• 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.

• International Journal of Human Ecology
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• v.4 no.2
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• pp.55-75
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• 2003

The purpose of this study was to investigate the effect of employment related factors on household savings for precautionary purposes when controlling for financial security and to compare the results between the two different economic periods. A conceptual framework was developed based on the precautionary saving theory, the family stress theory, and previous empirical studies. As a self-insurance, a measure of security funds were developed and used as the dependent variable. Using data on working households in the 1992 and the 1998 Survey of Consumer Finances (SCF), a MLE estimation was conducted on the pooled data. The 1992 and 1998 data were used to reflect periods of economic recession and expansion, respectively. The results suggested that factors representing resources played the most significant role in determining the amount of security funds. Some of the employment related factors, preferences, financial security, and race were also significantly affected the amount of security funds. The results suggested that stable employment conditions were important for households to accumulate security funds. Households with more human resources and financial resources had a larger amount of security funds than those that had less human and financial resources. From the findings, implications for research, policies, and financial educators had been suggested.

• Journal of Families and Better Life
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• v.19 no.4
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• pp.151-165
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• 2001

The purpose of this study is to determine the inheritance consciousness among married people of the middle aged and the elderly. This study employed two complimentary research methods-survey and in depth interviews which were taken from married people over 50 in Seoul and Miryang, Kyungnam. The findings of this study are following : First, most of the middle aged and the elderly agreed to the necessity of inheritance because it may help to improve childrens household-finances and be a means to promote childrens social position. Second, most of them want to succeed before they pass away and do in accordance with their will. Third, the consciousness of the middle aged and the elderly married people about the son-oriented inheritance and the lineal family-oriented inheritance is medial, and they dont want the equal-divided and the optional inheritance.

• Journal of Family Resource Management and Policy Review
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• v.6 no.2
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• pp.133-142
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• 2002

The purpose of this study was to compare characteristics between the parents who saved money for their children's college education and those who did not, in an effort to identify the factors influencing the decision to save. From 1998 Survey of Consumer Finances (SCF), a sample of 1,085 family households was employed. Logistic regression analysis was used to examine the probability of saving for college education. The results showed that higher incomes and financial assets significantly increased the probability of saving for children's college education. The married couples who had higher education and larger household sizes were more likely to save. The age of the youngest child was a significant positive factor in the probability of saving for college education

• International Journal of Human Ecology
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• v.14 no.2
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• pp.79-91
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• 2013

The market for a payday advance, regarded as both a convenient and short term-loan for immediate financial help, has grown incredibly since the 1990's. Despite its popularity by borrowers and the possible benefits, it has received negative publicity. Some borrowers have been caught in a debt trap for a long-term period and at tripledigit interest rates. The objective of this study is to shed light on the borrowers' profiles and their demand for a payday advance. Based on the 2010 household level data from the U.S. Federal Reserve Board, this study finds that payday advance users are pronounced as seemingly risky people. Payday advance users tend to be college drop-outs, African Americans, and non-homeowners compared to non-payday advance users. They are more likely to overspend above their income and have a favorable attitude toward conspicuous spending than non-payday advance users. They tend not to shop at all nor perform even moderate shopping for credit before using a payday advance service as opposed to non-payday advance users.

• Journal of the Korean Home Economics Association
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• v.41 no.6
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• pp.91-104
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• 2003

Using the 1998 Survey of Consumer Finances(SCF), this study examined the factors associated with the probability of saving by female-headed households in the U.S, and investigated how these factors differ by life cycle stages. Age of children, age of female householders and their retirement status were used to categorize three life cycle stages: first stage - have at least one child under age 18; second stage - under the age of 62 and have no children under age 18; third stage - over the age of 62 and retired. Logistic regression analysis results indicated that those with higher education and income and who were White were more likely to save. An interactive model showed that life cycle stages were significantly related to saving decisions. Female-headed households in the first stage or the third stage were less likely than those in the second stage (reference group) to save. For female-headed households in the first stage and the third stage, the amount of income had significantly positive effects on the decision to save. Also, in the group of households in the first stage, the receipt of welfare assistance increased the probability of saving.

