• The Journal of the Korea Contents Association
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• v.17 no.9
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• pp.449-465
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• 2017

Small and medium-sized company workers are ill-prepared for retirement due to low wages and poor working conditions, as result, are likely to get into poverty in retirement. The purpose of this study is to conduct a case study on the current status of financial and non-financial retirement preparation of the small and medium-sized company workers. The main findings are as follows. First, the small and medium-sized company workers show the anxiety about retirement. Many pre-retirees worry that their retirement savings may not generate enough income in retirement, and the level of benefits paid in public pension is inadequate. Second, they are preparing for retirement in the areas of finance, health, working after retirement and social activity. Third, they are realistic and practical in retirement decisions makings. they are considering household budget downsizing, cutting education costs, the low-waged job choice and cash flow preference in retirement. The safety and reality in preparation for retirement are top considerations. In conclusion, this case study shows that pre-retirees of small and medium-sized companies are seeking diverse retirement solutions. We need to design integrated and practical retirement planning programs to support their specific retirement needs.

• Journal of Families and Better Life
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• v.34 no.5
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• pp.53-68
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• 2016

Financial preparation for retirement means making financial plans by predicting expected incomes and expenditures needed for maintaining success in later life. Because this preparation needs long-term planning, preparing as early as possible is recommended. This study, therefore, uses theory of planned behavior for examining the intention of financial preparation for retirement of consumers in their 20s and 30s. By using financial education and its understanding as additional variables, this study also intends to examine the ultimate effects on the intention. The following is a summary of the main results and suggestions. First, the level of consumer financial education is lower than the average. The level of understanding finance is lower than the average, and particularly, the level of understanding retirement related finance is much lower. Second, the more the attitude of financial preparation for retirement is positive, and the higher the level of subjective norm or perceived behavioral control is, the level of the intention of financial preparation for retirement tends to be more higher. Therefore, relevant efforts to encourage this preparation are needed. Third, the level of the intention of financial preparation for retirement is higher than the average, whereas financial education has no effects on the intention. This means that despite the importance of the financial education, its current implementation has many problems. The suggestions of this study are as follows. First of all, this study can provide preliminary data for developing retirement planning programs. In addition, in terms of the policy, given that this study targets relatively young consumers in their 20s and 30s, it can provide preliminary data for making policies for their future retirements.

• Journal of the Korea Society of Computer and Information
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• v.18 no.6
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• pp.101-110
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• 2013

Applicable life cycle phase in midlife baby boomers. These, as well as support one parent without the loss of stable employment and income-based children's education and their retirement should be ready at the same time to double, triple economic burdened. Recently in the preparation of these non-retirement and retirement is a major concern. This study we want to look at the characteristics of the baby boomer generation, retirement life planning education status of the country and abroad, retirement life planning program to revitalize the aging of the baby boomer generation life design education. Retirement life planning for raising awareness and design education in the baby boomer life, specifically, how to realize how microscopic analysis to explore the policy and practical alternatives.

• East Asian Journal of Business Economics (EAJBE)
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• v.2 no.4
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• pp.26-47
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• 2014

The paper examined effect of age cohort on life cycle financial planning. A total of 990 questionnaires were distributed with a 55.2% return rate. Seven hypotheses were analysed using hierarchical and ordinary regression analysis. The results revealed that age cohort variables made significant contribution to life cycle financial planning as well as personal orientation towards retirement planning, particularly the younger age cohort. Age cohorts do affect personal orientation towards retirement planning with the confidence level making a significant impact. Current financial resources do have a strong positive impact on consumption for all age cohorts. On the other hand, no significant effect was found between age cohorts and current financial resources but older age cohorts were relatively more significant predictors. The implication was that not only should their individual perceptions of financial planning become an increasingly important part of people's long-term commitment throughout their life-cycle, it must also assume the role as a self-directed life-long learning process, in view of the ever-changing and complicated financial environment.

• Journal of the Architectural Institute of Korea Planning & Design
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• v.34 no.12
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• pp.65-76
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• 2018

Due to the rapid demographic and structural changes, Korea has faced a variety of social issues and quickly entered the aged society since the 2000s. In order deal with this reality, diverse types of welfare policies are emerging in the society as a whole. The government began to supply domestic public silver housing in 2016 to provide against the quickly growing aged society and now, the government is planning to supply approximately 50,000 housing by 2022 for quantitative growth of aged society, by selecting 1st and 2nd designated areas for the project additionally. This public retirement(silver) housing combines 'space' with 'service'. The lower floors are a public silver welfare Facilities and the upper floors are a housing spaces. This type of housing is to deal with requirements of rental housing residents by combining physical space with supporting service. Based on barrier-free design, the complex and unit house have safety handles and alarm bells in the bathroom, undulating washstands, bathroom sliding doors, corridor safety handles, and emergency safety exit lamps in each housing unit so the aged and the disabled can use easily and conveniently. Also, hand rails are installed and stepped pulleys are removed to promote convenience. Currently, the government is planning to increase the supply, focusing on low-income groups, such as beneficiaries of national basic livelihood and the working poor. Recognizing that the public retirement(silver) housing project is at its early stage, this study examined satisfaction, based on evaluations of real residents. This study aimed to obtain more empirical research data and apply them to public retirement(silver) house space analysis. For analysis, this study targeted Wirye public retirement(silver) housing and Magnolia public retirement(silver) housing that are in operation, and literature review, previous research review, and field survey were conducted to examine the present state. Using the questionnaires consisting of four large classification items; Block Layout, Housing Unit, Welfare Facilities, and Barrier-free Design, and sub-details, a survey was conducted to analyze residents' satisfaction. In conclusion, it is anticipated that this study would serve as basic research data about public retirement(silver) housing to increase continuously in future by analyzing public retirement(silver) housing spaces, on the basis of the analyzed data.

