A Study on the Impact of Housing Characteristics on Retirement Preparation: Focusing on Seoul Citizen’s Economical Preparation for Retirement

Abstract

The objectives of this study is to analyze the effects of Seoul citizens’ housing characteristics on their preparation for old age and the expected monthly living expenses after retirement. For this purpose, binary and multinomial logistic regression analysis was conducted using Seoul Survey data. The analysis results are as follows. First, it was found that the housing type, occupancy type, and residence period in which the respondent currently resides have an effect on whether or not to retire. Second, the respondents who live in their own apartments, regardless of the period of residence, expect the highest monthly living expenses after retirement. Accordingly it was confirmed that the current housing characteristics of Seoul citizens have an effect on the preparation for old age and the expected cost of living after retirement.