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인지연령이 재무적 은퇴준비에 미치는 영향

The Effect of Cognitive Age on Financial Preparation for Retirement

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주제분류경제학

초록

개인의 은퇴준비에서 재무적 준비는 매우 중요한 요인이다. 본 연구는 인지연령과 재무적 은퇴준비의 관계를 살펴보았다. 구체적으로 인지연령이 재무적 은퇴준비에 미치는 영향, 둘 사이의 관계에서 재무위험수용성향의 매개효과, 그리고 주관적 재무지식의 조절효과를 가설로 설정하였다. 가설 검증을 위해 20대에서 60대사이의 일반인 591명을 대상으로 설문조사를 실시하였다. 분석결과, 인지연령이 높을수록 은퇴준비를 더 많이 하는 긍정적 영향을 확인하였으며(가설 1지지), 인지연령과 은퇴준비 관계에서 재무위험수용성향의 매개효과는 유의하지 않았다(가설 2기각). 주관적 재무지식은 인지연령과 은퇴준비의 관계를 조절하였다. 은퇴준비에 미치는 인지연령의 영향은 주관적 재무지식이 낮은 사람에게만 유의하고, 주관적 재무지식이 높은 사람들에겐 유의하지 않았다(가설 3지지), 그리고 가설 2에서 제시한 인지연령과 은퇴준비 사이에서 재무위험수용성향의 매개효과는 주관적 재무지식이 낮은 경우만 나타나고, 주관적 재무지식이 높은 경우는 나타나지 않았다(가설 4지지). 이상의 결과에 근거한 학문적 공헌점과 실무적 시사점을 제시하였다.

Abstract

One of the most important factors that affects retirement preparation is the financial preparation. This study examines the relationship between cognitive age and financial preparation for retirement. We hypothesize the positive impact of cognitive age on financial preparation for retirement(H1), the mediating effect of financial risk tolerance (H2), the moderating effect of subjective financial knowledge(H3, H4). To test hypotheses, we conducted a survey with 591 individuals from 20s to 60s. Results showed that cognitive age positively affected financial preparation for retirement (H1;S). Financial risk tolerance didn’t play a mediating role in the relationship between cognitive age and financial preparation for retirement positively(H2;NS). For individuals with low subjective financial knowledge, cognitive age worked, but for individuals with high subjective financial knowledge, it didn’t(H3;S). Only for individuals with low subjective financial knowledge, financial risk tolerance mediated the relationship between cognitive age and financial preparation for retirement(H4;S). Finally, academic contribution and practical implication are described.

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