• Journal of Family Resource Management and Policy Review
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• v.15 no.4
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• pp.65-78
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• 2011

The purpose of this study was to examine the experience of retirement and how life satisfaction after retirement differs depending on the individual, family, and social characteristics of middle-aged and elderly Korean men and the experience of retirement. Data were drawn from the first wave of the Korean Longitudinal Study of Ageing (KLoSA). The sample consisted of 278 retired middle-aged and elderly Korean men aged between 45 and 64. The results showed that middle-aged and elderly Korean retirees' reasons for retirement differed depending on their health satisfaction. In addition, their retirement satisfaction varied according to their education, health satisfaction, economic satisfaction, and reasons for retirement. Regarding their life satisfaction, it was predicted by their age and satisfaction with health status, economic situation, marriage, and relationship with their children.

• Journal of Families and Better Life
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• v.27 no.1
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• pp.1-16
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• 2009

Using the 2007 Fund Investors Survey, we investigated (1) the differences in economic status in terms of household income, consumption, saving, assets and debts, (2) the differences in financial management behavior, (3) and the differences in confidence in economic status after retirement between households conducting and not-conducting financial preparation for retirement. The major study findings were as follows. First, only 46.4% of the households were financially preparing for retirement. The levels of income, consumption, and saving were higher among households conducting financial preparation for retirement than among those not-conducting such financial preparation. Second, households conducting financial preparation for retirement had a relatively high propensity to save. Their financial asset portfolio had a higher weight in safety assets and investment assets than in retirement assets. Due to their lack of confidence in their economic status after retirement, their demand for financial preparation for retirement remained. Third, the households which did not conduct financial preparation for retirement tended to have a relatively heavy debt burden and not to implement general household financial management practices. Fourth, among the three-pillar retirement income system, the second pillar, of individual retirement account was not well established. Based on these results, various implications were suggested.

• The Korean Journal of Health Service Management
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• v.12 no.3
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• pp.131-141
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• 2018

Objectives: This study was designed to determine the effects of middle-aged men's family functionality and self-efficacy on their retirement anxiety, in order to produce methods to alleviate this anxiety, including providing basic information for devising programs that help middle-aged men get better adjusted to and increase their awareness about retirement. Methods: For data collection, the study surveyed 364 middle-aged men who were residing in B Metropolitan City from February. 10 to 25, 2017. Results: This study found that the primary factor influencing middle-aged men's retirement anxiety is self-efficacy, for which the explanatory power for the surveyed men's retirement anxiety was 52.0%. In contrast, family functionality had no effect on retirement anxiety. Conclusions: To make middle-aged men less anxious about retirement, a variety of programs must be created and implemented that help them improve their self-efficacy prior to retirement. Furthermore, these men should be provided with educational and intervention programs that facilitate their adjustment to retirement and increase their awareness about retirement.

• 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.9 no.1
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• pp.113-130
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• 2005

The purpose of this study was to show the expected age of retirement of the couple, husband and wife, individually, the difference between the expected age of retirement of the husband and that of the wife, and to analyze contributing variables. The sample in this study numbered 517, of which 229 were husbands and 288 were wives. The independent variables were divided into three factors including personal, financial, and work related variables. The results of this study were as follows. Among two earner households, both husbands and wives expected the husband's age of retirement to be higher than of the wife. The difference between the husband's expected age of retirement and the wife's expected age of retirement was five years, on average. For the husband, personal, financial, and work related variables had effects on his expected age of retirement. However, for the wife it was only the perception of future work life and expected age of retirement of the partner which had very significant effects statistically. The variables affecting the difference between the expected age of retirement of the husband and that of the wife included the personal variables as well as interaction of the couple related variables. The results showed that first of all, the planning of retirement among two earner households needs to be focused on the couple rather than on the individual.

