• 한국노년학
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• v.40 no.4
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• pp.639-657
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• 2020

The purpose of this study is to analyze the effect of individual differences in recognition of retirement responsibility on financial preparedness for retirement and to examine moderating effect of income-level on the relationships between the two variables, using the 7th Korean Retirement and Income Study(KReIS). Two research methods, descriptive analysis and hierarchical multiple logistic regression(HMLR) analysis, have been conducted. The total number of sample was 3,869 subjects with an average age of 58.9 years and 55.3% males. The results show that only 35.8% of the respondents make financial plans for retirement, and 64.2% did not. Main findings are as follows. First, 65% of respondents take a responsibility for financial preparedness for retirement, compared to 37% in European countries. Second, people with responsibility for their own retirement are more likely to have a financial preparation for retirement than people who think others(family, society, government) have to take a responsibility for retirement instead of them. Third, there is a significant moderating effect of income-level on relationships between recognition of retirement responsibility and financial preparedness for retirement. As income level decreases, the moderating effect reduces the positive effect of recognition of retirement responsibility on financial preparedness for retirement and vice versa. Fourth, as income level increases and educational level is higher, the tendency to prepare financially for retirement is also increasing. Low-income and low-educated people are less likely to have a financial preparation for retirement than their counterparts. The findings suggest that it is necessary to design an effective incentive scheme for financial preparedness for retirement for low-income and low-educated people and to develop various policies and services to encourage them to prepare financially for retirement.

• International journal of advanced smart convergence
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• v.10 no.3
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• pp.105-112
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• 2021

This study was conducted on 878 retired women in their 50s and 60s across the country using the 7th data from the National Pension Service's KReiS. We used SPSS WIN 18.0, and the analysis results are as follows. First, there were many highly educated people in their 50s or older and those in their 60s and undereducated. Second, families in their 50s had the largest number of members with more than three, while households in their 60s had the largest number of two. Third, both age groups chose themselves and their spouses as responsibilities for preparing for retirement. In addition, more people in their 60s chose the government as their responsibility for preparing for retirement than in their 50s. Both people in their 50s and 60s say they are "not prepared" to prepare for retirement expenses, raising concerns about elderly poverty. Fourth, economic strength, health, and medical care were important for retirement in both age groups as part of their preparations for retirement, and they chose economic strength, health, medical care and job as the things to do in society. Fifth, both people in their 50s and 60s have very low public and private pension subscription rates, requiring special attention from the government and society to their old age. Judging from the above results, both women in their 50s and 60s have retired, but preparations for retirement are very insufficient. Therefore, the government and society need to strengthen the public pension system and create jobs for the elderly.

• Journal of Digital Convergence
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• v.11 no.11
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• pp.117-132
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• 2013

This study shows how financial education for middle-age affects their remaining life (economic, physical, emotional and social) and improves the way of preparing for their old age through 355 questionnaires using SPSS 18.0, factor analysis, t-test and ANOVA program. The results obtained are summarized as follows: Firstly, The importance of financial education has been differently perceived by the age, marital status, income and religion. Secondly, the necessity for early financial education and retirement preparation have been comprehended by analyzing the effects of the financial education on their old life. Thirdly, Attitude for retirement has affirmative effects on the self respect, economic stability and leisure activity.

• 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.

• Human Ecology Research
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• v.53 no.2
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• pp.179-193
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• 2015

This study examined the retirement adaptation process for middle-aged and elderly couples. Twelve couples who had experienced retirement were recruited by theoretical sampling. Data were collected through in-depth interviews and analyzed through the grounded theory approach of Strauss and Corbin (1998). This study showed the results of 124 concepts, 41 sub-categories and 17 categories indicated through an open coding process. As a paradigm in axial coding, the causal conditions in the adjustment procedures of elderly couples whose spouses are retired were 'retirement preparation,' 'retirement acceptance,' and 'marital satisfaction.' A central phenomenon was 'crisis and conflicts of twilight couples.' The contextual conditions that correspond to this phenomenon were 'psychological separation from adult children,' 'division of household labor,' and 'economic status.' The action/interaction strategies to control the phenomenon were 'recognition of marital relationships,' 'conflicts coping,' 'resolution methods,' and 'self-reflection.' The intervening conditions that facilitate action/interaction strategies were 'attitudes of husbands,' 'mutual awareness of couple,' 'health status,' and 'support systems.' The consequences were 'readaptation of marital relationships,' and 'unresolved conflicts,' and 'trying alone.' This research classified middle-aged and elderly couples' adaptation into three types such as mutual effort, separation & resignation, and conflicts vestige. The findings provide basic information to develop a retirement adaptation program for the middle-aged and elderly.

• Communications for Statistical Applications and Methods
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• v.27 no.6
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• pp.649-673
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• 2020

This paper makes a theoretical contribution by providing clear and detailed derivation of economic agents' decision problems including elastic labor supply in Gertler's overlapping generation (OLG) model. We apply the model to the Korean economy by calibration based on Korean economic data. It also analyzes the impact of current social issues such as aging and extension of retirement age, on the Korean economy in a long-run equilibrium. Subsequently, we also discuss the implications of the analysis. Aging has prolonged the period of retirement; therefore, population structure changes by the increase in the proportion of retirees, the total consumption-to-GDP ratio decreases, and capital stock increases due to reduced propensity to consume out of wealth in preparation for an individual's retirement life. The implementation of retirement age extension increases the proportion of retirees relatively less and alleviates fluctuations in labor supply and the share of financial assets for both economic agents. However, the decrements in consumption-to-GDP ratio is larger than before, and this leads to a larger rise in the capital stock compared to when there is only an aging effect.

