AN INVESTIGATION OF FINANCIAL ATTITUDES AND SUBJECTIVE NORMS INFLUENCING RETIREMENT PLANNING

Retirement counselors, financial planning specialists, and financial advisors often point out that attitudes and subjective norms are two highly important factors for saving intentions and retirement planning. The objective of this research is to investigate the effects of attitudes and subjective norms on saving plan intentions among the employees working in Thailand. This research has been conducted using the survey data on 400 employees (300 Thais and 100 foreigners) now working in Thailand. The key data analysis method has been Structural Equation Modeling (SEM) AMOS. The findings indicate that financial attitude has a positive effect on the saving plan intention, and subjective norms also have a positive effect on the saving plan intention. Therefore, employees should focus significantly on attitudes and subjective norms while creating their saving plans in the context of financial retirement planning. The study makes a scientific contribution in the form of s comprehensive model which is explaining investors’ behavior in part of financial planning for retirement.