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http://dx.doi.org/10.15207/JKCS.2019.10.12.337

A Study on the Relationship between Income Instability and the Degree of Preparation for Old Life and Satisfaction with Current Life  

Lee, Chan-Ho (Dept. of Business Administration, Pusan National University)
Publication Information
Journal of the Korea Convergence Society / v.10, no.12, 2019 , pp. 337-343 More about this Journal
Abstract
The need for preparation for old life has been further increased due to the increase of the elderly population and changes in economic conditions today. The purpose of this study is to analyze the relationship between income instability and the degree of preparation for old life and satisfaction of current life. The key variables were extracted through prior study review. And the data collected through the survey were statistically analyzed with a structural equation model. The analysis found that the indirect effect of the current income risk on the satisfaction of current life through the preparation for old life had a significant negative effect under the statistically significant level of 0.05. However, it was found that the direct effects of current income risk on the satisfaction of current life were not statistically significant. An additional analysis was conducted by dividing the age, the number of dependents by two groups respectively. To summarize the results, preparation for old life played a significant role as a prerequisite for improving the satisfaction of current life. And the variability(risk) of current income played an important role in preparing for old life. At this time, the degree of relevance between the factors(potential variables) differed somewhat between the two groups. The results of this analysis will be meaningful in providing basic source of data to prepare for a satisfactory life in each individual's current situation. This study, meanwhile, has limitations that have only been done with cross-sectional analysis and would like to analyze time-series changes in the future.
Keywords
Income instability; The degree of preparation for old life; Satisfaction with current life; Structural equation model; Number of dependents;
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Times Cited By KSCI : 2  (Citation Analysis)
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