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| HOPE Report: March 2003 |
1,600 Japanese in their 50s & 60s talk about money
Two in three elder Japanese are not short of money
40% dissatisfied with current savings and investment regimes
Proactive toward new financial services |
Hakuhodo constantly monitors the sentiments of what we refer to as sei-katsu-sha — individuals who we see as greater than the sum of their consumption. The following is a summary of a sei-katsu-sha survey conducted by Hakuhodo in late November 2002 titled "1,600 Japanese in their 50s & 60s talk about money."
The report presents analysis of data gathered from "elder" respondents in a postal survey of 5,000 Tokyo/Kanto and Kansai residents aged 12–69 conducted in November 2002. The results show that in the current economic climate in Japan, "elders" (in this survey defined as those in their 50s and 60s) have more financial freedom than younger members of society, and also greater interest in their finances, including experience, knowledge and interest in financial products.
Two in three elders (65.5%) reported not having trouble coming up with money for their everyday needs. When limited to those in their 60s, more than 70% (70.8%) were living without financial worries.
Elders' experience with, and knowledge of, major financial products also tops that of their juniors, with 74.7% having used fixed-amount postal savings; 30.0% stocks; and 20.7% mid-term government bond funds. While elders' use of banking services at convenience stores and supermarkets was lower than that of the younger generations, use was up on the previous year, indicative of elders' overall proactive stance toward financial products.
Yet nearly 40% of elders were dissatisfied with their savings and investment schemes, and a similar number wanted financial institutions to offer more information and advice. While awareness of interest rates, pensions and insurance was high, we discovered many elders saw plenty of room for improvement in their own particular investments.
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Survey outline
| Survey period: |
Late November, 2002 |
| Area: |
Area within 40 km radius of Tokyo and the Osaka/Kyoto/Kobe (Kansai) area |
| Respondents: |
5,000 males and females aged 12–69 (distributed in proportion to population total) |
| Valid responses: |
Respondents from the above sample aged 50–59: 876, and 60–69: 743
N = 1,619 |
| Method: |
Postal survey |
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