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KMID : 1023720140630010309
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Journal of Welfare for the Aged
2014 Volume.63 No. 1 p.309 ~ p.335
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Financial Preparations for Aging of BabyBoomers and Pre-BabyBoomers in Korea
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Park Chang-Je
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Abstract
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The purpose of this study is to compare factors affecting financial preparation for aging of the babyboomers and those of the pre-babyboomers in Korea. The results can be summarized as follows. First, the percent of babyboomers having public pensions is higher than the percent of pre-babyboomers having public pensions. Second, the percent of babyboomers having private pensions is higher than the percent of pre-babyboomers having private pensions. Third, among predisposing factors, sex has significant positive effects on public financial preparations for aging of babyboomers and those of pre-babyboomers together but age and education level have significant positive effects on only those of babyboomers. Fourth, among enabling factors, labor forces participation and having private pension have significant positive effects on public financial preparations for aging of babyboomers and those of pre-babyboomers together. Fifth, among need factors, residental location has significant positive effects on private financial preparations for aging of babyboomers and those of pre-babyboomers together Sixth, among enabling factors, household income and having public pension have significant positive effects on private financial preparations for aging of babyboomers and those of pre-babyboomers together.
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KEYWORD
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babyboomer, pre-babyboomer, financial preparation for aging
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