• IE interfaces
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• v.24 no.3
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• pp.173-186
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• 2011

In this paper, we evaluate life annuity plans for Korean pre-retired single and married couple participating Korea National Pension (KNP) and find optimal life annuity strategy by using utility-based measurements called AEW (Annuity Equivalent Wealth). Specifically, we extend a previous study to obtain a detailed optimal combination of annuitizing age and wealth in terms of percentage of net wealth at the time of retirement. A nonlinear optimization model is formulated with the objective of maximizing utility on consumption and bequest, and the dynamic programming (DP) technique is used to solve this problem. We find that there exist consistent patterns in optimal combinations of annuitizing age and wealth. Also, for all cases the optimal combination is significantly better than several other combinations. The results indicate that using the optimal approach can be beneficial to practitioners in insurance industry and prospective purchasers of life annuity. We conclude the paper with some discussions and suggestions.

• International Journal of Human Ecology
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• v.1 no.1
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• pp.79-93
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• 2000

Using the 1995 Survey of Consumer Finances, this study investigates how family life-cycle stages and financial management practices affect household saving. First findings are that household income and householders education, race and ethnicity have significant effects on saving. Second, regarding the effect of the family life-cycle stages, younger married couples without children, middle pre-retired households without dependent children, and older households without dependent children are more likely to save than other similar households in the life-cycle stage of younger single households. Third, households with longer financial planning horizons, saving goals for retirement, purchase of durable goods and emergency goods, and low credit card debt are more likely to save. Based on the results, implications for financial management education and public policy are suggested.

• Journal of Engineering Education Research
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• v.18 no.1
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• pp.3-10
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• 2015

The purpose of the study was to investigate the policy implication and a usage model for aging workforces of research and development field in the era of working age population decline and the introduction of the retirement age legislation. In spite the importance of the use for aging workforces of R&D, previous studies have not been taken in terms of R&D workforces. In addition, the activated policies and services was implemented for the aged and retired people. Therefore, we suggested the usage model in four folds: 1) internal employment model, which is to hire and employ pre-retired active workforces by their retirement age, 2) internal and external linkage model, which is to make them to depart from their previous workplaces and move them to new workplaces where they can apply their knowledge and skills, 3) extending retirement age model, which is to expand their age limit and provide their job opportunities after they left their work, and 4) ouplacement model, which is to provide them with employment information and service as well as operate the educational programs before they leave the workpalce. Finally, we suggested the update of legislation and law for old workers, government supports for retiring workforces, and the conversation and compromise between R&D workforces and managers of workplaces.

• Korean Institute of Interior Design Journal
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• v.24 no.4
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• pp.99-110
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• 2015

The purpose of this study is to identify pre-elderly's housing mobility related characteristics (reasons for moving, change of personal life after move, housing attachment, and plan to future move) and to examine the associations between their socio-demographic characteristics and housing characteristics, and their housing mobility related characteristics. A total of 200 usable data were collected through personal survey using a questionnaire developed by the researcher. Samples were selected in Seoul and new towns in the capital area and a survey conducted from February, 2014 to December, 2014. For the analyses, descriptive statistics, factor analysis, t-test and ANOVA were used. The most frequently mentioned reasons for moving were 'a good place for nature and retirement life'. Age, education level, liiving expenses, locaion, tenure status, and housing size were the variables to show significant difference to reasons for moving. Respondents experienced positive personal life changes after moving, especially, 'physical health' and outgoing activity'. Respondents who moved to a new town was more positively changed. Personal life changes was the most important variable associated with 3 factors of housing attachment. Location, tenure status, housing size were the major variables to show differences to housing attaachment. Also, personal life changes after moving and housing attachment were the important variables affecting a plan to future move. In other words, the respondents who do not plan to future move showed higher positive life change and strong housing attachment.

• Korea journal of population studies
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• v.33 no.3
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• pp.123-142
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• 2010

This study explores the patterns of meal related activities of couples of pre-retirement age in Korea. Using 2004 Time Use Survey of Korea conducted by Korea National Statistics Office, the study examines whether the couple have breakfast and dinner together, who prepares the meal and who does the dishes after meal. The descriptive and statistical analysis, as expected, shows the patterns of such activities are heavily influenced by the working status of the couple. Currently working men or women are less likely to have meals together nor do participate in preparing meals or doing dishes. Nonetheless, it is apparent that women are more likely to involve preparation and clean-ups regardless of their working status. As a whole, the activities of meal preparation and doing the dishes remains in the domain of women's work while the proportion of married women working outside home is substantial.

