• Journal of Family Resource Management and Policy Review
• /
• v.16 no.2
• /
• pp.59-76
• /
• 2012

This study examines the relationship between intergenerational financial resource transfers and preparation for later life among the middle-aged. The study sample consists of 1536 middle-aged individuals with at least one living parent and one married child. The level of preparation for later life is dependent upon the level of household economic status. The statistically significant variables predicting the level of preparation for later life include age, education, subjective health status, household income and household assets. Moreover, intergenerational resource transfers are statistically significant factors that explain the level of preparation for later life. The effect of financial transfers from middle-aged parents to their adult children on the level of preparation for later life is the most significant financial transfer variable.

• Journal of Family Resource Management and Policy Review
• /
• v.16 no.2
• /
• pp.103-121
• /
• 2012

This study examines whether reciprocity exists in intergenerational resource transfers from middle-aged children to elderly parents. Analyzing data from a sample of 1123 middle-aged adults, this study highlights the importance of reciprocity in the transfer of resources between middle-aged adults and their elderly parents. The possibility of an inheritance shows a very strong effect on care-giving to elderly parents. Furthermore, past financial transfers from parents to middle-aged children correlates strongly with financial transfers from middle-aged children to their elderly parents.

• Journal of Families and Better Life
• /
• v.31 no.4
• /
• pp.131-144
• /
• 2013

Financial transfers between parents and their adult children are a growing trend in Korean society. This study investigates the relation of household assets to intergenerational financial transfers among the middle-aged and focuses on the influences of various types of assets on financial transfers from the middle-aged to their older parents and adult children. The paper presents an analysis of data from the second wave of KReIS on the financial transfers provided by those aged 50-69 years to their parents and children. The results show that around one-fifth of the respondents reported providing financial resource transfers to their parents, and that about one-third of the respondents provided financial transfers to their children. In terms of the other direction of financial transfers, a small percentage of the respondents received financial transfers from their parents; otherwise more than half of the respondents reported receiving financial transfers from their children. The influences of various types of assets are statistically significant on financial transfers to parents, to adult children and from adult children. Specifically the size of financial assets is associated with a likelihood of providing financial resource to both parents and children.

• International Journal of Human Ecology
• /
• v.15 no.2
• /
• pp.69-80
• /
• 2014

Guided by the exchange model, altruistic model, intergenerational solidarity theory, and cultural contexts, this study explored the determinants of financial intergenerational transfers between older parents and adult children in South Korea. We examined 18,820 parent-child dyads by using random-effects models on the first wave of the Korean Longitudinal Study of Ageing (KLoSA) data. Findings showed that downward financial intergenerational transfers were consistent with the self-interest exchange model but upward transfers did not support microeconomic theories. Family solidarity theory was generally supported by downward transfers but geographical proximity was not positively associated with upward transfers. Lastly, cultural contextual variables such as marital status, birth order, and sex of a child were found to be significant. Parents tended to both provide and receive more financial support from unmarried children than from married children. Within the same marital status, the hierarchy existed in order of the first-born son, the second or later sons, and daughters when it came to downward financial transfers. Regarding upward financial transfers, the preference in order was more complicated. The findings of this study help in understanding the intergenerational financial transfers in the Korean context.

• Korean Journal of Family Social Work
• /
• no.53
• /
• pp.161-198
• /
• 2016

This study examined how previous financial and time transfers from mothers to their adult children affect co-residence of elderly mothers and their adult children in South Korea. This study employed multi-level logistic analysis considering hierarchical relationship structures between mothers and their adult children. A sample of 1,925 elderly mothers and 7,460 adult children was extracted from data which were from the first wave (in 2006) to the forth wave (in 2012) of Korean Longitudinal Study of Ageing (KLoSA). The result of the analysis suggested that past financial transfer from mothers to their adult children was not significantly associated with co-residence between elderly mothers and their adult children. However, likelihood of co-residence increased with the amount of time transfer, which was measured by unit of time for elderly mothers' caring for their grandchildren. This study discussed that long-term reciprocal relationships between elderly mothers and their adult children are built by intergenerational support relationships. However, the result that showed only grandmaternal child care affected intergenerational co-residence implies that intergenerational care may play an important role in intergenerational reciprocal relationships. Through these findings, this study suggested theoretical, practical, and policy implications.

• Journal of Family Resource Management and Policy Review
• /
• v.15 no.1
• /
• pp.157-175
• /
• 2011

The purpose of this study is to survey the patterns of intergenerational financial resource transfers among three generations, and to examine the effects of providers' financial resources on intergenerational financial resource transfers. The paper presents an analysis of data from KReIS on the financial transfers provided by the aged 40-69 years to their parents and children. The results show that around one-third of the respondents reported providing financial resource transfers to their parents, and that about half of the respondents provided financial transfers to their children. In terms of the other direction of financial transfers, a small percentage of the respondents received financial transfers from their parents otherwise more than half of the respondents reported having financial transfers from their children. Considering age differences among the respondents, we find that respondents in the age 60s are more likely to receive financial transfers from their children than those in the age 50s or 40s. Statistically significant determinants of providing financial transfers are different from who received transfers.

