• Journal of Family Resource Management and Policy Review
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• v.8 no.1
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• pp.15-28
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• 2004

Financial planning in the United States has evolved since 1980 from a field comprised of specialists, such as insurance agents, bankers, accountants, and stock brokers, offering particular services to clients, to the situation today, where most professionals offering financial services to households market themselves as comprehensive financial planners. The breadth of knowledge required for financial planning can be seen in the 106 topics covered by the Certified Financial Planner(CFP) Exam. This study reviews the actual conditions of financial planning in the U.S. including suppliers of financial services to household, the philosophy of financial planning, and the financial planning process as described by the CFP Board. Also, this study discusses related research about problems and challenges faced by households in financial planning in the U.S.

• Journal of Families and Better Life
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• v.21 no.1
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• pp.103-111
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• 2003

The Purpose of this research was to investigate the financial service tools for financial planning on the internet. First of all, what kinds of financial service tools were available was looked into and secondly, the sufficiency and the validity of the tools were examined. The deep search of 20 financial service related web-sites was confirmed on June of 2002. The results revealed that there were a variety of calculator for banking and investing and other planning tools. The financial service tools for financial planning looked somewhat abundant, however, the validity of the tools was not high sufficient.

• East Asian Journal of Business Economics (EAJBE)
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• v.2 no.4
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• pp.26-47
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• 2014

The paper examined effect of age cohort on life cycle financial planning. A total of 990 questionnaires were distributed with a 55.2% return rate. Seven hypotheses were analysed using hierarchical and ordinary regression analysis. The results revealed that age cohort variables made significant contribution to life cycle financial planning as well as personal orientation towards retirement planning, particularly the younger age cohort. Age cohorts do affect personal orientation towards retirement planning with the confidence level making a significant impact. Current financial resources do have a strong positive impact on consumption for all age cohorts. On the other hand, no significant effect was found between age cohorts and current financial resources but older age cohorts were relatively more significant predictors. The implication was that not only should their individual perceptions of financial planning become an increasingly important part of people's long-term commitment throughout their life-cycle, it must also assume the role as a self-directed life-long learning process, in view of the ever-changing and complicated financial environment.

• Journal of Family Resource Management and Policy Review
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• v.12 no.1
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• pp.141-157
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• 2008

The purpose of this paper is to examine levels of financial knowledge, to identify the financial education needs of college students, and to show how financial knowledge and education needs correlate. The results of this study indicated that the level of understanding of economy was the highest among the seven categories, whereas the overall level of financial knowledge was less than 50%. The need for financial education was relatively high in various topics of financial management, especially financial planning and savings. There was no significant relationship between knowledge level and educational needs except between financial planning and investment. Students who understand financial planning better want more financial education. College students in this study were not financially independent from their parents, receiving allowance and assistance in tuition payment, so their financial experiences were limited. Students who understood financial management showed greater need of financial education and had more financial experience. The findings in this study suggested that college should provide formal financial education as an elective course, which should include content related to financial planning and various financial products.

• Journal of the Korean Home Economics Association
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• v.35 no.6
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• pp.157-171
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• 1997

The purpose of this study was (1) to assess the level of financial management and financial goal attainment on housing purchase and children's educational expenditure, (2) to identify individual, family and environment variables which influence financial goal attainment, and (3) to investigate causal relation of variables which affect financial goal attainment. Data were collected from questionnaire with 772 married women who were residents of Jeonju. The major finding were as follows; (1) The levels of financial management and financial goal attainment on housing purchase and children's educational expenditure were middle. (2) The variables which exerted direct effects on financial goal attainment on housing purchase were time orientation of consumption life, asset, income stability, easiness in extending credit, financial planning, and financial implementing. the most powerful predictor of financial goal attainment on housing purchase was asset. (30 The variables which exerted direct effects on financial goal attainment on children's educational expenditure were time orientation of consumption life, asset, children's presence on the camp8us, easiness I extending credit, financial planning, and financial implementing. The most powerful predictor of financial goal attainment on children's educational expenditure was financial planning.

