1. Hubungan Pengetahuan dan Tingkah Laku Kewangan dengan Perancangan Kewangan Persaraan dalam Kalangan Generasi Milenial.
- Author
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ZAIMAH, R., YUSOF, NURULHUDA MUHAMAD, SARMILA, M. S., and AWANG, ABD HAIR
- Subjects
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RETIREMENT planning , *PENSIONS , *PEARSON correlation (Statistics) , *ESTATE planning , *FINANCIAL planning , *STATISTICAL sampling - Abstract
Retirement is a phase of life that every employee will go through when they reach retirement age. Previous studies have shown that financial planning for retirement among the millennial generation in Malaysia is still lacking compared to other countries. Therefore, this study will examine the relationship between financial knowledge and financial behaviour with regard to retirement financial planning among the millennial generation. The research on retirement financial planning involves the components of cash management, savings management, credit management, insurance management, investment management, and estate planning. The survey method using systematic random sampling is applied in this study. The millennial generation is represented in the study by civil servants from the Public Service Department in Putrajaya. A questionnaire was used as a data collection instrument. As a result, a total of 270 respondents were involved in this study. To explain the relationship between financial knowledge and financial behaviour in retirement planning, Pearson Correlation Analysis was used. The results of the study show that only financial behaviour shows a moderately positive and significant relationship with retirement financial planning. Therefore, the implications of the study suggest that behavior should be given attention in ensuring that the millennial generation has the best retirement planning. Attention should be focused more on aspects of credit management and investment planning. This is necessary in order for the millennial generation to make the best financial preparations for their future well-being, particularly when approaching retirement. [ABSTRACT FROM AUTHOR]
- Published
- 2023
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