Financial Literacy Key to Retirement Planning in Malaysia

Folk Jee Yoong, Beh Loo See, Diana-Lea Baronovich

Abstract


This paper examined the influence of financial learning on retirees’ retirement financial planning preparation. 750 questionnaires were distributed with a 53.9% return rate. Three hypotheses were analysed using hierarchical regression analysis. The results revealed that some mediating effect existed between financial learning and behavioural assessment of personal finance, and that the older age groups had mediating effect on the relationship between financial learning and subjective perception of satisfaction with personal finance. Within this context, respondents were satisfied with their financial situation from the behavioural assessment of personal finances, subjective perception and perceived financial well-being perspective. The study also indicated that some mediating effect existed between financial learning and behavioural assessment of personal finance, and that the older age groups (above 50 years) had mediating effect on the relationship between financial learning and subjective perception of satisfaction with personal finance.

Full Text: PDF DOI: 10.5539/jms.v2n1p75

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Journal of Management and Sustainability   ISSN 1925-4725 (Print)   ISSN 1925-4733 (Online)

 

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