Abstract ▼ AI-Helper

The main objective of this study was to investigate how people prepare for old age by looking at financial statements from single-person households in Gyeonggi province; the policy implications regarding low fertility and population aging are considered. The subjects were members of 600 households w...

The main objective of this study was to investigate how people prepare for old age by looking at financial statements from single-person households in Gyeonggi province; the policy implications regarding low fertility and population aging are considered. The subjects were members of 600 households who were aged 26 to 44 years old and not married. The data were analyzed by t-test, ANOVA, and dichotomous logistic regression using SPSS WIN 12.0. Respondents pointed out that financial problems are the greatest challenges for those facing old age in single-person households; they said that a stable job is the most important factor for secure living. About 57% of household residents responded that they have prepared for retirement, and a majority of them said they hoped to spend their elderly years with a marriage partner. The financial statements from single-person households were inferior to those from other types of households. The assets of single-person household members were less than those of other households. Only 10.5% of respondents have owned homes. The study discusses policy implications for those who want marriage and for those who don't want it. For those who want marriage, job-seeking support was proposed, and for the others, tax deductions and family programs for single-person households were proposed.

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