More young Koreans look to stocks, bonds as retirement nest egg
A Seoul office worker surnamed Park has been setting aside 1 million won ($744) from her monthly paycheck for retirement since early this year, after friends and colleagues encouraged her to start investing. She puts the money into two types of retirement accounts — a pension savings account and an Individual Retirement Pension (IRP) — with most of her savings invested in exchange-traded funds…
More young Koreans are turning to stocks and bonds as a retirement investment, according to recent reports. One such individual is a Seoul office worker named Park. She has been setting aside 1 million won from her monthly salary for retirement since early this year. Park allocates her savings between a pension savings account and an Individual Retirement Pension (IRP), with most of her funds invested in exchange-traded funds (ETFs) that track the S&P 500.
Park makes her ETF purchases automatically each month, rather than attempting to predict market trends based on currency or stock price fluctuations. She explained that she started investing after friends and colleagues encouraged her to do so. She was concerned that she was not doing enough to build up her assets and was worried about the national pension fund potentially running out sooner than expected due to Korea's falling birthrate and aging population.
Park views her investments as a way to build her own pension over time, stating that she wants to ensure financial security in her later years.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- More young Koreans look to stocks, bonds as retirement nest egg koreatimes.co.kr
