Economic security for older adults often relates to which of the following factors?

Disable ads (and more) with a membership for a one time $4.99 payment

Study for the University of Central Florida (UCF) DEP2004 Developmental Psychology Final Exam. Get ready with multiple-choice questions and detailed explanations. Excel in understanding developmental stages and theories!

Economic security for older adults is closely tied to pension benefits because these provide a steady income stream after retirement. Pensions are typically a result of years of work, where individuals contribute to a fund during their employment, either through employer-sponsored programs or government initiatives like Social Security. These benefits are significant for ensuring that older adults can maintain a stable standard of living when they are no longer earning wages.

While factors such as unpaid family support or inheritance might contribute to an individual's financial situation, they are often less reliable and can vary greatly from person to person. Paid employment can be a source of income, but many older adults are not in a position to work full-time due to health issues or retirement. Therefore, pension benefits stand out as a crucial component of economic security for this age group, providing a more predictable and structured financial support system.