Future time perspective and job satisfaction in financial planning for retirement

Abstract

The analysis of the role that job satisfaction (JS) can play in a psychological model of financial planning for retirement (FPR) is an original contribution of this research. The study focuses on a sample of the Spanish population, necessitating an appropriate measure of FPR. The findings provide robust evidence that psychological factors—such as Future Time Perspective (FTP), operationalized through the Consideration of Future Consequences construct in this study—are the primary drivers of FPR. The influence of psychological factors is further strengthened by their role as mediators between sociodemographic variables and FPR. Moreover, JS exerts a negative but moderate influence on FPR, providing opportunities for public policy interventions. The stability of these relationships was assessed using multi-group structural equation modeling, revealing significant differences across age groups, which stimulate further research.