The study aims to look at the level of difference between gender, age, and marital status with regard to the retirement financial preparation of teachers. Retirement financial preparation is essential in providing financial resources for a person's life after retirement, especially retirement savings, insurance adequacy, health, housing, and income. Every individual needs to plan their retirement finances well so that their savings will last for 20 years or more even in the current challenging economic conditions. Therefore, retirement financial planning should be related to one's retirement goals. The survey approach was implemented through self-administered questionnaires. The sample consists of 410 respondents, specifically high school teachers, who were selected using random sampling. Data were collected through online visits and surveys and analyzed using T-test and ANOVA tests through IBM SPSS Version 26 software. The findings for the level comparison test showed significant differences in gender, age, and marital status with teachers’ retirement financial preparation. Retirement financial preparation is very important for teachers to plan from now on, especially by taking initiatives such as seeking financial expert advice, attending financial planning workshops, programs and learning how to manage their finances well. However, in this study, the researcher only focused on school teachers only. Therefore, future researchers need to choose a wider range of respondents and need to take demographic factors into account when planning their retirement financial preparation.
Adams, G. A., & Rau, B. L. (2011). Putting off tomorrow to do what you want today, Planning for retirement. American Psychologist, 66(3), 180–192.
Mourine A., Ambrose, J., & Fredrick, N. W. S. (2017). Financial Literacy and Financial Preparedness for Retirement among Permanent and Pensionable Employees in state owned Corporations in Nairobi, Kenya. International Journal of Business and Social Science, 8(11), 68-83.
Lusardi, A. (2019). Financial literacy and the need for financial education: evidence and implications, Swiss Journal of Economics and Statistics, 155(1), 1.
Collins, C., Landivar, L. C., Ruppanner, L., William, J. S. (2020). COVID-19 and The Gender Gap In Work Hours, Gender, Work, Organization, 28(S1), 101-112.
Christian, E. W., & Michele, E. T. (2020). "The Retirement Savings Penalty Borne by Women," Challenge, Taylor & Francis Journals, Vol.63(4), 201-218.
Clark, R., Hammond, R., & Liu, S. (2021). Work after retirement: worklife transitions of career public employees. Journal of Pension Economics & Finance, 20(3), 341-356.
Clark, R., Lusardi, A., Mitchell, O. S., Davis, H. (2021). Financial Well-being among Black and Hispanic Women. Journal of Retirement, 9(1), 1-2.
Topa, G., Lunceford, G., and Richard, E. B. (2018). Financial Planning for Retirement: A Psychosocial Perspective, Organizational Psychology,.8(1), 2338.
Wai, K. T. (2016). Financial planning and the application of financial behavior theory and Maslow's need theory: A case study of EPF in Malaysia, Malaysian Journal of Society and Space, 12(8), 10 – 21.
Koh, B. S., and Mitchell, O. S. (2019). Retirement Preparedness and Financial Literacy in Singapore: How Do the Self-Employed Compare? Retrieved from http://doi.org/10.2139/ssrn.3535917
Lusardi, A., & Mitchell, O. S. (2017). How ordinary consumers make complex economic decision: Financial literacy and retirement readiness. Quarterly Journal of Finance, 7(3), 82
Mahapatra, M. S., Raveendran, J., & De, A. (2019). Building a Model on Influence of Behavioural and Cognitive Factors on Personal Financial Planning: A Study Among Indian Households. Global Business Review, 20(4), 996–1009.
Maximiliane, E., Szinovacz, S., DeViney and Davey, A. (2001). Influences of Family Obligations and Relationships on Retirement: Variations by Gender, Race, and Marital Status, Journal of Gerontology: Social Sciences, 56(1), 20–27.
Shreevastava, R. (2020): Impact Of Demographic Variable Of Retirement Planning Behavior Of Gen Y, Journal of Archaeology of Egypt, 17(6), 9452-9460.
Salbiah, N. S. A., Suhailah, I., Suzana, A. R., Azlin, N. M. K., & Aini, N. M. R. (2016). A Review of GST Enforcement on Tourism Sector. Journal of Global Business and Social Entrepreneurship (GBSE), 2(5), 55–65.
Kumar, S., Tomar, S., and Verma, D. (2018). Women’s financial planning for retirement. The International Journal of Bank Marketing; Bradford, 37(1), 120-141.
Ali, S. (2016). Quality of life of Malaysian male and female retirees: A case study in Besut, Terengganu. Malaysian Journal of Society and Space, 12 (5), 11 – 21.
Selvadurai, V., Kenayathulla, H. B., & Siraj, S. (2018). Financial Literacy Education And Retirement Planning In Malaysia, Malaysian Online Journal Of Educational Management, 6(2), 41–66.
