• Title, Summary, Keyword: baby boomers

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Baby Boomers' Perceptions and Preparations for Later Life Planning : the Comparison with the Former and the Latter Baby Boomers (베이비부머의 노후생활설계 인식과 준비도 : 전.후기집단 비교)

  • Kwak, In-Suk;Hong, Sung-Hee
    • Korean Family Resource Management Association
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    • v.17 no.2
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    • pp.147-172
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    • 2013
  • The purpose of this study was to examine the relative influences of variables that affect baby boomers' perceptions and preparations for later life planning. An age-group comparison was made to examine differences in later life planning within baby boomers. 814 respondents were selected from The National Survey of Korean Families undertaken by the Ministry of Equality and Family in 2010. They were devided into two groups according to the year of their birth, the former baby boomers was 397 respondents who was born from 1955 to 1959, and the latter baby boomers was 417 respondents who was born from 1960 to 1963. The major results of this study were as follows: First, the former baby boomers was less likely to prepare for later life, while was more likely to be aware of their later life planning than the latter baby boomers. Second, educational attainment and the number of children affected the level of perceptions and preparations for later life planning of the former baby boomers, whereas sex and region affected those of the latter baby boomers. Third, household income and subjective awareness of economic status were the major determinants of the preparation level for later life by both the former and the latter baby boomers. Fourth, former baby boomers who had greater awareness of the need to support their parents and their children were more likely to prepare for later life. Fifth, baby boomers' subjective awareness of their economic status chiefly explained the gap between their level of perceptions and their preparation for later life, with the former baby boomers with more children and single-earner households more likely to show a gap between their level of needs and their preparation for later life.

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A Study of the Economic Structure of Baby Boomer Households and the Determinants of Economic Satisfaction in Korea (베이비부머 가계의 경제구조 및 경제적 만족도 분석)

  • Seo, Ji-Won
    • Korean Family Resource Management Association
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    • v.16 no.1
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    • pp.41-66
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    • 2012
  • Recently, Korean baby boomers, which make up approximately 15% of the total population, have begun to retire. Their economic well being is one of Korea's most important social issues. The purpose of this study was to compare the economic structure of baby boomers' households with that of the prior generation, as well as to analyze the determinants of economic satisfaction from the perspective of "work" and "child educational burden." In addition, group comparisons were made regarding economic resource allocation between baby boomers and the prior generation and within baby boomers of different work and child educational burden statuses. Data from the 2nd wave of the Korean Longitudinal Study of Ageing (KLoSA), including baby boomers and the generation prior to the baby boomers, were used. The major findings were as follows. First, the baby boomers had a different economic structure, level of economic satisfaction, and economic resource allocation when compared to the prior generation. The economic structure of baby boomers in terms of income, expenditure, savings and assets, debts, and trust in policies significantly differed from their counterparts. Second, the determinants of economic satisfaction and the propensity of resource allocation were different depending on whether they worked or had a child educational burden, respectively. Based on these empirical results, policy implications for the future economic well being of baby boomers were provided.

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Impact of leisure activity on the leisure economy of Korean baby-boomers (베이비부머 세대의 여가활동 특성과 여가경제에 미치는 영향)

  • Jeong, Young-Keum;Yoon, So-Young
    • Korean Family Resource Management Association
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    • v.18 no.3
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    • pp.61-77
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    • 2014
  • Purpose of this study is to draw policy implications for family resource management's strategies and leisure culture revitalization to Korean baby-boomers. This study review leisure activities characteristics of Korean baby-boomers and find their characteristics' impact on leisure economy. This research analyzed with raw data of "National Research Leisure Activities 2012" in different methods: analysis of frequency, multiple regression analysis, Correspondence Analysis, and etc. As a result, compared to all age groups in Korea, Korean baby-boomers current participation in leisure activities is low, but their expense on leisure is high. Their leisure activities are varied from different genders to their incomes. Especially, baby-boomers, who are on high income, participate in wasteful leisure activities and their consuming behavior will be the mainstream of Korean leisure economy, so economy, which is aiming for baby-boomers, will be invigorated when the economy is more concerned with use values toward time. Particularly, preparing for the retirement of baby-boomers, further researches based on integrated family policy should be considered plans and efforts on encouraging active volunteer works and participation in leisure culture revitalization of Korean baby-boomers.

