Afraid to be Happy: How Financial Self-Efficacy, Personal Life Expectations, and Fear of Happiness Influence the Pursuit of Peace among Older Nurses

Abstract

Abstract As older nurses approach retirement, their personal expectations, fear of happiness, and concerns about financial security play crucial roles in their well-being and peace of mind. Drawing on Social Cognitive Theory, which highlights how financial self-efficacy affects psychological outcomes, we guided researchers, organisations, and policymakers in improving psycho-financial tools to promote older nurses’ peace of mind. We explored the moderating role of financial self-efficacy in the relationship between personal life expectations, fear of happiness, and peace of mind among older nurses. The data obtained from a representative sample of 340 older nurses (i.e., those with less than ten years to retirement) using the Peace of Mind Scale, Fear of Happiness Scale, Personal Life Expectations Scale, and Financial Self-Efficacy Scale supported our proposed moderated hypotheses. Hayes’ regression-based PROCESS macro for SPSS showed that personal life expectations and fear of happiness were negatively associated with peace of mind. In contrast, financial self-efficacy was not a significant predictor. Financial self-efficacy did not moderate the associations between personal life expectations, fear of happiness, and financial self-efficacy with peace of mind among older nurses. The study highlights the significance of promoting peace of mind. A multifaceted approach that addresses personal, emotional, and financial factors is needed. Older nurses can find peace by addressing psychological barriers, fostering resilience, and receiving targeted support. Key Words: Dynamics of Older Nurses, Financial Self Efficacy, Peace of Mind, Personal Life Expectation and Fear of Happiness.