assessment (MoCA), economic worries with a shortened four-item version of the General Economic Worry Questionnaire which demonstrated accepted reliability and validity in the current sample, and savings adequacy dichotomised based on Malaysia's Basic Savings benchmark. Results showed that greater economic worries were significantly associated with reduced likelihood of sufficient savings, while adequate savings were positively linked to better cognitive function. The indirect effect through savings was significant, whereas the direct effect was non-significant, consistent with indirect-only mediation. These findings indicate that savings adequacy is associated with cognitive performance in later life through an indirect pathway linking economic worries to cognitive function. Enhancing financial security through targeted policies and interventions could therefore help buffer the negative association between economic stress and cognitive function in older adults, and support healthy aging.