Factors Associated with Marital Conflict for Baby Boomers in South Korea

  • Sung, Miai;Byun, Joosoo
    • International Journal of Human Ecology
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    • v.14 no.1
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    • pp.103-113
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    • 2013
  • Using data from the 2010 National Survey of Korean Families (NSKF), we investigated factors associated with marital conflict for baby boomers in South Korea. Korean baby boomers are those born during the post-Korean War period from 1955 to 1963. OLS regression examined the marital conflict of these couples. Baby boomer couples reported that they experienced occasional marital conflict; subsequently individual and family level variables explained 15% of baby boomers' marital conflict. The key findings were that satisfaction in spousal communication was negatively associated with conflict for baby boomer couples. However, the existence of unmarried adult children was positively associated with baby boomers' marital conflict. Work and family balance was also negatively associated with marital conflict. We found that the more satisfied with communication with the spouse, the fewer unmarried adult children, and the more work and family balance the couple maintained, the less marital conflict these baby boomers experienced.

The Effects of Social Relationships and Family Relationships on the Life Satisfaction of Married Female Baby Boomers in Busan and Gyeongnam Province (부산·경남지역 베이비붐 세대 기혼여성의 사회관계 및 가족관계가 생활만족도에 미치는 영향에 관한 연구)

  • Kim, Eunkyung
    • Korean Journal of Human Ecology
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    • v.22 no.3
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    • pp.437-453
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    • 2013
  • The purpose of this study was to identify how social relationships and family relationships were associated with the life satisfaction of married female baby boomers who live in Busan and Gyeongnam province. This study included community sample of 499 female baby boomers who were married and had at least one child. Participants reported lower levels of life satisfaction. A hierarchical regression analysis was conducted to investigate the effects of the following variables on the female baby boomers' life satisfaction: subjective health, educational level, monthly household income, employment status, perceived size of social network, participation in leisure organizations, participation in voluntary associations, satisfaction with children, and marital satisfaction. Except employment status and participation in leisure organizations, other 7 variables were significantly and positively associated with the life satisfaction of married female baby boomers. In particular, marital satisfaction had the strongest effect on life satisfaction, followed by satisfaction with children. The results suggested family played a primary role in the life of married female baby boomers. Family life education program~ female baby boomers, their children and husbands need to be developed and offered in order to improve the life satisfaction of female baby boomers.

Generational Divides of Household Wealth and Propensity to Invest in Housing Asset - Baby-boomers and Eco-boomers in the Seoul Metropolitan Area - (세대 간 가계 자산구성 및 주택자산의 투자 성향 분석 - 수도권 거주 베이비부머와 에코세대를 중심으로 -)

  • Lee, Hyunjeong
    • Journal of the Korean housing association
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    • v.26 no.1
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    • pp.109-118
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    • 2015
  • The purpose of this research is to examine generational distinctions of housing investment and household wealth for two different age cohorts - 'baby-boomers' and 'eco-boomers'. In so doing, national survey data of two different periods were analyzed and the primary results are summarized as follows; aggregate assets of both generations have risen, and the rising household debt for baby-boomers was related to loans for living expenses while eco-boomer's debt was ascribed to home-buying loans. In the midst of economic slowdown, the age cohorts had conservative asset allocation in preference for risk-averting investment like savings. The main purpose of saving and investment was distinctive across the groups? retirement for baby-boomers and home purchase for eco-boomers. Both groups prioritized reduction of household liabilities and also were cautious on investing in real estate. Still home-buying was considered to be an important driver for asset accumulation. While baby-boomers were unwilling to dispose any form of owned real estate, eco-boomers found it challenging to take on a long-term investment like home-buying, especially in economic uncertainties. Rather the young generation would diversify asset allocation with better-returning investment commodities like stocks, bonds and derivatives.

Baby boomers' resource transfer of their adult children and level of later-life preparation (베이비붐 세대의 성인기 자녀에 대한 자원 제공과 노후 준비에 관한 연구)

  • Ko, Eun-Bee;Kye, Sun-Ja
    • Korean Family Resource Management Association
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    • v.22 no.1
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    • pp.23-37
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    • 2018
  • This study aimed to investigate resource transfer for baby boomers' adult children and related factors pertaining to baby boomers' later-life preparation. This study was conducted in 2016 using written questionnaires completed by 405 baby boomers residing in Seoul and metropolitan cities in South Korea. The data were analyzed using IBM SPSS Statistics 23.0 and the following statistical methods: frequency, percentiles, the mean, standard deviation, a t-test, one-way ANOVA, Cronbach's alpha, and hierarchical multiple linear regression analysis. Baby boomers' average level of later-life preparation was found to be 3.45/5, a relatively rational score. Baby boomers tended to transfer more resource from their adult children when they had many adult children, were more satisfied with their romantic relationship. Baby boomers' level of later-life preparation was higher when there was lesser resource transfer of their adult children. The greatest influential variables pertaining to the respondents' later-life preparation were their family's income, children's marital status, satisfaction with their romantic relationship, and level of transfer from their adult children. It was concluded that baby boomers have insufficient later-life preparation in terms of finances due to their need to support their adult children; thus, nation-wide practical programs are needed to prepare baby boomers for a happy life.

