Mediating factors in retirement savings and well-being: a focused study on Sarawak
This study aims to examine the factors that influence societal savings habits and pre-retirement well-being. Triggered by the global trend of low personal interest rates, it seeks to illuminate how preparedness for retirement affects the overall quality of life and societal well-being. More specific...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2024-12-01
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| Series: | Cogent Economics & Finance |
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| Online Access: | https://www.tandfonline.com/doi/10.1080/23322039.2024.2422217 |
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| author | Suzie Adee Evan Lau Shirly Wong |
| author_facet | Suzie Adee Evan Lau Shirly Wong |
| author_sort | Suzie Adee |
| collection | DOAJ |
| description | This study aims to examine the factors that influence societal savings habits and pre-retirement well-being. Triggered by the global trend of low personal interest rates, it seeks to illuminate how preparedness for retirement affects the overall quality of life and societal well-being. More specifically, the study pursues three (3) main objectives: 1) to identify the socio-demographic and behavioural elements that shape societal savings habits; 2) to determine the factors that affect individuals’ propensity to save; and 3) to assess the impact of savings behaviours on pre-retirement well-being, focusing on aspects such as happiness, prosperity, health, comfort, and security. We used the Partial Least Squares Structural Equation Model (PLS-SEM) with SMART-PLS to analyse these relationships. The results illustrate significant correlations among financial literacy, savings habits, financial risk tolerance, future time perspectives, retirement savings, and retirement well-being. These findings bolster the study’s conclusions, which are further supported by active survey participation. |
| format | Article |
| id | doaj-art-01136d5083bc4a67a3c9fa6172a5ee14 |
| institution | OA Journals |
| issn | 2332-2039 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Economics & Finance |
| spelling | doaj-art-01136d5083bc4a67a3c9fa6172a5ee142025-08-20T01:47:25ZengTaylor & Francis GroupCogent Economics & Finance2332-20392024-12-0112110.1080/23322039.2024.2422217Mediating factors in retirement savings and well-being: a focused study on SarawakSuzie Adee0Evan Lau1Shirly Wong2Faculty of Economics and Business, Universiti Malaysia Sarawak (UNIMAS), Sarawak, MalaysiaFaculty of Economics and Business, Universiti Malaysia Sarawak (UNIMAS), Sarawak, MalaysiaFaculty of Economics and Business, Universiti Malaysia Sarawak (UNIMAS), Sarawak, MalaysiaThis study aims to examine the factors that influence societal savings habits and pre-retirement well-being. Triggered by the global trend of low personal interest rates, it seeks to illuminate how preparedness for retirement affects the overall quality of life and societal well-being. More specifically, the study pursues three (3) main objectives: 1) to identify the socio-demographic and behavioural elements that shape societal savings habits; 2) to determine the factors that affect individuals’ propensity to save; and 3) to assess the impact of savings behaviours on pre-retirement well-being, focusing on aspects such as happiness, prosperity, health, comfort, and security. We used the Partial Least Squares Structural Equation Model (PLS-SEM) with SMART-PLS to analyse these relationships. The results illustrate significant correlations among financial literacy, savings habits, financial risk tolerance, future time perspectives, retirement savings, and retirement well-being. These findings bolster the study’s conclusions, which are further supported by active survey participation.https://www.tandfonline.com/doi/10.1080/23322039.2024.2422217Financial literacysavings Habitfinancial risk tolerancefuture time perspectiveretirementwell-being |
| spellingShingle | Suzie Adee Evan Lau Shirly Wong Mediating factors in retirement savings and well-being: a focused study on Sarawak Cogent Economics & Finance Financial literacy savings Habit financial risk tolerance future time perspective retirement well-being |
| title | Mediating factors in retirement savings and well-being: a focused study on Sarawak |
| title_full | Mediating factors in retirement savings and well-being: a focused study on Sarawak |
| title_fullStr | Mediating factors in retirement savings and well-being: a focused study on Sarawak |
| title_full_unstemmed | Mediating factors in retirement savings and well-being: a focused study on Sarawak |
| title_short | Mediating factors in retirement savings and well-being: a focused study on Sarawak |
| title_sort | mediating factors in retirement savings and well being a focused study on sarawak |
| topic | Financial literacy savings Habit financial risk tolerance future time perspective retirement well-being |
| url | https://www.tandfonline.com/doi/10.1080/23322039.2024.2422217 |
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