• 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 Korean society of Dental Hygiene
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• v.15 no.3
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• pp.379-387
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• 2015

Objectives: The purpose of the study is to investigate the influencing factors of retirement expectation on retirement preparation in the dental technicians. Methods: The subjects were 231 dental technicians in Seoul. A self-reported questionnaire was completed from July 1, 2014 to September 30, 2014. The study instrument was adapted from Bae and Jeon. The questionnaire consisted of 42 questions including 6 questions of the general characteristics of the subjects, 2 questions of health status and self-esteem, 20 questions of retirement expectation, and 14 questions of retirement preparation measured by Likert 5 scale. Results: Single, younger aged, and highly educated female tended to have the expectation for the new start of career. The expectation for the rest was higher in single than in the married. The influencing factors of retirement expectation were marital status. Those who were single chose the retirement. Those who had long career preferred the new start. Conclusions: The preparation for the retirement is very important in one's life and it is necessary to provide the concrete method and plan for the dental technicians in the future.

• Journal of Family Resource Management and Policy Review
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• v.16 no.4
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• pp.131-152
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• 2012

The aims of this study were to analyze middle-aged households' financial preparation for retirement. Specifically, this study surveyed the relation between human capital investment for children and the middle-aged households' financial preparation for retirement and investigated factors influencing financial preparation for retirement. Data were obtained from the 3rd Korean Retirement and Income Study (KReIS) in 2009, and a sample of 757 households was selected. The statistical methods were frequency, percentile, mean, standard deviation, ${\chi}^2$, t-test, Pearson's correlation coefficient, and logistic regression analysis. The findings of this study are as follows. First, the percentile of preparation for living costs for old age was 49.9% for the middle-aged households. In terms of the types of preparation for living costs for old age, the results showed 61.6% of personal preparation, 33.9% of pension system, and 1.3% for children and relatives. In relation to the adequacy of the preparations for living costs for old age, preparations made by 57.4% of the middle-aged households were inadequate. Observing the minimum living costs for old age and adequate living costs after retirement for single and couple, the minimum living costs of the middle-aged households was 1.46 million won for couple and 0.91 million won for single. The adequate living costs for old age was 2.07 million won for couple and 1.34 million won for single. Second, there were 757 households with total education expenditure. Of these, 208 incurred annual expenditure on public education, and the annual expenditure for public education was 7.28 million won. There were 170 households with annual expenditure for private education, and the annual expenditure for private education was 2.50 million won. 243 households of middle-aged households had annual expenditure for human capital investment, including both public and private education, with annual expenditure for human capital investment for children of 7.82 million won. Furthermore, in the human capital investment factor, there was a difference in the middle-aged households' financial preparation for retirement according to their annual expenditure for human capital investment including both public and private education. In addition, there was a difference in financial preparation for retirement based on their public education expenditure. Third, in the logistic regression model 1, which included human capital investment, the significant variables affecting the preparation for retirement of the middle-aged households were as follows : annual household income, total amount of annual household income, experience of inadequate living costs, existence of financial assets, total amount of annual household savings, financial independence, adequate living costs (for single) for old age, and human capital investment. In the logistic regression model 2, which included annual expenditure for public education and annual expenditure for private education, the significant variables affecting the preparation for retirement of the middle-aged households were as follows : annual household income, total amount of annual household income, experience of inadequate living costs, existence of financial assets, total amount of annual household savings, financial independence, adequate living costs (for single) for old age, and annual expenditure for public education.

• The Journal of Industrial Distribution & Business
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• v.10 no.12
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• pp.25-34
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• 2019

Purpose - In this study, we would like to analyze how the general characteristics of retired senior citizens affect directly the satisfaction of retirees' lives. As the life cycle continues to grow longer, post-retirement environment is recognized as important, and this study is conducted to analysis the factors that concerns which parts influence future retirement life. Research design, data, and methodology - First, Pearson's correlation analysis was conducted to analyze the correlation between the satisfaction of retirement life and the characteristics of the elderly. Secondly, a one-way analysis of variance was conducted to find out the difference in the satisfaction level of post-retirement life depending on the characteristics of the elderly. Results - First, the demographic factors for the satisfaction of retirement life have shown a definite difference. Second, the family factors for the satisfaction of retirement life have shown a clear difference. Third, financial factors for the satisfaction of retirement life have shown a clear difference. Conclusions - Early retirement, especially in major jobs, is the basis for incomplete retirement preparation, which is a factor in unstable later life. If a prospective retiree can retire in a predictable retirement age, it would be sufficient to prepare for retirement in various areas, or to prepare for further directions.

• The Journal of the Korea Contents Association
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• v.16 no.9
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• pp.66-77
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• 2016

This research defined causal relationships among the perception of retirement and senior life(PRSL), retirement preparation actions(RPA), and retirement satisfaction level(RSL) to know the expectation about retired life according to the differences of retirement related factors, PRSL, and RPA. For this, From November 2015 to February 2016, I researched from 20 to 69, 1,500 currently working adults in the country, mailing surveys with the letter introducing this research's purpose and procedure and having them send them back, or researcher's spreading and collecting the surveys, eliminating 83 cases of negligent answers, finally analyzing 1,417 surveys. The result shows age, monthly income, and residing at their own places made more positive PRSL, RPA, financial retirement preparation level(FRPL), and expectancy about satisfactory retirement life. When they had less children, PRSL and RSL were higher. When they had more children, RPA was more proactive, and FRPL was higher. When they had positive PRSL, RPA was more proactive, and expectancy about retired life was higher. This research is significant in defining differences of retirement related factors and causal relationships among PRSL, RPA, and RSL.