• Journal of the Korean Home Economics Association
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• v.32 no.5
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• pp.45-54
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• 1994

The purpose of this study was to investigate the characteristics of financial management styles and retirement planning. The results of this study were as follows: Among respondents systematic managers feeling managers analyzing managers, and holistic managers were respectively 20.1%, 19.5%, 30.8% and 29.6% Several variables such as education total household income and occupation had significant differences by the financial management style. Within the group of retirement planner analyzing manager held the first place whereas holistic manager ranked the first in non-planner group. Retirement planning age which is appropriate for starting to plan the degree of systematic retirement planning and life expectancy had significant difference by the financial management style.

• Journal of Family Resource Management and Policy Review
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• v.22 no.2
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• pp.25-43
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• 2018

The purpose of this study was to analyze the factors that influence middle-aged people's retirement planning and financial preparation for old age. The data was derived from "the National Survey of Families 2015". The samples included 1,462 people from 40 to 64 years of age. The findings from the analysis showed that the level of retirement planning was significantly associated with gender, age, education level, employment status, monthly family income, monthly expenditure on spending to support parents, and perceived household economic condition. When the samples were divided by sex, the results showed that the perceived household economic condition was the most significant factor for both men and women's level of retirement planning. Age and education level were the significant factors for women's level of retirement planning but not for men's. Logistic regression was used to analyze whether middle-aged people made financial preparation for old age. For the whole sample, whether or not a person was a regular employee, monthly family income, monthly expenditure on supporting parents, perceived household economic condition, and retirement planning were significant variables in determining financial preparation. For men, whether or not a person was a regular employee, monthly family income, perceived household economic condition, and retirement planning were significant factors, for women whether or not a person was a regular employee, and retirement planning were the significant factors in determining financial preparation. The results implied that retirement planning is needed for middle-aged people to prepare for old age financially while the financial preparation should differ depending on sex.

• Journal of the Korean Home Economics Association
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• v.30 no.1
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• pp.199-217
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• 1992

The purpose of this study was to examine changes in the household investment planning according to the family life cycle, to improve the household investment planning process, and to develop research model. The results were as follows : Household investment planning varied with stages of the family life cycle because the stock of resources shifted and financial goals changed as the family life cycle stage changed. The main financial goals of family in each stage of the life cycle were the purchasing of house in the establishing stage, children's education and marriage in the extending stage, and the elderly's economic welfare in the diminishing stage. Also, in the Ⅰ & Ⅱ stage the most important investment goals were the purchasing of house, children's education in the Ⅲ stage, children's marriage in the Ⅳ stage, and the elderly's economic welfare in the Ⅴ stage. Therefore, the financial goals were recognized as the important goals underlain the investment-planning goals, and alternatives for the accomplishment of investment-planning goals were determined. The results of this study can contribute to establish the long-run investment planning process and improve the level of household's financial well-being.

• Journal of Families and Better Life
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• v.21 no.1
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• pp.49-60
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• 2003

The purpose of this study is to analyze expenditure on children's private, after-school education, perceptional need for private education, and budget planning pattern for the expenditure of education applying survey data, and to investigate current situation to Identify solving planning for digital age. taking on-line educational service system and internet financial planning for children's educational expenditure into account. Under the purposes, this study especially focused on the condition of on-line educational service system and the merits as well as problems of the system, the need for household financial planning for children's education, and the condition or nature of internet financial planning system, in terms of providing market information and of suggesting policy implications.

• Journal of Family Resource Management and Policy Review
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• v.11 no.2
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• pp.21-42
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• 2007

The purpose of this study was to investigate the overall levels of the middle aged salary men's attitudes toward retirement plan and financial planning for post-retirement life, and to understand the influencing variables such as personal, socio-economical and job characteristics. The data were collected from the 445 middle aged male salary workers through the structured questionnaires and were analysed by SPSS program. The major findings of this study were as follows: First, the salary men had different level of perception of retirement issues and retirement planning for post-retirement life. Second, according to the attitudes for retirement planning types, the affecting variables were different. Third, the results of the analysis showed that personal characteristics, job characteristics, economical background and the perception of family care were affecting the level of financial planning for retirement. And the positive attitude was the most crucial variable which affected the financial planning for retirement.