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E3 Journal of Business Management and Economics

E3 Journal of Business Management and Economics Vol. 3 (2) pp. 069-078, February 2012; © E3 Journals; ISSN 2141-7482

Financial education: Determinant of retirement planning in malaysia

Jee Yoong FOLK * , Loo See BEH , Diana-Lea BARANOVICH
Institute of Post Graduate Studies, University of Malaya, Malaysia
*Corresponding Author E-mail: yoong61@gmail.com
Accepted 4 January 2012

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 analyzed using hierarchical regression analysis. The results revealed that some mediating effect existed between financial learning and behavioral 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 behavioral assessment of personal finances, subjective perception and perceived financial well-being perspective.

Keywords: Economic well-being; Financial planning; Financial education; Literacy

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