A PRELIMINARY ANALYSIS OF RETIREMENT PLANNING BEHAVIOUR: EVIDENCE FROM EAST-COAST MALAYSIA
DOI:
https://doi.org/10.46754/umtjur.v4i3.339Keywords:
Retirement planning behaviour, savings behaviour, financial literacy, health effect on retirement, financial risk toleranceAbstract
This paper investigates factors influencing retirement planning behaviours among Malaysians. A non-probability judgmental sampling technique was utilised to obtain primary data for this study’s preliminary findings. A questionnaire was adopted by previous research and disseminated via email, WhatsApp and Telegram. Thus, 344 working individuals from the public and private sectors participated in this study. Results indicated that financial literacy, risk tolerance and healthcare concerns positively affect retirement planning behaviour. Employees who have a better understanding of the factors that influence their retirement planning behaviour should be able to start planning for retirement earlier. This study may be helpful to the employees, government, policymakers, financial advisors and financial institutions to improve their understanding and policies to the greatest extent possible.
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