• Journal of Digital Convergence
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• v.13 no.4
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• pp.137-146
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• 2015

The aging process in this country is underway at the fastest pace compared to those of the leading countries. On the other hand, preparing for retirement funds is more difficult than before due to the impact of slow interest rate and slow growth. The purpose of this study is to examine the necessity of providing various financial services in preparation for the future aging era. After analizing the various materials and utilizing a survey of the bank employees and the general public, we have found the followings. The replacement rate of this country, 55%, is much lower than the suggested level of World Bank, 75%. Also, the pension ratio in the income after retirement of this country is much lower compared to those of the States and Japan. The most people who participated in the survey needed ￦2,000 - ￦2,990 thousand for monthly living expenses after retirement. For the retirement funds, the higher the age the higher proportion of savings deposits they want, and the lower the age the higher proportion of insurance and pension products they want. Based on these analyses, the necessities of developing financial life planning which includes both financial and non-financial sides, retirement funds management according to age, revitalization of housing pension and developing diverse retirement funds are suggested.

• 한국노년학
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• v.36 no.4
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• pp.959-979
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• 2016

This study was performed to explore the life experience as a teacher was dissolved in life aimed at elementary school female teachers. The selection of the four-year teaching career more than 35 years, from January to November 2015 and retired teacher retirement not more than three years to 2015, five people in the study participants were conducting research. Research method was approached narrative interview method of qualitative research, Sch?tze of biographical research methods utilized in exploring how narratives. Results from this study showed the biographical curve through the 'biographical statement', 'experience the life of a female teacher','difficulties experienced in the reality of female teachers', 'reward as a teacher', divided into the categories' 'post-retirement life adaptation types'. These findings are in accordance with the retirement teacher pointed out the lack of social adaptation programs, such as training or preparation for life after retirement, With the increasing need for pre-retirement training is to prepare for life after retirement were suggestions that the government offers programs and information about the life after retirement is necessary.

• Journal of the Korean Home Economics Association
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• v.45 no.1
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• pp.9-21
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• 2007

This research investigated the retired elderly who had moved to rural areas. The propose of the study was to examine the point at which there must be a difference in the patterns of a return to farming and determine the actual condition of their preparations for migration. This study had surveyed 408 seniors who wereare over 50 years old and had moved to rural areas after their retirement and analyzed the data by the SPSS PC 11.0 program. The results were as follows. First, the relevancy of U-turn, J-turn, and I-turn types that were affected by social demography was found to be dependent on their education levels and family patterns. Second, the actual conditions of the process of preparation by the types of a return to the farming were different according to the motivation and preparation fund. Nevertheless, the most important factor was the influence of their spouses. Third, the actual conditions of the process of adaptation by the patterns of a return to the farming showed no difference between the degree of efforts of the social supportand elevation of the friendship among the neighbors. The recognition of rural life problems were more acquainted towards the area of farming life. Among the 6 problem areas, leisure, health care, and economic problems were highly considered.

• International Journal of Advanced Culture Technology
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• v.6 no.3
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• pp.59-68
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• 2018

This study was a cross-sectional descriptive study of the effects of emotional happiness on aging preparation for 45-60 year olds. Participants of this study were 312 volunteers and data was collected online, the collection period was from May 15, 2018 to May 31, 2018. The tools used in the research were the emotional happiness developed by Watson et al (1988) et al., the aging preparation developed by JH Lee (2009). Analysis was done using t-test, ANOVA, Pearson correlation, and regression by SPSS 18.0. As a result of the analysis, 84.0% of participants felt physically healthy and 89.8% felt mental health. The spouses of participants were physically 83.4% healthy and mentally 82.7% healthy. The correlation between emotional happiness, health cognition and aging preparation showed that physical health had a correlation with mental health (r = .482, p <0.01) and emotional happiness (r = .369, p <0.01), economic aging preparation (r = .411, p <0.01), social aging preparation (r = .119, p <0.01). Mental health was correlated with emotional happiness (r = .491, p <0.01), economic aging preparation (r = .411, p <0.01) and social aging preparation. Difference between emotional happiness and retirement preparation according to presence or absence of disease, emotional happiness (t = -4.503, p <0.01) and economic aging preparation (t = -4.960, p <0.01) were statistically significant. Emotional happiness affects the preparation of old age, emotional happiness affects to physical aging preparation under statistical significance (F=25.191, p<0.01), economic aging preparation (F=1131.783, p<0.01), and social aging preparation (F=147.672, p<0.01) which were sub components of aging preparation. Emotional happiness showed a 7.5% effect on the preparation of physical aging, 78.4% on economic aging preparation and 32.3% on social aging preparation. Based on the above results, it can be concluded that physical health and mental health are related to emotional happiness, economic aging preparation, and social aging preparation. And also these results can be inferred that the illness causes emotional less feeling of happiness and economic difficulty. Based on the results of this study, emotional well - being influences the retirement preparation significantly at statistical significance. Therefore, if the concept of emotional happiness is introduced to the old-age preparation program, it will be more client centered program.