Financial literacy key to retirement planning in Malaysia

Type Journal Article - Journal of Management and Sustainability
Title Financial literacy key to retirement planning in Malaysia
Author(s)
Volume 2
Issue 1
Publication (Day/Month/Year) 2012
Page numbers 75-86
URL http://www.ccsenet.org/journal/index.php/jms/article/download/15423/10535
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.

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