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KMID : 1023720130610010383
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Journal of Welfare for the Aged
2013 Volume.61 No. 1 p.383 ~ p.403
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The determinants on Existence of Independent Financial Resource by Aging Recognition Types of the Old Aged in Their 60s
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Song Hyun-Ju
Kim Gyun-Hee
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Abstract
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The purpose of study was to analyze the determinants on existence of independent financial resource by four aging recognition types of the 2,460 old aged in their 60s. This study is based on 4th data of Korean Retirement & Income Study and analyzed through Binary Logit Model. The following results were obtained：First, 53.2% of the old aged in their sixties had no independent financial resource. According to aging recognition type, regardless of their being objectively old, members of a group that recognized themselves to be not old were likely to believe that they have independent financial resources. Second, the influential factors on the existence of an independent financial resource of the old aged in their sixties was gender, existence of a job, health condition, residential area, household type, being a beneficiary of public pensions, existence of private transfer income, assets, and annual income. Meanwhile, according to age recognition type, sex, existence of a job, and health condition had a common effect on the existence of an independent financial resource. The effect of the other remaining factors on the existence of an independent financial resource was found to differ according to the age recognition type.
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KEYWORD
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Aging Recognition, Independent Financial Resource
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