• Journal of Families and Better Life
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• v.34 no.5
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• pp.53-68
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• 2016

Financial preparation for retirement means making financial plans by predicting expected incomes and expenditures needed for maintaining success in later life. Because this preparation needs long-term planning, preparing as early as possible is recommended. This study, therefore, uses theory of planned behavior for examining the intention of financial preparation for retirement of consumers in their 20s and 30s. By using financial education and its understanding as additional variables, this study also intends to examine the ultimate effects on the intention. The following is a summary of the main results and suggestions. First, the level of consumer financial education is lower than the average. The level of understanding finance is lower than the average, and particularly, the level of understanding retirement related finance is much lower. Second, the more the attitude of financial preparation for retirement is positive, and the higher the level of subjective norm or perceived behavioral control is, the level of the intention of financial preparation for retirement tends to be more higher. Therefore, relevant efforts to encourage this preparation are needed. Third, the level of the intention of financial preparation for retirement is higher than the average, whereas financial education has no effects on the intention. This means that despite the importance of the financial education, its current implementation has many problems. The suggestions of this study are as follows. First of all, this study can provide preliminary data for developing retirement planning programs. In addition, in terms of the policy, given that this study targets relatively young consumers in their 20s and 30s, it can provide preliminary data for making policies for their future retirements.

• Journal of Digital Convergence
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• v.19 no.5
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• pp.117-126
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• 2021

This study analyzed the factors influencing baby boomers' reemployment intentions. The extended Theory of Planned Behavior(TPB) as a research model used in this study. The extended TPB added outcome expectations and economic preparation as independent variables. Personal characteristics were set as a moderating variable and reemployment intention was set as a dependent variable. Based on the questionnaire survey of 250 baby boomers for the established research model, an empirical test was conducted through regression analysis. The results of empirical testing are as follows. Attitude, perceived behavioral control, and outcome expectations had a significant positive (+) effect on the baby boomer's reemployment intention. On the other hand, economic preparation had a significant negative (-) effect. Social norms have not been tested for significant influence relationships. Among the significant variables, economic preparation was found to have the greatest influence. The results of moderating effect of personal characteristics, both agreeableness and conscientiousness were found to play a role in moderating between attitudes and reemployment intention, between outcome expectations and reemployment intention. Based on these research results, academic and practical implications for the baby boomer's reemployment were presented.