| Summary: | 碩士 === 國立中央大學 === 財務金融學系在職專班 === 107 === Due to extend the expectation of life, Taiwan gradually turn into an aging society. Plus inflation, stagnant wages, the government's maintenance of low interest rates and annuity reforms, etc, all are making people panicked and worried about their retirement. So the government launched a house for pension program to solve the social problems. This research mainly investigates how people can employ reverse mortgage and mortgage-turning-into investments in capital markets to support their retirement.
This research uses PEST analysis which include four different levels: political factor, economic factor, social factor and technological factor to explore the impact and development in Taiwan by implementing the house for pension program. I explore qualitative research by using four cases, an elderly living alone, professor, a housewife, and a landlord. According to background analysis of different customers cases to understand the purpose of the demand, and construct the plan through back evaluation. The professor, household, and landlord adopt "financial products with mortgages" to achieve "asset activation" to meet the ultimate goal of the "household pension". Second the elderly living alone use the "reverse mortgage" to meet the basic needs of life. And lastly I conduct customers’ interview and get feedback as summer to discuss the true feedback of each customer. Through these cases plan the conclusion and recommendations.
The conclusions of this study are respectively analyzed for the compatibility of "financial products matching mortgage" and "reverse mortgage". Based on past performance analysis and interest record, if the amount of interest per month is deducted from the interest of mortgage, it'll have extra funds available for use. But it also need to consider the structure of the wealth management product design and risks. For the "reverse mortgage loan" case, although there will be a living allowance for each month, here will still be problems such as zero value after the deferred life even with the development of technology and medical equipment. Therefore, it is necessary to ensure the undertaker understanding the structure to avoid the future disputes. This study proposes follow-up research directions, it's advisable to focus on "financial products matching mortgage" to increase risk tolerance and expected rewards as a new research topic. And how to improve the structure of "reverse mortgages", such as because the contractor has a long life span then it'll need another alternatives, etc.
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