• 한국노년학
• /
• v.41 no.2
• /
• pp.253-270
• /
• 2021

We examined if intergenerational proximity might be associated with upstream financial transfer from adult children to older parents, and whether adult child gender might moderate the association. We considered siblings' proximity to parents, as well as that of the adult child. Prior work conducted in the US and other countries has suggested that children living further from parents might provide financial support to compensate for instrumental support provided more by siblings living closer to parents. Data were drawn from the Korean Longitudinal Study of Ageing (2014). Our analytic sample consisted of older adults 60+ and their children aged 35 and 55. None of the children co-resided with parents. Parental households consisted of either widowed individuals or married couples. For within-family analyses, fixed effects and random effects regression models were estimated. Results suggest first, sons living within a 30-minute distance, or within an hour to two-hour distance provided more monetary support to married parents compared to daughters. Second, contrary to existing findings, greater financial assistance was provided by sons and daughters when no children lived within an hour distance from their parents. For widowed parents living alone, intergenerational proximity was not associated with the amount of financial transfer from adult children.

• Journal of Family Resource Management and Policy Review
• /
• v.21 no.1
• /
• pp.19-44
• /
• 2017

The intergenerational transfer between parents and children is a major concern due to low birth rates and aging society of Korea. This study investigated the influences of children's support for parent regarding parents' decision to bequest, including the influences of parental characteristics, household-related factors, and characteristics of children. The data are the 5th wave of KReIS, a sample of 1,834 married household heads(HHs), which were classified into 142 baby boomers (1955-1963), 534 post-liberation HHs (1945-1954), and 1,158 Japanese-era HHs (-1945). The results were as follows: First, 49.3% of baby boomer HHs, 59.2% of post-liberation HHs, and 59.1% of Japanese-era HHs, were willing to make bequest decision. Second, in the baby boomer HHs, although the children's contact with their parents represented an emotional resource transfer, a child's economic resource transfer to his/her parents did not affect the parents' bequest decisions. However, in the post- liberation HHs, children's contact with parents, and economic resource transfers were significant variables. In addition, in the Japanese-era HHs, only children's contact with their parents was a significant variable. Third, in the baby boomer HHs, the variables that influenced parents' bequest decisions were household financial assets and having a daughter rather than having son and daughter. However, the variables that heavily influenced bequest decisions of the post-liberation HHs were the presence of a spouse, home ownership, household expenditures, and satisfaction of relationships with children. In the Japanese-era HHs, the variables that significantly affected parents' bequest decisions were home ownership, household expenditures, and household financial assets.

• Korean Journal of Social Welfare
• /
• v.63 no.2
• /
• pp.133-154
• /
• 2011

This study aimed to examine the relationship between the expectation of independent life in old age and intergenerational downward transfer of Korean old people. It was focused on old people who did not live with their adult children by using the raw data of "2008 the Korean study of Welfare Services for the Elderly". The data were analysed by multiple regression analysis. The results showed the degree of the expectation of independent life in old age had positive effect on economic and service downward transfer of old people. Concretely, the degree of the expectation of economic and physical independence had positive effect on economic and service downward transfer of old people. The degree of the expectation of emotional independence had positive effect on service downward transfer of old people, while it had no effect on economic downward transfer.

• Journal of the Korean housing association
• /
• v.26 no.2
• /
• pp.89-101
• /
• 2015

The purpose of this study is to explore the housing pathways of middle-class married women toward owning a first home. In doing so, an in-depth interview as a qualitative method was conducted, life history was utilized to track down the path to first-home owning, and all the interviews were transcribed for analysis. The research participants were well-educated middle-class full-time housewives owning a home. The findings indicated that family formation through marriage and child birth was a primary driving force to buy a home. It was shown that owning a home was perceived not just as a stepping stone for building both family wealth and social capital but as one of the most important pillars to reinforcing traditional family values. In spite of some intergenerational distinctions on the path toward home owning, commonalities across generations included that home owning was considered to be a social icon for middle-class, it became almost impossible for younger generations without parental support which stimulated the intergenerational transfer of wealth, and it was greatly determined by both family income (affordability) and home finance options(borrowing capacity). This research implies that the changing social landscape transforms the value on homeownership and could undermine the socioeconomic strengths of home owning. Nonetheless, it's of importance to strategically assist first homebuyers who are likely to be a member of middle-class.