期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2021
卷号：11
期号：11
页码：2546-2559
DOI：10.6007/IJARBSS/v11-i11/11774
语种：English
出版社：Human Resource Management Academic Research Society
摘要：Being financially prepared for retirement is challenging due to the escalating cost of living and the slower labour income movement. Moreover, people have lower pay and consequently, are contributing less to the Employee Provident Fund. The problem is exacerbated by poor money management and the increasing demand to accumulate more retirement funds due to longer life expectancy. Failing to do so would increase one’s vulnerability economically, hence, a proper plan needs to be put in place. The objective of this study is to explore financial preparedness for retirement among private-sector employees in the Klang Valley with research question of “what are the experiences of private-sector employees in financially preparing for their retirement”? A total of 15 informants consisting of private-sector employees were chosen for the focus group discussion. A thematic analysis was used to analyse the qualitative data. The study found that the themes related to the perspective on retirement, preparing, planning, saving, and dealing with financial challenges were detailed as aspects of financial preparedness for retirement. The results which have categorised the respondents into clusters with similar characteristics, allow the identification of targets for intervention by financial educators or government bodies in the attempt to help them in their area of need.
