Factors on subjective well-being among retiring baby boomers of korea: The mediating role of perceptions on preparation for retirement

Abstract

This study investigates the factors that determine the perceptions of subjective well-being among the Korean baby boomer generation. Baby-boomers bora between 1955 and 1963 and currently employed full-Time (N=558) were selected to analyze the relationship between the sample's perceptions of well-being and their preparedness for retirement. The association between such perceptions and other independent variables such as health status, marriage satisfaction, and social activities was also examined. Three major findings were drawn. First, baby boomers who had prepared well for their retirement are more likely to show high levels of subjective well-being. Second, contrary to our prediction, health status, marital satisfaction, and socio-demographic variables (gender, age, and education) exhibit weak or indirect associations with well-being. Third, sense of preparedness plays a mediating role in explaining the relationships between the independent and dependent variables. These results indicate the need for policy-makers and social workers to pay attention to preventive strategies that ensure the well-being of middle-Aged and elderly populations given that preparing for post- retirement life is critical to successful aging among baby boomers. Social activities and marital relationships should also be well-maintained or continuously developed among retiring and aging individuals. Other policy implications and recommendations for further study are also discussed . ©2016 International Information Institute.