The Influence of Family Structure on the Elderly’s Financial Willingness
and Strategy for Retirement: An Empirical Analysis Based on CHARLS Data
Abstract
Addressing the challenge of an aging population, retirement financial
strategies are crucial, affecting not only the quality of life but also
the economic security of middle-aged and elderly individuals. This study
utilizes data from the 2020 China Health and Retirement Longitudinal
Study (CHARLS) to explore the impact of children’s structure on the
retirement financial intentions of the middle-aged and elderly. It
reveals that the number and quality of children, including their
education level and economic status, significantly influence the
acceptance and preferences for retirement financial instruments among
the middle-aged and elderly. Therefore, it is imperative for researchers
to consider the retirement financial intentions of this demographic and
develop more personalized and flexible retirement financial policies.
Additionally, enhancing retirement financial education can improve the
elderly’s understanding of financial products, ensuring their economic
security and achieving a comfortable and secure old age.