Female Baby Boomers' Perceptions on Resource Transfers to their Children Who Have Gotton Married or Plan on Getting Married (여성 베이비부머의 결혼기 자녀에 대한 자원이전 인식)

  • Hong, Sung-Hee
    • Korean Family Resource Management Association
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    • v.23 no.2
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    • pp.61-78
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    • 2019
  • The purpose of this study was to examine the resource transfer process from female baby boomers to their children who have gotten married or plan on getting married. The following research questions were explored. (1)To what extent have female baby boomers been transferring their resources to their children supporting marriage or vice versa? (2)What are the opinions of female baby boomers on future resource transfer plans to their children? (3)What are the opinions of female baby boomers on supporting themselves in their old age, and those of their children on supporting their aging parents? In-depth interviews were conducted with 11 female baby boomers who were born between 1955 to 1963. A case study research method was used to analyze the interview results. The findings were as follows. First, economic resource was the most common type of resources that the interviewees transferred to their children. Those who could not transfer their economic resources instead transferred their instrumental resources. Second, it was anticipated that the current trend of interviewees' resource transfers would be similar in the future. In other words, those who used to transfer a large amount of economic resources to their children showed their willingness to do the same in the future. Third, the interviewees did not expect support from their children, but rather were trying to prepare for their old age by themselves. Based on the overall results, the female baby boomers' transferring economic resources to their children implied that they took responsibility for their children. This appears to stem more from to altruistic motivation than reciprocal motivation. Moreover, it can be cautiously concluded that female baby boomers have different perspectives on the transfer of their resources from male's since the interviewees had different opinions on it from their husbands'.

An Investigation of Perceived Value of Physical Exercise In Aging Baby Boomers: Marketing Implications in the Sporting Goods Context at a Store Level

  • George, Spais;Konstantinakos, Pantelis;Avgerinou, Vasiliki
    • Journal of Global Academy of Marketing Science
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    • v.17 no.4
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    • pp.175-199
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    • 2007
  • The linear regression method was used to model the relationship among a set of perceptions regarding to the importance of physical exercise and the perceived value of physical exercise (as a leisure activity) for aging baby boomers. In terms of a pilot study, we developed two alternative models tested at two different convenience samples. The first sample consisted of 82 aging baby boomers aged 55.65 (sample 1) and the second one consisted of 458 citizens aged 18.45 (sample 2). Through this research approach, we intended to lead to a better understanding of perceived value of physical exercise in the sporting goods marketing context for aging baby boomers. We addressed the core research themes of our study using a convenience survey. Data was collected by means of face to face interviews during the seven week period. The research results showed that the "model 2" better predicts perceived value of physical exercise as a leisure activity for aging baby boomers. We believe that the final findings of our research try can recognize the differences in buying behaviors between aging baby boomers and other target markets and advance marketers of sporting goods strategic tries regarding to consumer strategy management at a store level.

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Social Capital for the Baby Boomer Generation in the Future -Focused on Cohort Characteristics of the Baby Boomer Generation- (베이비붐 세대를 위한 미래 사회적 자본 -베이비붐 세대의 집단적 특성을 중심으로-)

  • Cha, Sung-Lan
    • Korean Family Resource Management Association
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    • v.16 no.1
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    • pp.67-83
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    • 2012
  • Baby boomers are often defined by their support of their parents and their devotion to their children's educational success by providing financial and emotional aids. Now, 7.12 million baby boomers in South Korea are retiring, or are about to retire, without any retirement plans. Similar to financial stability, health, and leisure life, social capital is another important element in the quality life after retirement. This is because social capital can function as a potential resource network. Social capital is a source that provides money, information, goods, services, emotional aids, social relational opportunities etc. In the past, family and community provided social capital for the aged. However, the baby boomer generation cannot expect the same. The baby boomers have the task of creating new social capital that can assure their quality of life. Therefore, this study examines cohort characteristics of the baby boomer generation and, based on the examination, seeks an alternative for social capital. The results are as follows: First, social capital from the local community can be an alternative source of caring for the baby boomers in old age. Second, among the social capital of the local community, elderly care supported by a family friendly community is proposed. In addition, baby boomers must become the primary social capital that contributes to a mature civil society rather than a beneficiary of welfare for the aged.

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