About one out of four employees aged 45 or older spend all of their monthly earnings, a recent survey conducted by yes123 job bank showed, contradicting the stereotype that only young people have difficulties making ends meet.
According to the survey, 26 percent of employees polled aged 45 or older spent almost of all of their wages and even found their wages were not enough to support themselves.
The remaining 74 percent of respondents said that they were able to save money, and the average monthly savings was NT$10,549 (US$323), the survey showed.
The respondents said a pay increase of NT$12,000 a month would make their life easier or be sufficient to meet unexpected expenses, the job bank said.
The job bank said that employees in the 45 or older age group and those who have already retired had a goal of NT$24.94 million in savings on average for a comfortable retirement.
However, the job bank said that only 12 percent have reached their savings goals.
In the same survey, the ideal retirement age of respondents was 61.5, and among those who had retired, 11.8 percent returned to the workforce after retirement.
The survey showed that 58.8 percent of those who returned to the workforce after retirement said that they needed to increase their retirement savings, and 54.2 percent said that they had to work to financially support their families.
The survey showed that 49.7 percent of respondents said that they became bored with retirement so they returned to the workforce.
The survey showed that about 63 percent of those who returned to the workforce after retirement said that their salaries were lower than what they earned before retirement.
The survey added that 57.2 percent said they encountered age discrimination when they were preparing to return to the workforce, while 71.2 percent said that employers expressed concerns about their age.
The survey, conducted from Sept. 22 to Oct. 5, collected 1,000 valid questionnaires and had a confidence level of 95 percent and a margin of error of 3.1 percentage points.
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