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Framing the Retirement Planning Behavior Model towards Sustainable Wellbeing among Youth: The Moderating Effect of Public Profiles

Author

Listed:
  • Asyraf Afthanorhan

    (Faculty of Business and Management, University Sultan Zainal Abidin (UniSZA), Campus Gong Badak, Kuala Nerus 21300, Malaysia)

  • Abdullah Al Mamun

    (UCSI Graduate Business School, Faculty of Business and Management, UCSI University, Cheras, Kuala Lumpur 56000, Malaysia)

  • Noor Raihani Zainol

    (Faculty of Entrepreneurship and Business, University Malaysia Kelantan, Kota Bharu 16100, Malaysia)

  • Hazimi Foziah

    (Faculty of Business and Management, University Sultan Zainal Abidin (UniSZA), Campus Gong Badak, Kuala Nerus 21300, Malaysia)

  • Zainudin Awang

    (Faculty of Business and Management, University Sultan Zainal Abidin (UniSZA), Campus Gong Badak, Kuala Nerus 21300, Malaysia)

Abstract

This study examines the effect of financial literacy, saving attitudes, social influence, and goal clarity on the retirement planning construct. In addition, it investigates how the public demographic profile moderates these relationships. The questionnaire approach was utilized to collect data by adopting and customizing the measurement scale from previous studies. A systematic random sampling approach was employed on 323 prospective respondents. The outcomes of this study illustrate that all relationships are significantly and positively associated with retirement planning using structural equation modeling (SEM). Furthermore, all moderator variables (gender, age, status, income, and education) moderated the relationships. The government should construct a holistic retirement planning model that is based on demographic characteristics.

Suggested Citation

  • Asyraf Afthanorhan & Abdullah Al Mamun & Noor Raihani Zainol & Hazimi Foziah & Zainudin Awang, 2020. "Framing the Retirement Planning Behavior Model towards Sustainable Wellbeing among Youth: The Moderating Effect of Public Profiles," Sustainability, MDPI, vol. 12(21), pages 1-24, October.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:21:p:8879-:d:434950
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    Cited by:

    1. Mohamad Fazli Sabri & Mervin Anthony & Siong Hook Law & Husniyah Abdul Rahim & Nik Ahmad Sufian Burhan & Muslimah Ithnin, 2024. "Impact of financial behaviour on financial well-being: evidence among young adults in Malaysia," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 788-807, September.
    2. Mohd Nor Hakimin Bin Yusoff & Fakhrul Anwar Zainol & Mohammad Ismail & Razman Hafifi Redzuan & Rooshihan Merican Abdul Rahim Merican & Muhammad Ashlyzan Razik & Asyraf Afthanorhan, 2021. "The Role of Government Financial Support Programmes, Risk-Taking Propensity, and Self-Confidence on Propensity in Business Ventures," Sustainability, MDPI, vol. 13(1), pages 1-16, January.
    3. Gutura Rudo & Chisasa Joseph, 2024. "The Relationship between Financial Literacy and Retirement Planning among Informal Sector Workers in Randburg, South Africa," Folia Oeconomica Stetinensia, Sciendo, vol. 24(1), pages 56-74.

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