Factors of Life Satisfaction in Old Age

Russia, along with many other countries of the world, is experiencing a phenomenon of population ageing. The proportion of the elderly is growing while life expectancy increases and birth rate declines. The population ageing sets a series of social and economic issues faced by modern society. By the same token, this process provides society with plenty of opportunities, the benefits of population ageing may even be used for economic growth. And the economic potential of seniors may be implemented in the most successful way mainly by the life-satisfied elderly. Thus the aim of the present study is to determine factors of life satisfaction among older people. In order to identify the determinants of life-satisfaction ordered logistic regression model and binominal logistic regression model were estimated using data for the elderly aged 60 years and over from longitudinal study SAGE for Russia. Following results should be mentioned as obtained: life-satisfactions significantly positively correlated with self-rated health status, level of income, education, pension payment, often meetings with friends and feeling of safety at home and outside.