• The Journal of Asian Finance, Economics and Business
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• v.7 no.5
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• pp.279-290
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• 2020

This study examines how economic preparation for later life directly influences life after retirement. As people's life cycle is gradually getting longer, preparation for the later time with less economic activity after retirement is becoming more important. Thus, this study analyzes the factors influencing life after retirement. Data comes from the Korean Retirement and Income Study (KReIS) surveyed carried out by the National Pension Research Institute in 2015. The analysis includes Cronbach's alpha, Pearson Product Moment Correlation Coefficient and Sobel Test. This study confirms that voluntary retirement has a positive influence on life satisfaction. Results are in line with previous research about the relationship between voluntary retirement and retired life. When a person retires voluntarily, financial preparation can be made in advance for retirement. In case of involuntary retirement, people may experience a sense of loss in personal standing and financial difficulties due to the unexpected situation. Especially, early retirement from the main workplace leads to unstable later life. The study's policy recommendation, in particular, calls on government and businesses to agree on social responsibility for helping employees to retire in the predictable retirement time and, thus, enabling the retiree to decide all aspects of the path after retirement.

• Journal of Family Resource Management and Policy Review
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• v.16 no.2
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• pp.59-76
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• 2012

This study examines the relationship between intergenerational financial resource transfers and preparation for later life among the middle-aged. The study sample consists of 1536 middle-aged individuals with at least one living parent and one married child. The level of preparation for later life is dependent upon the level of household economic status. The statistically significant variables predicting the level of preparation for later life include age, education, subjective health status, household income and household assets. Moreover, intergenerational resource transfers are statistically significant factors that explain the level of preparation for later life. The effect of financial transfers from middle-aged parents to their adult children on the level of preparation for later life is the most significant financial transfer variable.

• Journal of Family Resource Management and Policy Review
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• v.17 no.2
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• pp.147-172
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• 2013

The purpose of this study was to examine the relative influences of variables that affect baby boomers' perceptions and preparations for later life planning. An age-group comparison was made to examine differences in later life planning within baby boomers. 814 respondents were selected from The National Survey of Korean Families undertaken by the Ministry of Equality and Family in 2010. They were devided into two groups according to the year of their birth, the former baby boomers was 397 respondents who was born from 1955 to 1959, and the latter baby boomers was 417 respondents who was born from 1960 to 1963. The major results of this study were as follows: First, the former baby boomers was less likely to prepare for later life, while was more likely to be aware of their later life planning than the latter baby boomers. Second, educational attainment and the number of children affected the level of perceptions and preparations for later life planning of the former baby boomers, whereas sex and region affected those of the latter baby boomers. Third, household income and subjective awareness of economic status were the major determinants of the preparation level for later life by both the former and the latter baby boomers. Fourth, former baby boomers who had greater awareness of the need to support their parents and their children were more likely to prepare for later life. Fifth, baby boomers' subjective awareness of their economic status chiefly explained the gap between their level of perceptions and their preparation for later life, with the former baby boomers with more children and single-earner households more likely to show a gap between their level of needs and their preparation for later life.

• 재활복지
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• v.17 no.4
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• pp.53-77
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• 2013

The purpose of this study was elderly women with disabilities to increase life satisfaction from the recognition that were original goals. Factors affecting life satisfaction confirm, and in influencing aging affects looked ready. In the case of non-disabled people was life satisfaction showed a link between preparation for the later life. Expected life satisfaction of elderly women with disabilities were equally applicable whether verification was carried out. The results of this study were as follows: First, the difference in life satisfaction according to demographic factors, psychological factors, health factors, economic factors, social factors were all of the factors in the elderly group of women with disabilities in accordance with the life satisfaction were different. Second, the factors that influence the life satisfaction for the elderly women with disabilities were psychological factors, health factors, economic factors, social factors and demographic factors. Third, in relation to independent variable and dependent variable, preparation for the later life factor was found operating as moderation variable in relations between level of economic status, chronic diseases. Based on this results, the implications for future studies on women with disabilities were discussed.

