What is it about?

The behavioral factors are postulated to be the underlying influence of performing the behavior. The objective of this study is to examine the influence of behavioral factors on retirement planning behavior through an appropriate measurement scale and theory. This project examines five significant variables—financial literacy, family education, propensity to plan, materialism, and future orientation—based on a large body of literature. This research tries to find the behavioral factors that might affect self-control ability that in turn would lead to performing the retirement planning behavior. Moreover, the relationship between these behavioral variables and retirement planning behavior through saving attitude is examined in this research. The study applies the theory of planned behavior and time perspective theory as a basis for the analysis of data by the structural equation modeling technique.

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Why is it important?

This project is important to my field because it postulates that the younger generation should start saving for their retirement time as early as possible. Moreover, other researchers cited my paper as a reference for the relationship between saving attitude and retirement planning. The results of my study are among the first that find the significant relationship between attitude and behavior. As a result, by enhancing the saving attitude, they will start to plan for their retirement and will have enough saving for their retirement. Planning for retirement will help individuals to save enough money for their retirement time. Having enough money not only will give individuals the peace of mind in their resting years but also it will reduce the huge burden on government. Unfortunately, the retirement planning crisis has persisted in many countries, including the US. Moreover, the number of aged populations is increasing specially in developed countries. As a result, this concern has become more highlighted and need special attention. One of the solutions of solving problem in nation scale is conducting the researches on individual’s behavior and responsibility of researches to fulfill this task is very critical. According to my field my concern is to do research on the issues of personal retirement planning, the section which is ignored most of the times. Changing individuals’ retirement planning behaviors requires an understanding of their perceptions and attitudes towards retirement planning.


In my opinion, this article takes a good look at the influential factors affecting retirement planning behavior. It opens a new avenue to research more about personal retirement planning and helps individuals to plan for their resting time.

Fatemeh Kimiyaghalam

Read the Original

This page is a summary of: Influential Behavioral Factors on Retirement Planning Behavior: The Case of Malaysia, Journal of Financial Counseling and Planning, November 2019, Springer Publishing Company,
DOI: 10.1891/1052-3073.30.2.244.
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