• Journal of Family Resource Management and Policy Review
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• v.18 no.4
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• pp.27-52
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• 2014

This study aims to investigate the financial soundness of Korean households and its effects on the retirement preparation of these households. The sample consisted of 1,031 households selected from the 4th Korean Retirement and Income Study (KReIS) by the National Pension Research Institute in 2012. The empirical results are as follows. According to the logistic regression model, the statistically significant factors affecting the retirement preparation of Korean households are gender, occupation type, residence, satisfaction with economic condition, and type of financial soundness-sound households or insolvency-risky households. In other words, more female-headed households and households with higher levels of occupation are less likely to prepare for retirement. The households that are more likely to prepare for retirement are those that are lived in metropolitan areas as opposed to the countryside; further, households that are more economically sound are also more likely to prepare for retirement. In particular, sound households and insolvency-risky households are less likely to prepare for retirement compared to liquidity-risky households.

• The Journal of the Korea Contents Association
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• v.16 no.2
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• pp.467-479
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• 2016

The purpose of this study is to check effects on the awareness of parents supporting in their self retirement preparation of the baby boomer generations who have faced relatively bad situation in this era considering the reality of great changes brought in the parents supporting spirit which was regarded as family and individual responsibility due to the rapid industrialization and urbanization. In the result of this study, some points such as religious, living status and monthly average earning show meaningful result and also all of the colligation in the retirement preparation standard concerning economic living life, health life, leisure time, family life, dwelling life and leisure life shows most significance probability of .001(*p<0.05) and retirement preparation standard relative to economic life indicates significance probability of .005(*p<0.05). Eventually this result shows that the higher people have retirement standard, the higher parents supporting sprit they have. So I would like to suggest some policy advices on the basis of this study. First stable supporting policy on their dwelling life should be assisted by differential methods, secondly social programs aid for leisure life through social activities like volunteer work are required, further more national based policy supports for youngsters are considered in order to reduce economic daily life on their economic activities.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.33-48
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• 2014

The purpose of this study was to investigate the relationships among the work satisfaction and quality of life with retirement preparation of middle-aged workers. Data from 283 subjects were collected and analyzed. The findings are as follows. First, people with higher quality of life tend to care more on health planning. Second, financial planning has nothing to do with quality of life, whereas self-respect has a positive effect on all the other indicators for retirement preparations except financial planning. Third, retirement preparations has not been affected by work satisfaction. The theoretical and practical implications of the findings were discussed and the directions for future research were suggested.

• The Journal of the Convergence on Culture Technology
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• v.6 no.4
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• pp.267-274
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• 2020

This study examines the relationship between retirement preparation, positive psychological capital and successful aging for retirees and retirees, promotes successful aging of retirees and retirees, and increases positive psychological capital to increase desirable retirement time. I want to find a direction I can have. This study was conducted on 537 retirees and retirees who were preparing for retirement or retired from across the country as a structural relationship analysis, and the data collection period was from April 1 to April 20, 2019. As for the data, frequency analysis, correlation analysis, and structural relationship analysis were performed using SPSS 20.0 and AMOS 9.0. As a result of the study, retirement preparation of retirees and retirees had a negative relationship with successful aging, and retirement readiness had a positive effect on self-acceptance of successful aging and autonomous life as mediators of resilience of positive psychological capital and self-efficacy. This means that the positive psychological factors of positive psychological capital have a positive effect on retirees and retirees who are struggling with anxiety about retirement preparations, enabling a successful retirement life. Therefore, when operating a retirement preparation program, it is necessary to organize and operate a program that can expand positive psychological capital.

• The Journal of Industrial Distribution & Business
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• v.10 no.10
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• pp.15-21
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• 2019

Purpose - This study is intended to explore influential factors on the life satisfaction of physically challenged laborers preparing for support plans for their future. This is to enjoy a better life and have social opportunities and to review institutional support or plans for implementation to be applied for physically challenged people. Research design, data, and methodology - 4,161 disabled people participated in the Panel Survey of Employment of the Disabled. Among 2,124 physically challenged people, 957 wage workers (45%) were primarily extracted in this study, and a total of 581 (27%) with sufficient responses on the questionnaires were finally selected. Results - First, physical preparation for later life had a positive influence on retired life satisfaction among retirement satisfaction. People showed higher retired life satisfaction. Secondly, physical preparation for later life had a positive influence on satisfaction over relationship after retirement among retirement satisfaction. Conclusions - In this study, it was found that job satisfaction was the variable with the highest influential power on life satisfaction. Therefore, it seems to be necessary to proceed a research as to which factors influence life satisfaction in the medium of job satisfaction and also about plans to improve job satisfaction on experts or the disabled.