• 대한가정학회지
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• 제32권4호
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• pp.31-43
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• 1994

The purpose of the study was to examine the economic well-being of households whose heads were retired in 1989 utilizing the combined income and net worth measyre of economic well-being which was adjusted for households size and composition. The data came from the 1989 Survey of Consumer Finances. The results showed that (1) the economic well-being of retired households was 87% of the average economic well-being of total households in the United States (2) there were considerable differences in the economic well-being among retired households and (3)race, sex, age of head had significant direct and/or indirect effects on the economic well-being of retired households. Education and income of longest job were significant intervening variables whereas the duration of longest job was not. On the basis of the results implications for public policy and future research were made.

• International Journal of Human Ecology
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• 제4권2호
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• pp.55-75
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• 2003

The purpose of this study was to investigate the effect of employment related factors on household savings for precautionary purposes when controlling for financial security and to compare the results between the two different economic periods. A conceptual framework was developed based on the precautionary saving theory, the family stress theory, and previous empirical studies. As a self-insurance, a measure of security funds were developed and used as the dependent variable. Using data on working households in the 1992 and the 1998 Survey of Consumer Finances (SCF), a MLE estimation was conducted on the pooled data. The 1992 and 1998 data were used to reflect periods of economic recession and expansion, respectively. The results suggested that factors representing resources played the most significant role in determining the amount of security funds. Some of the employment related factors, preferences, financial security, and race were also significantly affected the amount of security funds. The results suggested that stable employment conditions were important for households to accumulate security funds. Households with more human resources and financial resources had a larger amount of security funds than those that had less human and financial resources. From the findings, implications for research, policies, and financial educators had been suggested.

• 가족자원경영과 정책
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• 제6권2호
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• pp.133-142
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• 2002

The purpose of this study was to compare characteristics between the parents who saved money for their children's college education and those who did not, in an effort to identify the factors influencing the decision to save. From 1998 Survey of Consumer Finances (SCF), a sample of 1,085 family households was employed. Logistic regression analysis was used to examine the probability of saving for college education. The results showed that higher incomes and financial assets significantly increased the probability of saving for children's college education. The married couples who had higher education and larger household sizes were more likely to save. The age of the youngest child was a significant positive factor in the probability of saving for college education

• International Journal of Human Ecology
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• 제14권2호
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• pp.79-91
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• 2013

The market for a payday advance, regarded as both a convenient and short term-loan for immediate financial help, has grown incredibly since the 1990's. Despite its popularity by borrowers and the possible benefits, it has received negative publicity. Some borrowers have been caught in a debt trap for a long-term period and at tripledigit interest rates. The objective of this study is to shed light on the borrowers' profiles and their demand for a payday advance. Based on the 2010 household level data from the U.S. Federal Reserve Board, this study finds that payday advance users are pronounced as seemingly risky people. Payday advance users tend to be college drop-outs, African Americans, and non-homeowners compared to non-payday advance users. They are more likely to overspend above their income and have a favorable attitude toward conspicuous spending than non-payday advance users. They tend not to shop at all nor perform even moderate shopping for credit before using a payday advance service as opposed to non-payday advance users.

• 한국생활과학회지
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• 제14권4호
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• pp.613-629
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• 2005

This research analyzes household financial structures and ratios to understand factors of household utility. Its main themes are as following: First, what kinds financial structures are found at each level of income? Second, how are they different by the level of income? Third, what factors contribute to appropriate financial ratios? The themes are supported by the texts on financial ratios from both inside and outside of Korea and proved by the Korean Labor and Income Panel Survey, the fifth annual edition. The households are exempted that do not support the household principle record in the principle and household economy record. Accordingly, this survey is from a financial structure analysis of 3,762 households. The analysis utilizes SPSS Window (Version 10.0) program. The following are the results: First, the income level 4 and above, in which the increasing number indicates a higher level of income, are highly ranked on the income-expense level and the asset-debt rate. Also, level 4 has a strong financial structure, whereas level 1 does not. Apparently, the management of the household is complicated by debt redemption and a lower level of assets. Second, Ratio 1, Ratio 2, Ratio 4, and Ratio 5 are different by the level of income. Third, the level of income contributes to the appropriate financial ratio. The financial safety and prospective financial structure at each income level is an important variable. Households with a high income, in particular, have to balance their finances and capital, reducing liabilities and increasing the total assets. In other words, the family must hold assets to enhance efficiency according to the character and income level of the household. This research is a useful resource for such a decision-making as to improve household financial structure stability. Also, it can be adopted to evaluate financial products for specific households and be used for economic and social welfare planning to predict how households influence the nationwide economy.

• 대한가정학회지
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• 제41권6호
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• pp.91-104
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• 2003

Using the 1998 Survey of Consumer Finances(SCF), this study examined the factors associated with the probability of saving by female-headed households in the U.S, and investigated how these factors differ by life cycle stages. Age of children, age of female householders and their retirement status were used to categorize three life cycle stages: first stage - have at least one child under age 18; second stage - under the age of 62 and have no children under age 18; third stage - over the age of 62 and retired. Logistic regression analysis results indicated that those with higher education and income and who were White were more likely to save. An interactive model showed that life cycle stages were significantly related to saving decisions. Female-headed households in the first stage or the third stage were less likely than those in the second stage (reference group) to save. For female-headed households in the first stage and the third stage, the amount of income had significantly positive effects on the decision to save. Also, in the group of households in the first stage, the receipt of welfare assistance increased the probability of saving.

• 가족자원경영과 정책
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• 제17권1호
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• pp.159-178
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• 2013

This study aims to evaluate the retirement income readiness of Korea, a country that-considering its high property asset ratio-is seeing an unprecedented rapid progression of graying. The result of analyzing 6,589 non-retired households in Statistics Korea's Survey of Household Finances (2011) is as follows. First, the Retirement Readiness Index, considering annual income and asset utilization income before including longevity risk, was 70.6. The index increased to 89.5 when utilizing real assets excluding houses and exceeded 100 when utilizing houses. Second, when designating 100 to be the life expectancy and taking into consideration longevity risk, there results were 52.5, 63.7, and 81.1, respectively. Third, since it is less likely for one to use all current financial assets as post-retirement income, the study reviewed the changes in the Retirement Readiness Index by applying three different levels of asset utilization ratios (50%, 75%, and 100%), which refer to the conversion ratios of current assets to retirement assets. This study is significant in that it considers longevity risk and applies asset utilization ratios in various ways, outside of the assumption that all current financial assets will be used as post-retirement income, to take a more realistic approach to retirement readiness.