Charlton B. MOANANU
National Institute of Technology, Ishikawa College
About
I have lived in Toyama for nearly 30 years. Working within the National Institute of Technology system has been rewarding both in terms of personal-growth and development and overall health. My hobbies include cooking, travelling and working out. In my free time, I enjoy walking in nature and visiting local shrines and temples.Sessions
Standard Presentation (25-minute) Queuing for Retirement: Preparing for a 20-million-yen post-retirement. more
Sun, Sep 17, 14:50-Mon, Sep 11, 15:15 Asia/Tokyo
As the global population ages and retirement becomes a reality for many people, the need for effective financial planning cannot be overstated. In 2019, a report prepared by the Japanese Financial Service Agency (FSA) stated that an average couple will need 20 million yen to supplement their pensions to fund a 30-year post-retirement life (Nohara & Takahashi, 2019). Japanese were shocked by this figure because many simply did not have such funds or could not imagine accumulating such a substantial sum by retirement. Tertiary educators should also consider this reality if they plan to live in Japan beyond retirement. Although the FSA’s calculation was lambasted by the public, the 20-millionyen figure has become the benchmark in preparing for retirement.