Japan Pensioner Spending: Updated May 29, 2024.

 

Japan pensioners spending more despite taking biggest hit from inflation: survey

Article Source:  https://mainichi.jp/english/articles/20240209/p2a/00m/0bu/016000c

Ideas:

Traditionally maybe so-called pensioners are given a mad rap by the idea that they don't want or need to spend that much. 

Most likely so-called pensioners are the most stable and secure in Japan society, as the younger generations might have family challenges, lack of good job challenges, and overall life challenges.

And lets not forget about the idea of a happiness index. as if we looked at the happiness of older generations compared to younger generations, most likely the older generations might feel the most happy.

Even if the older generations felt inflation the most, they obviously didn't let it affect their overall spending habit. But this might have been what they bought and maybe they didn't chase after the latest fashions or whatever in Japanese society and just stuck to their everyday basic buying needs.

It must be remembered that not all younger workers have good large company paying jobs and some or maybe even many are working contract or even part-time jobs, and as such they might be challenged to spend like the older generations.

Its also possible, that the so-called pensioner take-home income might still be higher than many of the younger generations take home working income, and as such might continue to spend and feel good about it.

Again, the younger generations might not be all large company employees with good salaries and good benefits and some might be contract and even part-time workers which means maybe automatically they might restrain their spending.

While the older generations might feel they have lived a long life and now deserve to spend some even though they are affected the most by inflation.

And again, the older generations might actually feel less sensitive to inflation and just tend to buy what they need and want.

Those in the younger generations, not including pensioners, might be reluctant to spend as they are worried about many life challenges just as housing, education, future retirement and so on, which might limit or challenge their spending, while those who have reached the pensioner stage might fell more secure and or don't care as much and they want to just life as much as possible.

But we can't say all pensioners spend a lot as there might be some or many living on the edge of little income and they tend to spend as little as possible.

Its also quite possible, that some or many of the pensioners had good or high incomes when Japan companies gave good or higher salaries compared to today, or before this year or last year, when since the early 2000's many companies didn't give wage increases.

This is already a major challenge in South Korea, where the rich send their children to the most popular and expensive after-school programs and the less-rich either don't or choose less expensive after-school programs.

Not to get too negative but for the most part South Korea is a status-conscious society, where everyone wants to go the best universities and everyone wants to work for Samsung or one of the name-brand large companies.

But at the same time, the May happiness index came out and Japan and South Korea are both at the bottom of the happiness index lists, at that says a lot.

Have a nice day and be safe!