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INFLUENCE OF DEMOGRAPHIC VARIABLES ON LEVEL OF AWARENESS REGARDING RETIREMENT PLANNING

K. Seethal, B. Menaka

Abstract


Financial freedom and financial success is one of the important dreams of each and every individual. The hard-earned money is to be carefully saved for meeting the needs and expenses during the retired life.  Retirement planning is a known concept to everyone. People are aware about their responsibility to plan for a successful retirement. But the actual question is whether they are actually getting involved in retirement planning practices. Working adults prefer to have a luxurious current life rather than saving for future. They are not at all interested in acquiring information regarding how they can actually save for retirement. Those who are highly aware will normally be having a tendency to save for retirement. As retirement is a crucial life stage the need to systematically plan for it should not be ignored.  The present study is a descriptive study conducted among 50 working individuals in private sector in Kannur District. The study analyses the impact of demographic variables on level of awareness regarding retirement planning.

Keywords


Retirement Planning, Level of Awareness, Financial Awareness, Financial freedom, Demographic Variables, Impact of retirement planning

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References


Mansor MF, Hong CC, Abu NH, and Shaari MS. (2015). “Demographic Factors Associated with Retirement Planning: A study of employees in Malaysian Health Sectors”, Asian Social Science, Vol.11(13), ISSN 1911-2017 E-ISSN 1911-2025, pp.108-116.

Mohapatra RK. (2016). “Retirement Planning”, Blue Rose Publishers.

Thakur SS, Jain SC, and Soni R. (2017). “A study on perception of individuals towards retirement planning”, International Journal of Applied Research, Vol.3(2), pp.154-157.


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