Koreans in Late Middle Age Prefer Stable Assets to Quick Profits

  • By You So-yeon

    June 03, 2022 08:56

    Investors in late middle age prefer stable assets to quick profits on their assets, a Hana Financial Group survey shows.

    The bank conducted a survey of 1,000 customers between 50 and 64 with financial assets of W100 million or more (US$1=W1,249).

    When it comes to investment of their retirement savings, they chose financial instruments that guarantee principal (55.7 percent) and regular profit (55.3 percent), rather than high profitability (40 percent). Many of them expect to earn returns of five to six percent.

    Most of them have little difficulty using online banking and other services. About 90 percent said it was convenient to use banking apps to check their accounts, transfer money and pay for online shopping.

    The average financial assets of householders aged 50 and 59 are W146 million, meaning they are on the whole better off than other age groups.

    They believe they will retire from their salaried jobs at 63 but keep working until the age of 68 in other small jobs. The age group is more interested in their health and wellbeing than in their children or investments.

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