Retirement Planning: Young Professionals in Private Sector

The purpose of this study is to determine the factors influencing retirement planning among young professionals in private sector. There are three factors identified in this research which includes financial literacy, job satisfaction and savings behavior. Data used for this study are primary and se...

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Veröffentlicht in:SHS Web of Conferences 2017, Vol.36, p.24
Hauptverfasser: Ahmad Zazili, Ainol Sarin, Bin Ghazali, Mohammad Firdaus, Binti Abu Bakar, Norlinda Tendot, Binti Ayob, Mastura, Binti Abd Samad, Irwani Hazlina
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Sprache:eng
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Zusammenfassung:The purpose of this study is to determine the factors influencing retirement planning among young professionals in private sector. There are three factors identified in this research which includes financial literacy, job satisfaction and savings behavior. Data used for this study are primary and secondary data such as from journal articles, periodicals and textbooks. A questionnaire is distributed and administered to extract data from the respondents consist of executives, non-executives and managers around Klang Valley, aged between 20 - 34 years old. The data is analyzed using frequency analysis, reliability test and Pearson correlation in order to obtain a clear findings and results. The findings show that financial literacy, job satisfaction and savings behavior has a positive association towards retirement planning. Furthermore, it is shown that financial literacy and saving behavior have a significant relationship with retirement planning. It is hope that this study will inform and encourage the young professionals to save and invest for the retirement.
ISSN:2261-2424
2416-5182
2261-2424
DOI:10.1051/shsconf/20173600024