A large body of research links wealth and health, but most previous work focuses on net worth. However, the assets and debts that comprise wealth likely relate to health in different and meaningful ways. Furthermore, racial differences in wealth portfolios may contribute to racial health gaps. Using longitudinal data from the Panel Study of Income Dynamics (PSID) and mixed effects growth curve models, we examined the associations between various wealth components and multiple health outcomes. We also investigated whether black–white differences in wealth portfolios contributed to racial health inequality. We found that savings, stock ownership, and homeownership consistently improve health, but debt is associated with worse health, even after adjusting for total net worth. We found little evidence that home equity is associated with health. Findings also revealed differential health returns to assets by race. These findings provide new insights into the complex relationship among race, wealth, and health.

中文翻译：

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超越净资产：财富组合的种族差异和整个生命历程中的黑白健康不平等。

大量研究将财富与健康联系起来，但以前的大部分工作都集中在净资产上。然而，构成财富的资产和债务可能以不同且有意义的方式与健康相关。此外，财富组合中的种族差异可能会导致种族健康差距。使用收入动态面板研究 (PSID) 和混合效应增长曲线模型的纵向数据，我们检查了各种财富成分与多种健康结果之间的关联。我们还调查了财富组合中的黑白差异是否导致种族健康不平等。我们发现储蓄、股票所有权和房屋所有权持续改善健康状况，但债务与更差的健康状况有关，即使在调整了总净值之后也是如此。我们发现几乎没有证据表明房屋净值与健康有关。调查结果还揭示了不同种族对资产的健康回报不同。这些发现为种族、财富和健康之间的复杂关系提供了新的见解。