Planning Tomorrow Today: Retirement Goal Clarity and Financial Retirement Planning Practices Among Employees

DOI: https://doie.org/10.10399/APER.2025974269

Authors:

Mr. Gourav Mittal, Dr. Pardeep Gupta

Keywords:

Demographic Determinants, Financial Literacy, Financial Planning Activities, Retirement Preparedness, Retirement Goal Clarity

Abstract:

Retirement planning is a critical component of financial literacy, influencing individuals’ long-term financial security and quality of life post-retirement. This study investigates retirement goal clarity and financial planning activities among 380 working employees, examining differences based on gender, nature of job, age, and educational qualification. Using the General Retirement Goal Clarity Scale and Financial Planning Activity Scale, descriptive statistics, independent sample t-tests, and one-way ANOVA were conducted to analyze the data. Findings reveal that females engage more in specific financial planning behaviors, government employees demonstrate higher retirement goal clarity, and older and more educated individuals exhibit greater preparedness for retirement. The results highlight significant demographic determinants of retirement planning behaviors, emphasizing the need for targeted financial literacy interventions and policies to enhance retirement readiness across diverse population segments. These findings inform policy interventions and financial literacy programs targeting diverse employee groups

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