The foundation Care and Future announced the results of a survey of 1,500 men and women aged 50 to 64 nationwide who were born between 1960 and 1974, conducted in May.
Seventy-six percent of those in their 70s said they were providing financial support to their children, while 42 percent said they were financially supporting their own or their spouse's parents.
They were spending an average of 1.07 million won per month to support their children and 620,000 won per month to support their parents, while 25% of respondents were supporting both their children and parents, spending an average of 1.55 million won per month.
Eight out of 10 people in their 70s are currently working because they are anxious about their retirement, but 56% of the respondents said they feel anxious about how long they can work.
Anxiety about the income gap before receiving the pension was also greater than 81% of respondents in the 60s, with 91% of those in the 70s.
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