Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies

The study aims to profile older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies. The study utilized secondary data from an IRPA Project titled “Economic and Financial Aspects of Ageing in Malaysia (2005)”, one of the research project under the Quality of L...

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Main Author:	Chan, Benjamin Yin Fah
Format:	Thesis
Language:	English
Published:	2012
Subjects:	Aging - Economic aspects - Malaysia Income - Economic aspects - Malaysia
Online Access:	http://psasir.upm.edu.my/id/eprint/32236/1/IG%202012%201R.pdf
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id	my-upm-ir.32236
record_format	uketd_dc
spelling	my-upm-ir.322362015-01-15T02:00:39Z Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies 2012-04 Chan, Benjamin Yin Fah The study aims to profile older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies. The study utilized secondary data from an IRPA Project titled “Economic and Financial Aspects of Ageing in Malaysia (2005)”, one of the research project under the Quality of Life of Older Malaysians research program. A total of 2,327 older persons in Malaysia were interviewed in this cross-sectional study. The study found that 77 per cent of the respondents had positive net flow (mean monthly income of RM 574 and mean expenses of RM 213). Eighty-two percent of them has a positive net worth (mean assets = RM 90,993; mean liabilities =RM 15,302). For perceived income adequacy, 63 percent of them perceived their income as adequate while the remaining 37 per cent perceived their income was not adequate for daily expenses. The economic wellbeing of older Malaysians in this study was determined by combining both objective measures (net flow, net worth) and subjective measures (perceived income adequacy). Three levels of economic wellbeing were identified namely, (1) economically advantaged, (2) at risk and, (3) economically disadvantaged. In this study, 26 per cent of them were grouped into economically disadvantaged group, 49 per cent in at risk group and 25 per cent in economically advantaged group. Multinomial Logistics Analysis revealed that male was 1.25 times more likely than female to be in the advantaged group over the at risk group. Those who were working, financial prepared, good self-rated health were 1.3 times more likely to be in the advantaged group over the at risk group. Since the economically disadvantaged group has been taken care by many poverty eradication programs in Malaysia, efforts should be focused on the at risk group, with is in lines with the Malaysia Economic Transformation Programme (ETC) to uplift the quality of life of lower income households. In order to increase the level economic wellbeing, financial education programs should be introduced to both older and younger persons to enable them to make effective financial decisions for present and future needs. Aging - Economic aspects - Malaysia Income - Economic aspects - Malaysia Aging - Malaysia - Finance, Personal 2012-04 Thesis http://psasir.upm.edu.my/id/eprint/32236/ http://psasir.upm.edu.my/id/eprint/32236/1/IG%202012%201R.pdf application/pdf en public phd doctoral Universiti Putra Malaysia Aging - Economic aspects - Malaysia Income - Economic aspects - Malaysia Aging - Malaysia - Finance, Personal Institute of Gerontology
institution	Universiti Putra Malaysia
collection	PSAS Institutional Repository
language	English
topic	Aging - Economic aspects - Malaysia Income - Economic aspects - Malaysia Aging - Economic aspects - Malaysia
spellingShingle	Aging - Economic aspects - Malaysia Income - Economic aspects - Malaysia Aging - Economic aspects - Malaysia Chan, Benjamin Yin Fah Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
description	The study aims to profile older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies. The study utilized secondary data from an IRPA Project titled “Economic and Financial Aspects of Ageing in Malaysia (2005)”, one of the research project under the Quality of Life of Older Malaysians research program. A total of 2,327 older persons in Malaysia were interviewed in this cross-sectional study. The study found that 77 per cent of the respondents had positive net flow (mean monthly income of RM 574 and mean expenses of RM 213). Eighty-two percent of them has a positive net worth (mean assets = RM 90,993; mean liabilities =RM 15,302). For perceived income adequacy, 63 percent of them perceived their income as adequate while the remaining 37 per cent perceived their income was not adequate for daily expenses. The economic wellbeing of older Malaysians in this study was determined by combining both objective measures (net flow, net worth) and subjective measures (perceived income adequacy). Three levels of economic wellbeing were identified namely, (1) economically advantaged, (2) at risk and, (3) economically disadvantaged. In this study, 26 per cent of them were grouped into economically disadvantaged group, 49 per cent in at risk group and 25 per cent in economically advantaged group. Multinomial Logistics Analysis revealed that male was 1.25 times more likely than female to be in the advantaged group over the at risk group. Those who were working, financial prepared, good self-rated health were 1.3 times more likely to be in the advantaged group over the at risk group. Since the economically disadvantaged group has been taken care by many poverty eradication programs in Malaysia, efforts should be focused on the at risk group, with is in lines with the Malaysia Economic Transformation Programme (ETC) to uplift the quality of life of lower income households. In order to increase the level economic wellbeing, financial education programs should be introduced to both older and younger persons to enable them to make effective financial decisions for present and future needs.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Chan, Benjamin Yin Fah
author_facet	Chan, Benjamin Yin Fah
author_sort	Chan, Benjamin Yin Fah
title	Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
title_short	Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
title_full	Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
title_fullStr	Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
title_full_unstemmed	Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
title_sort	profiling older malaysians using three-tier economic wellbeing measure based on netflow-networth typologies
granting_institution	Universiti Putra Malaysia
granting_department	Institute of Gerontology
publishDate	2012
url	http://psasir.upm.edu.my/id/eprint/32236/1/IG%202012%201R.pdf
_version_	1747811653058035712

Profiling older Malaysians using three-tier economic wellbeing measure based on netflow-networth typologies

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