• Journal of Digital Convergence
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• v.12 no.11
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• pp.33-48
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• 2014

The purpose of this study was to investigate the relationships among the work satisfaction and quality of life with retirement preparation of middle-aged workers. Data from 283 subjects were collected and analyzed. The findings are as follows. First, people with higher quality of life tend to care more on health planning. Second, financial planning has nothing to do with quality of life, whereas self-respect has a positive effect on all the other indicators for retirement preparations except financial planning. Third, retirement preparations has not been affected by work satisfaction. The theoretical and practical implications of the findings were discussed and the directions for future research were suggested.

• Journal of Technologic Dentistry
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• v.37 no.4
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• pp.253-259
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• 2015

Purpose: The purpose of the study is to investigate the need for the retirement attitude of korean dental technicians. Retirement attitude is important in the study of retirement planning. Methods: A total of 778 dental technicians were selected by proportional stratified by region compared to extraction sampling from a list of korea dental technician association in 2012. The final sample size was 386. Questionnaires consisted of 10 questions general characteristics, 9 questions for the current life satisfaction and retirement preparation, and 4 questions about retirement attitudes on a Likert 5 scale. Cronbach's alpha was 0.812 in the study. All statistical analyzed were performed using SPSS 14.0(Statistical Packages for Social Science Ver. 14.0. Chicago, IL, USA). Results: An average of $3.01{\pm}0.8$ dental technicians were retirement attitude. To affect retirement attitude marital status, age, subjective health status, assets satisfaction, job type, job satisfaction and the economic outlook was living after retirement (p <0.05). Conclusion: This study suggested that retirement attitude of korean dental technicians was very important and the preparation must be connected with the social welfare policy.

• Journal of the Korean housing association
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• v.28 no.3
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• pp.75-83
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• 2017

The purpose of this study was to identify some residential characteristics of Post-retirement and characteristics of the Continuing Care Retirement Communities (CCRCs) favored by those baby-boomer generations soon retiring. A web-based online survey was conducted with middle-class baby-boomers living in the Seoul-Incheon-Gyengki capital area and the five metropolitan cities of Korea between 9th and 20th of February in 2017. A total 0f 507 responses were valid for statistical analysis. The findings obtained that they preferred living Urban outskirts after retirement; Desired area of post-retirement was differentiated depending on asset and educational attainment; 63.4% of respondents had no intentions to live with adult child; a combination of independent living and assisted living was the most preferred form of the CCRCs; Over 80% of respondents had intention to live in independent living, assisted living and nursing home; and Intention to live in assisted living and nursing home was differentiated depending on Intention to live with adult child. Among the four Community-linked types, the Hospital-based one was most popular. The University-based and Religion-based ones were then preferred by females than males. The results obtained here can be used for reflecting the residents needs when planning the CCRCs in Korea.

• 한국노년학
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• v.29 no.1
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• pp.215-230
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• 2009

In this study, we compared Korean retirees' retirement wealth adequacy with their subjective recognition and examined determinants affecting the retirement wealth adequacy. The data were drawn from the 2007 Korean Retiree Survey carried out by the Korean Investors Education Foundation. The major results of this study were as follows. The analysis suggested that Korean retirees(age 50 and over) were not well prepared financially. When using their assets(except for their residence), only 23.2% had accumulated enough wealth to meet their expenses for the remainder of their life. 25.7% of retirees subjectively considered themselves to be adequately covered. The comparison results showed that 23.8% of retirees' subjective recognition was not in accord with the estimation results. One of the most troubling groups is the 12.9% of retirees who were in the inadequacy group even though they considered themselves to be in the adequacy group. Retirement wealth adequacy determinants were quite different between objective adequacy and subjective recognition. Household income and ownership of a residence have positive effects on the retirement wealth adequacy. Also, the importance of retirement planning to retirement wealth adequacy is statistically confirmed. Based on these findings, This research suggests private retirement planning and political implications for retirees and preretired households.

• Journal of the Korean housing association
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• v.26 no.4
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• pp.119-127
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• 2015

Many researchers addressed a strong need for providing diverse senior housing options to accommodate different demands from the growing senior population in Korea. One option can be the university-based retirement community (UBRC) which is linked to the adjacent universities and offers various physical, educational, and recreational programs for residents. The primary purpose of this study was to identify major features of the UBRC in terms of development, management, level of college participation, and types of care services for senior residents and to suggest future implementation directions in Korea. Two cases from the United States were selected and investigated to accomplish this goal. Main features of the UBRC were identified as follows: The university linked to each subject community was strongly involved in the development process. Their original residents were mainly recruited from university retirees. The strong university involvement became diminished as the retirement communities got settled down. This study analyzed these architectural, managerial, and development features and suggested future implication directions of university-based retirement communities in Korea.