• Journal of Family Resource Management and Policy Review
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• v.20 no.4
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• pp.1-17
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• 2016

The purpose of this study was to investigate the effect of family characteristics of the baby boomer generation on the level of their later life preparation. This study randomly sampled a birth cohort between 1955 and 1963 consisting of participants living in Seoul, South Korea with a spouse and a child/children. This study investigated a total of 455 subjects from March 2 to March 20, 2016. The study findings are summarized as follows. This study analyzed the characteristics of baby boomers' family relationships and their effects on their later life preparation. It was found that 55.4% of the subjects had at least 2 children, and 44.6% had 1 child. Concerning their children's marital status, 33.8% had married children and 66.2% had unmarried children. The level of their children's support was found at 2.82 points (standard deviation [SD] = .64), which is slightly higher than the mean value of 2.5. The spouse satisfaction among the subjects was found to be 3.59 (.79) which is higher than the mean value of 3. The general status of later life preparation was 2.70 (SD = .44), which is lower than the mean value of 3. In the sub-dimension, the level of social preparation was 2.98 points (SD = .61); the level of economic preparation was 2.60 (SD = .64); and the level of physical preparation was 2.53 (SD = .45). All the values were lower than the mean value of 3. The overall status of later life preparation of the subjects in this study was low. The physical preparation level was particularly low. To analyze the factors that affect baby boomers' later life preparation, a hierarchical regression analysis was implemented. As a result, a significant effect was found in specific factors, such as spouse satisfaction (${\beta}$ = .32, p < .001), age (${\beta}$ = .26, p < .001), number of children (${\beta}$ = -.18, p <.001), health status (${\beta}$ = .18, p < .001), gender (${\beta}$ = -.11, p < .05), household income (${\beta}$ = .10, p < .05), and children's marital status (${\beta}$ = .10, p < .05). That is, the higher the spousal satisfaction, the older the age, and the lower the number of children, the higher the levels of later life preparation. Further, a higher level of later life preparation was observed in women, those with higher household incomes, and those with married children.

• The Journal of the Convergence on Culture Technology
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• v.6 no.2
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• pp.257-262
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• 2020

This study recruited adults aged 35 to 64 living in Daegu and Gyeongsang buk-do to analyze the images of the elderly perceived by the mid and older- aged adults and their preparation for later life. The results of this study are as follows: First, as for the images of elderly people recognized by the research subjects, psychological images were the most positive, followed by physical and social images. Those with a higher education level, full-time job, and parents alive had more positive images of the elderly. The psychological images were better in those married compared to singles or divorcees, and the higher the age considered as elderly, the better the psychological and social images of the elderly. Second, preparation for later life in the mid and older-aged adults was better in order of emotional and physical preparation, whereas economic and leisure and social preparation were not enough. Those who are female, those with a higher education level, higher average monthly household income, professional job, and full-time job, and those who have an older age in mind as a definition of elderly have been better prepared for later life. Third, it was found that the sub-factors of their images of elderly people and preparation for later life affected each other, and the more positive their images of elderly people, the better they had been prepared for later in life. The results of this research suggests a desirable direction for improving the images of the elderly, implicating the necessity of exploring measures to provide individual and social support and developing educational programs for successful life after retirement.

• Journal of the Korean housing association
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• v.17 no.1
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• pp.155-164
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• 2006

The purpose of this research was to find out attitudes toward work and leisure in later life and intention to move to senior community available to work among 50's in Pusan, Daegu, and Daejeon. The survey had been conducted in 414 respondents with questionnaire during May to June, 2003. Frequency, Crosstabs, T-test and ANOVA were obtained from the collected data using SPSS/WIN program. The results of this study were as follows. First, most respondents were preparing toward work in later life somewhat actively and the level of preparation differed by individual characteristics. Those who have higher level of education and subjective economic power were more active. The most preferred work item in later life were raising animals and plants, managing institution and training center and running shop. Those who have higher level of education and asset preferred managing institution and training center. Second, nearly three fourths of middle-aged have chosen leisure activities in consideration of later life and two thirds were preparing economically for leisure in later life. They have strong intention to participate in the leisure activity in later life and they also wanted to take part in various kinds of leisure activities. Those who have higher levels of education, subjective economic power, health and asset were more active in preparing leisure in later life. Third, over two thirds preferred to live and work in later life together with others rather than to live and work alone. Nearly half had intention to move to the senior community where work was available. The intention to move were differed by attitudes to work and leisure in later life. Those who were active in work and leisure in later life presented higher intention to move to senior community available work.

