The Influence of Financial Resources on Later Live

Abstract

Today there is a growing trend of aging population in the whole world, which occurs due to the reduction of fertility in developed countries and to increase life expectancy. By 2050 more than a quarter of the world population will be aging people. Therefore, this research is devoted to discussion of topical issues relating to such an important challenge as the influence of financial resources on our later live. There are a lot of different indicators that show economic wellbeing of old adults. But the studies often do not allow comparing the Russian data and results with data and results from other countries because of the great differences in methodology. It was found, that physical, psychological, and material wellbeing in old age depend more on how we use our financial resources in the prime of our life.

Social and Economic Activity of the Elder Generation in Tomsk Region

“…Predictors of level and content of socio-economic activity of the older generation are related to the influence of the two main groups of factors: the objective conditions of life of older people, for which they are often unable to exert any significant influence (Taran, Anikina, & Ivankina, 2016) and subjective preferences, which affect the behavior of older people in the community (Frolova, & Malanina, 2016). Economic activity is typically finds its realization in the following aspects of the older generations' life: employment, consumption, savings (Kolev, & Pascal, 2002), production in subsistence farming (Tchernina, & Tchernin, 2002).…”

Motivations and needs of older people for work and active lifestyle

“…(deposits in the bank), property rent, and additional pension from private pension funds (Taran et al, 2016). …”