• Journal of Industrial Convergence
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• v.22 no.1
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• pp.75-84
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• 2024

This study aims to provide basic data for improved the level of subjective health awareness in the physical and mental aspects of prospective seniors by verifying the effect of self-esteem of pre-elderly on subjective health awareness and the mediating effect of interpersonal skills. For the analysis, data were collected through a survey of 270 prospective seniors aged 55 and over to 64 years old, who participated in the prospective elderly program operated by social welfare institutions in the metropolitan area, from February 16 to March 16, 2023, and SPSS WIN 25.0 and PROCESS MACRO were used. Frequency analysis, descriptive statistics analysis, and correlation analysis were conducted as analysis methods, and the mediating effect of interpersonal ability was verified through structural equation analysis, and the main analysis results are as follows. First, it was found that the self-esteem of the pre-elderly had a positive (+) effect on subjective health perception. Second, interpersonal ability showed a mediating effect in the relationship between self-esteem and subjective health perception of pre-elderly. Based on these results, it is significant in that it presents basic data for a successful and active retirement life in the future old age.

• Journal of Digital Convergence
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• v.12 no.8
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• pp.493-499
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• 2014

This study aims to verify the effects of the life redesign educational program based on the baby boomer (11 members of experimental group, 12 members of control group). The program was conducted for two hours two times in a week in the area of Chungnam (Total 8weeks 16sessions). First, in the result of the Wilcoxon's pairs signed-ranks test between the pre-post tests for the analysis on the program effectiveness of the experimental group of baby boomer, the baby boomer of experimental group showed an improved perception of preparing the volunteer work in the perception of preparing their old age, and there was no pre-post significant differences in the control group. In case of the experimental group, perception of the post-retirement preparation, such as a physical preparation, emotional preparation, financial preparation, volunteer work preparation and leisure activities preparation increased in average. Second, the satisfaction for the program's educational process, educational contents, educational data, educational method, instructor and the educational environment were shown to be more than 3.5 points out of 5 points in full.

• The Journal of the Korea Contents Association
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• v.14 no.10
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• pp.661-676
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• 2014

Due to current economic recessions, interest on entrepreneurship and/or business start-up is getting increased beyond sex and ages. Currently business start-up of university students and retirement to age limit in silver generation are getting increased day by day. As a part of preparation against those phenomenons, this investigation try to show the effect of characteristic factors of entrepreneurs on the will of business establishment In this study, in order to analyse effects on business establishment, survey was conducted for 328 pre and existed entrepreneurs. For collected datas, reliability analysis, factor analysis and correlation analysis were conducted via spss20 statistical program and lastly, through regression analysis, following conclusions were drawn. At first, the will of business establishment was effected by personal characteristic and environmental factor. in second, the mentoring of business establishment was effected by personal characteristic and environmental factor In particular, the will of business establishment was controlled by mentoring of business establishment which was effected by environmental factor.

• Journal of the Korean association of regional geographers
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• v.21 no.2
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• pp.242-258
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• 2015

This study discusses spatial distribution of the silver towns in the Seoul metropolitan area and investigates how the residents recognize their silver towns through in-depth interviews. Nowadays there are many elders who prefer to live in urban downtown or suburb areas which can be connected with the places of their pre-retirement lives. Therefore, the silver towns in the Seoul metropolitan area have been increasing. The facilities are mainly located in northern part of Seoul and southern part of Gyeonggi province near the network of major express roads. Location and accessibility are more important than any other factors when the elderly contemplate moving into silver town. Silver town residents are likely to have meaningful times and positive identities by communicating with friends there. The elders aged 80 years or older living in silver towns think the silver towns as their home while 'young old' people complain their limited rights of decision making and they consider additional move.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.6
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• pp.89-104
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• 2022

Entrepreneurship by seniors who have accumulated skills and expertise in the industrial field is very important from a social point of view. This study aimed at seniors to find out the major start-up capabilities of seniors in an economic situation where instability factors and uncertainties are amplified due to the social structure of jobs that has changed due to COVID-19 during the 4th industrial revolution and the rapidly progressing high interest rates and global supply chain problems. The purpose of this study was to empirically verify how variables affect entrepreneurial intention. In addition, from the perspective of mindset, which is the individual psychological characteristic of pre-entrepreneurs, we tried to empirically verify whether growth mindset and fixed mindset have a significant effect on senior entrepreneurship intention. The psychological characteristics of founders were approached from the perspective of mindset, and an attempt was made to apply them to the field of entrepreneurship and to obtain practical implications. This study empirically analyzed the effects of growth mindset, fixed mindset, technical competency, network competency, and funding competency, which are components of mindset, on senior entrepreneurial intention, and verified the mediating effect of entrepreneurial efficacy. As a result of the empirical analysis, it was verified that growth mindset and technological competency had a positive (+) effect on entrepreneurial intention. In addition, it was verified that the mediating effect of entrepreneurial efficacy was significant in the influence of growth mindset and technological competency on entrepreneurial intention, and it was verified that growth mindset and technological competency are important variables in senior entrepreneurship. The study results provide the following policy implications. In order to activate senior entrepreneurship, first, to maximize the effect of founder education, programs such as customized entrepreneurship education that match the growth mindset characteristics, which are the psychological characteristics of founders, are needed. Second, it is required to expand the base of technology startups by expanding government support, such as expanding low-interest policy financing, for senior startups with technological capabilities and expertise. Third, it is necessary to provide institutional support for starting a business, such as providing a start-up program even before retirement, so that the expertise and technology accumulated by seniors can be linked to start-ups even after retirement.