• Asian Pacific Journal of Cancer Prevention
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• v.17 no.5
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• pp.2459-2464
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• 2016

Background: Cancer treatments can have long-term physical, psychological, financial, sexual and cognitive effects that may influence the quality of life. These can vary from urban to rural areas, survival period and according to the type of cancer. We here aimed to describe demographics and psychosocial analysis of cancer survivors three to five years post-treatment in rural Australia and also assess relationships with financial stress and quality of life domains. Materials and Methods: In this cross-sectional study, 65 participants visiting the outpatient oncology clinic were given a self-administered questionnaire. The inclusion criteria included three to five years post-treatment. Three domains were investigated using standardised and validated tools such as the Standard Quality of Life in Adult Cancer Survivors Scale (QLACS) and the Personal and Household Finances (HILDA) survey. Included were demographic parameters, quality of life, treatment information and well-being. Results: There was no evidence of associations between any demographic variable and either financial stress or cancer-specific quality of life domains. Financial stress was however significantly associated with the cancer-specific quality of life domains of appearance-related concerns, family related distress, and distress related to recurrence. Conclusions: This unique study effectively points to psychosocial aspects of cancer survivors in rural regions of Australia. Although the majority of demographic characteristics were not been found to be associated with financial stress, this latter itself is significantly associated with distress related to family and cancer recurrence. This finding may be of assistance in future studies and also considering plans to fulfil unmet needs.

• Journal of Family Resource Management and Policy Review
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• v.17 no.1
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• pp.159-178
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• 2013

This study aims to evaluate the retirement income readiness of Korea, a country that-considering its high property asset ratio-is seeing an unprecedented rapid progression of graying. The result of analyzing 6,589 non-retired households in Statistics Korea's Survey of Household Finances (2011) is as follows. First, the Retirement Readiness Index, considering annual income and asset utilization income before including longevity risk, was 70.6. The index increased to 89.5 when utilizing real assets excluding houses and exceeded 100 when utilizing houses. Second, when designating 100 to be the life expectancy and taking into consideration longevity risk, there results were 52.5, 63.7, and 81.1, respectively. Third, since it is less likely for one to use all current financial assets as post-retirement income, the study reviewed the changes in the Retirement Readiness Index by applying three different levels of asset utilization ratios (50%, 75%, and 100%), which refer to the conversion ratios of current assets to retirement assets. This study is significant in that it considers longevity risk and applies asset utilization ratios in various ways, outside of the assumption that all current financial assets will be used as post-retirement income, to take a more realistic approach to retirement readiness.

• Korean Journal of Social Welfare Studies
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• v.49 no.2
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• pp.93-124
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• 2018

Using the Korean Survey of Household Finances and Living Conditions panel data from 2012~2016, this study analyzed youth (19~34 years) poverty and employment and examined the factors that affect employment status. The analysis revealed an increase in the proportion of young people who are students or jobless; the economic conditions of the young people varied by factors such as marital status, education, job status, and loans; and the government public transfer policy had little impact on reducing the relative poverty rate of the youth. We also examined the factors affecting the youth's employment status and the risk of being employed in low-paid jobs, using multi-logit and logit regression model respectively. Considering employment status, the older and more educated the youth were, the less frequently they were employed in temporary or daily jobs instead of regular ones, but there was no difference between genders in terms of having temporary or daily jobs. A logit analysis on the determinants of low-paid jobs demonstrated that women, the less educated, spouses or children of the household, and temporary or daily workers have a greater probability of working at low-paid jobs. As women became older, their risk of having low-paid jobs increased, which demonstrated the phenomenon of "lock-in" at low-paid jobs. Temporary or daily workers of all age groups faced a higher risk of lowpaid employment, which stood out for the youth. Based on these results, we suggest that government employment and welfare policies should consider individual characteristics of the youth and their life cycle, along with efforts to supply decent jobs, continuously and stably.