The Happiness Research Center published the Life Financial Report, “How to Live in the 40s of Korea, Four Life Tasks”.
The report is a “non-financial piece” following the “Money (Money) side” that recently suggested signs of expanding financial investment in their 40s and the type of investor.
The most important task is to prepare retirement assets, and there is a sense of crisis that the time to quit is coming, but the most important thing is that financial assets are lacking right away. However, unlike the importance given by oneself, the interim check score is only 45 out of 100.
Sixty-five percent of people in their 40s save an average of 610,000 won a month to raise their retirement assets. 59 percent of those in their 40s think they will increase their savings in the future. Forty people are more interested in rolling money, such as pensions, investments, savings, and making additional income. The higher the income, the larger the savings, and the more they use various financial products such as retirement pensions and pension savings. When asked why it is difficult to prepare retirement assets, the higher the income, the more ‘housing’ and ‘children’s education expenditure’, and the lower the income, the more ‘income blank period’ and ‘family diseases and accidents’ increase.
The reason why it is important to secure housing stability is that the more delayed the burden of my house is increased. The average score of achievement is 59, which is 15 points higher than retirement asset. One in four (25%) or gave themselves more than 80 points (excellent).
56% own a home, with 18% rent, 13% monthly rent and the rest (13%) living in their parents’ homes. The average balance of housing-related loans is 110 million won for the housing owners, 80 million won for the lease, and 24 million won for the monthly rent. 60% of those who have the loan balance say that the loan repayment is burdensome.
92% of homeless people want to buy a home, 45% of homeowners want to move to a better home, and most of them, homeless people, or people in their 40s, still want to find their own home
The score for children’s education was 63, the highest among the four major life tasks; 27 percent gave them more than 80 points and only 6 percent said they were under 30 points. The reason why I think that child education is the top priority is because I want my child to live a normal life without falling behind.
88% of parents in their 40s spend an average of 1.07 million won a month on a private institute, which is around 20% of household income. 61% said the cost of education is ‘economically burdensome’, and ‘the biggest thing is not enough savings’. The next thing is that the cost of education is not enough, but the lower the income, the more it tends to be. I think that I support my child as much as possible to find the life I want rather than to set a career path for him, worry that education will depend on economic power, and consider double-income or investment for education
Self-development is a 폰테크 subordinate to the 40s. When self-development is a priority, the reason is that the current job is unstable and the most important is to improve income stability. Physical training, investment technology, and improvement of skills. The average cost of self-development is about 220,000 won per month.
48% of them are planning to start a business, but only 7% are planned specifically. 58% of the founders think that they are less than 100 million won.
The center says it needs to diagnose itself whether it is overly biased in one of the four major life tasks or on the contrary. In their 40s, it seems important to set up retirement assets, but it was difficult to practice as they thought because they were pushed by other tasks. Conversely, it is highly likely that it was the most important task to feel that retirement assets are insufficient.
Lee Won-joo, head of the pension trust group at Hana Bank, said, “The 40s have enough capacity to prepare retirement assets as long as the economic activity period remains.” It is a way to support retirement assets by providing competitive long-term asset management means such as retirement pension and ISA. “He said.