• Journal of the Korean Home Economics Association
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• v.40 no.3
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• pp.83-97
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• 2002

This study estimates the consumption needs of preretired households through target replacement ratio approach. Based on the Life Cycle Model, this study used the household expenditure function to derive the target replacement ratio appropriate for each household. The target replacement ratio is estimated using the 1996 National Survey of family Income and Expenditure by National Statistical Office. The estimated target replacement ratio was 82.4% for married couple households, and 85.1% for single households. Total retirement consumption needs during entire retirement period was 161,620,000 won for married couple households, and 50,532,039 won for single households.

• 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.

• 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 the Korean housing association
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• v.22 no.4
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• pp.33-41
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• 2011

The purpose of this study was to identify characteristics of space usage patterns by types of elderly households(single or couple). For the study, 74 elders who were older than 65 were selected and their living behaviors at their home during a day (24 hours) were analyzed. Respondents were classified into 6 types based on a combination of their household type, income level and health status. The results showed that the elderly residents tended to live a well-regulated life, however, each type had unique time and space use pattern. For example, the more the elder residents were healthy, the more they used many rooms. Frail elderly residents spent most of the day in their bedroom. Also, if they had a spouse, each one tended to use a separate private room for his or her daily life whether they shared a bedroom or not.

• Journal of Families and Better Life
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• v.19 no.1
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• pp.173-190
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• 2001

The purpose of the study was to provide the informations about the economic status of elderly households. Utilizing the 1996 national household data, economic status was investigated by the components of two financial statements: the income and expense statement and the balance sheet statement. Thus it included incomes, consumption, propensity to consume, savings(financial assets), debt amount and net-savings. The elderly households were compared with the nonelderly households. The subgroups of the elderly were also compared. They were divided based on the employment status of the head and household composition. The results showed that the economic status of the elderly was worse compared to the nonelderly. There were also variations among the subgroups of the elderly households. In general, the economic status of retired households and single households were worse than those of employed households and of the households composed of couple and the elderly living with children.

• Journal of the Korean housing association
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• v.10 no.3
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• pp.89-102
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• 1999

• Journal of Families and Better Life
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• v.21 no.5
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• pp.1-12
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• 2003

Determinants of consumption patterns of elderly couple and elderly single were investigated using the 1996 National Survey of Family Income and Expenditure by National Statistical Office. There were large differences in consumption patterns between the elderly couple and single in terms of monthly expenditures and average budget shares of individual consumption items. Consumption functions of individual items were estimated using double-log function. Major determinants of consumption functions were income, overspending behavior, educational level of householder, and net worth for both groups, householder's job status and city residence mainly for elderly couple, and age of householder mainly for elderly single. In addition, income elasticity of elderly households was larger than net worth elasticity for all consumption items.

• Journal of the Korean Home Economics Association
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• v.19 no.2
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• pp.39-56
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• 1981

This study aims to examine the patterns of family finance management I Jeju island. and then to suggest the desirable directions of family finance management of Jeju households. for the purposes, 157 households were surveyed with questionnaires. This study dealt with the family income forms and family finance management behavior and the relationship between the family income forms and the family finance management behavior. percentage and $X^{2}$were undertaken as statistical methods. the following results were obtained. 1. The family income forms of the households of Jeju Island showed the trend of irregularity and unbalance. And there were 5 types of family income forms. 2. In most of the households, the couple was centered o managing the family finance. 3. In many households, wife holds the responsibility for the cost of family living, and she manages it and the total income. Here we can conclude as follows. For the desirable and balanced household management, they must have some regular and continuous income sources, and try to plan and budget.

• Journal of the Korean Institute of Rural Architecture
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• v.20 no.4
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• pp.31-38
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• 2018

The purpose of this study is to analyze the characteristics and changes of elderly households in rural area. The elderly were classified as elderly living alone, elderly couple living together, and elderly living with their children. Data from the survey of Ministry of Health and Welfare conducted in 1998, 2008, 2017 were used for the analysis. The subjects of the study included a sample of 9,401 respondents who represent aged 65 or more in Korea. The result of analysis was as follows; First, over the past 20 years, there has been no significant difference in the composition of the sexes of elderly in rural area, and aging is becoming more serious. Second, elderly living with children continue to decrease, and elderly couple are increasing. The number of elderly living alone is on the increase, but it tends to decrease in 2017. Third, the proportion of houses in elderly households is still very high, but it is gradually decreasing and the proportion of apartments is increasing. Fourth, the frequency of communication with children tended to increase slightly in all household types, while the frequency of encounter decreased slightly in 2008 and then increased in 2017. Fifth, the health status and economic status of the elderly have been gradually improved over the past 20 years. Finally, the emotional support in all elderly households is maintained constantly, but the instrumental support is gradually weakened.

• 한국노년학
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• v.31 no.2
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• pp.321-341
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• 2011

The purpose of this study is to examine income composition elements, poverty rate, and the effects of the transfer income on poverty decrease comparing grandparents-grandchildren households with living alone, couple, and living with adulthood children. Data come from the first(2005) and the second(2007) Korean Retirement and Income Study(KReIS) and the effects of poverty decrease is examined through reconstruction of LIS income definition. The main findings are as follows. First, the total income of the grandparents-grandchildren in 2006 is the lowest and about one-fourth of the households living with adulthood children. Second, the labor income of all households are increasing but the only grandparents-grandchildren's labor income is decreasing. Third, three of ten in grandparents- grandchildren households are in poverty, the poorest households's type is the grandparents-grandchildren in 2006. Fourth, four of ten in grandparents-grandchildren is able to escape poverty after including private and public transfer income. Especially, the effects of the public transfer income in grandparents-grandchildren households is lower in 2006 than in 2004, thus the role of public income security is strongly needed. Existing research was that the poorest type among the elderly group was the living-alone households, but this results show that grandparents -grandchildren households are the poorest group. Thus, income security policy is highly needed for poor skipped-generation households.