In expectation of the Silver Years

Optimism on aging and the future was reflected in a Dong-A Ilbo poll commemorating its 86th anniversary conducted among 1,832 people in their thirties to fifties.

On the question, ‘How do you see yourself in your old age’, 45.2 percent answered ‘similar to the present’, while 31.7 percent responded ‘better than the present’. Only 16.0 percent gave a negative answer of ‘worse than the present.’

Many people also responded that they would set a firm line to their children when preparing for their old age.

On the question, ‘if funding your children’s education will affect your preparation for the future, how much are you willing to spend for them,” more than half of the respondents, 52.2 percent, responded that ‘no financial aid will be provided after college.’ Respondents for ‘as much as possible’ were merely 26.5 percent.

On the ‘happiness index for old age’, the first of its kind in Korea conducted by the Dong-A Ilbo and the Korea Institute for Health and Social Affairs to measure the perceived happiness rate in a person’s old age, which involved 33,000 people in their thirties to fifties, the rate was 62.2 points out of 100. The breakdown consisted of 70.5 points for those in their thirties, 59.8 points for respondents in their forties, and 56.3 for respondents in the fifties.

The index was based on the ‘Social Statistics Report’ for 2003 to 2005 by the National Statistical office, and involves three areas of health, finance, and family and social relations, which numerically analyzes the factors on preparing for the future, and serves as an important standard for developed countries.

Kim Seung-kwon, head of the Headquarters for Policy Research on Low Fertility and Population Aging of the Korea Institute for Health and Social Affairs, stated that “as the numbers inch closer to 100, the index would indicate that the population is preparing for its future and that they are secure in each area,” and explained that “the results surpassed expectations in that people are more aware of the need to prepare for their future.”

But the Korean society is also replete with the poor who cannot prepare for their future due to more pressing financial concerns.

Professor Kim Mi-hye of the Department of Social Welfare at Ewha University stated that “It is an optimistic sign that more people of the younger generation are preparing for their future in finance, hobbies, health, side job, and volunteer work,” but added that “the government or our society should make more of an effort to help those that are trapped in the web of poverty.”

Kwang-Hyun Kim kkh@donga.com