• Journal of Families and Better Life
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• v.24 no.4 s.82
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• pp.127-139
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• 2006

The purpose of this research was to find out relation between the attitudes toward work and leisure in later life and intention to move to senior community available to work among 50's in Seoul, Incheon, and Kyunggido. The same research questions would be revealed as the previous one done by Cho & Cho(2006). The data were the part of the survey collected from 556 respondents with questionnaire during November, 2002 by the Hong's research team(2004). The results of this study showed that most respondents were somewhat actively preparing toward work in later life and the level of preparation differed by the individual characteristics such as age, health and occupation. They preferred various work items specially managing facility center, raising animals and plants, and managing educating center, which were different from what current elderly workers were mainly involved in. Similarly to the work, most respondents cared for the kind of leisure activities to continue and saved money for the leisure expenses in later life. The better the economic conditions, the more actively prepared for leisure in later life. They were strongly expected to participate in public leisure facilities and programs for the elderly as a user, volunteer, and/or activist. Over two thirds of the respondents preferred to work and live together in later life and over two out of five had intention to move to the senior community available to work. The more active in work and/or leisure in later life, the higher intention to work together and/or to move to the community. Those results generally supported the previous research showed that the needs of work and leisure in later life would be increased and varied, therefor housing for the elderly should considered work space and program as well as leisure. The further study was suggested to focus on the potential and current residents in the sample case of the comprehensive welfare town for the elderly by local administration.

• The Journal of the Korea Contents Association
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• v.15 no.8
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• pp.313-325
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• 2015

This study aims to address factors affecting economic preparation of the elderly with industrial injury using Andersen model. In addition, it is also to explore differences in accordance with changes in the employment status between regular employees and non-regular employees. The authors analyze Panel Study of Worker's Compensation Insurance(PSWCI)'s 1st wave data in the logistic regression model. The authors found gender and education were related to economic preparation. In addition, earned income, national health insurance and the degree to which pain interferes with daily life and the lives caused by industrial accidents were associated with economic preparation. But national pension was not statistically significant to economic preparation. Based on the findings, the researchers addressed political implications to enhance financial security of injured workers.

• Journal of Family Resource Management and Policy Review
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• v.17 no.4
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• pp.189-213
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• 2013

The purpose of this work is to explore different types of intergenerational relationships in the later lives of old retirees. This will be done according to the eligibility of public pension and the old age social security system so that the factors affecting intergenerational relationships can be analyzed, and to propose a plan to improve social adaptation in later life. The data used in this work are the Fourth basic survey data of the 2011 Korea Retirement and Income Study. The study subjects of this work were 2,435 retirees over age 65 who had children. In this study, latent class analysis and logistic regression analysis were conducted to classify types of intergenerational relationships and to analyze the influence of relevant factors. As a result of the analysis, some of those in the group were eligible for public pension, and the ones who were not were classified into three types: the closely-living-together type, the separate-living-contact type, and the estrangement type. In the group not eligible for public pension, it was found that age, spouse, number of children, economic factors, and level of health satisfaction gave significant power to intergenerational relationships. In the group eligible for public pension, it was found that age, income and net assets, ADL(Activities of Daily Living), whether there was an IADL(Instrumental Activities of Daily Living) spouse, and number of children affected types of intergenerational relationships; Socio-demographic factors, economic factors, and healthy factors became significant variables according to the classified types of intergenerational relationship. Based on the study results, this work suggested such necessities to lay the foundation for an elderly welfare system for social adaptation in later life, This includes the offering of programs for retirement preparation, the use of family and local society resources, and expansion of the opportunity to participate in social activities.