• Journal of Family Resource Management and Policy Review
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• v.11 no.2
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• pp.1-19
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• 2007

The purpose of this study was to analyze the affecting factors on employed mens' retirement and reemployment decision making. The focus was on the process of employed mens' decision on retirement and their reemployment decision after retirement from present job. The major findings were as follows ; First, the employed men who had a retirement plan were having more household income, more household net asset, more savings and investment for elderly life, and more positive attitude toward retirement. Second, the major factors affecting on having retirement plan or not were employed mens' age, household income, expected income after retirement, savings and investment for elderly life, job, and attitude toward retirement. Third, the major affecting factors on expected retirement age were employed mens' age, health status, job security, and attitude toward retirement. Forth, the employed mens' reemployment decision was affected from their household income, expected income after retirement, pension ownership, and attitude toward retirement. From the findings, it can be concluded that the employed mens' age, economic status, and attitude toward retirement played a important role in the process of retirement and reemployment decision making.

• Journal of Family Resource Management and Policy Review
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• v.17 no.4
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• pp.171-187
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• 2013

Individuals are increasingly required to take more responsibility for their own retirement. The purpose of this study was to investigate the efficacy of counseling for retirement planning on awareness and behavior related to retirement preparation. The data came from 3,561 adults who received counseling from National Pension Service. The major findings can be summarized as follows : (1) There were significant changes in awareness and behavior for retirement preparation after receiving counseling services ; (2) young age, type of counseling (comprehensive diagnostics for retirement preparation), and counseling method (face-to-face) had a positive effect on changes in awareness and behavior ; and (3) expertise and adequacy of counseling, as well as the attitude of counselors, had an influence on changes in awareness and behavior.

• Journal of Family Resource Management and Policy Review
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• v.13 no.4
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• pp.95-114
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• 2009

This study compared demographic, economic and career characteristics between a traditional retirement group and a gradual retirement group. From the 2005 Korean Retirement and Income Study (KReIS), 780 traditional retirees and 265 gradual retirees were selected. A t-test, chi-square test and logistic regression analyses were completed. The findings of this study were as follows: First, there are gender and age differences between the traditional retirement group and the gradual retirement group. The gradual retirement group has a high proportion of male workers and older workers compared to the traditional retirement group. Second, members of the traditional retirement group have more income, more assets and less debt than members of the gradual retirement group; therefore, their financial structure is comparatively stable. Third, there is a large percentage of blue-collar workers (e.g., technical service, repair, operatives) in the gradual retirement group. Members of the gradual retirement group had worked for a shorter period during their career and had a lower wage rate than members of the traditional retirement group. Finally, male workers who are in their 60s and 70s, who do not have a public transfer income but have a higher level of career income, and are older when they end their career, are less likely to retire gradually. As they also have a higher level of debt, the probability of these workers selecting a gradual retirement route is high.

• Journal of Family Resource Management and Policy Review
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• v.17 no.1
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• pp.199-219
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• 2013

The purpose of the study was to investigate the effects of money transfer between generations on preparation behaviors for retirement, separated into assets and saving for retirement. The survey was conducted by targeting 422 married people across the nation. The factor of money transfer between generations was defined as the inheritance and gift variable. The data were analyzed using SPSS 20. Correlation, analysis of variance (ANOVA), and multiple regressions were utilized. The results indicated that preparation behaviors for retirement are affected by the economic independence of parents, inheritance, expenses for children's education, and marriage. Retirement assets were significantly affected by inheritance, the economic independence of parents, educational expenses for children, financial assets, and amount of debt, while the significant factors related to retirement savings were interests on retirement, income, wedding expenses for children, economic independence of parents, and educational expenses for children. It was concluded that the financial preparation for retirement ought to be expanded from one household's finances to finances between generations.

• Journal of Families and Better Life
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• v.24 no.3 s.81
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• pp.95-115
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• 2006

The purpose of this study was to analyze the affecting factors on male salary workers' pre-retirement plans and pre-retirement planning programs. The focus was on male workers' pre-retirement plans and programs for economy, housing, family relationship, leisure and health care in their elderly life. The major findings were as follows: First, the salary workers estimated their level of economic and health problems among their elderly life as relatively high. Second, the major factors affecting the level of planning for post-retirement were salary workers' age, job satisfaction, and reserved savings for their elderly life. Third, the major affecting factors on participation in pre-retirement planning programs were age, educational attainment, and spouse's job status. From these findings, it can be concluded that salary workers' level of pre-retirement planning and the needs of pre-retirement planning programs differed from their personal characteristics and preferences. Also, salary workers' characteristics related to job and retirement had more important effects on their pre-retirement planning than economic status.