Chapter 16 Retirement Planning by Maltese Nationals: A Study of Influential Factors

Of the most prominent of behaviors, procrastination, myopia, and inertia were observed. In the local market, these seemed to stem from a sense of disorientation as to the meaning of certain concepts, how to initiate the process and which actions to take. In fact, although many did not admit it outright, respondents showed low levels of confidence in their abilities, and avoid acting out of fear that it may not be the right choice. At the same time, they would try to rationalize their lack of action by the premise that things would sort themselves out, although this is typically labeled as overconfidence, it is likely to be an attempt to feel better about their stance on the matter.