Factors Affecting Retirement Planning Behavior of Working Individuals: A Case Study In Lucknow

Youth is wasted on the young. Often money is, too.” Thus, individuals forgo their future for nourishment of present. Consequently, individuals after retirement found themselves stuck in a situation where they had to rely on others for earning themselves a living. This forecast makes investing in retirement benefit plan, essential. Despite of various benefits of financial independence in retirement, the population at Lucknow does not sufficiently engage with retirement planning due to lack of financial literacy. The purpose of this study is to identify factors influencing retirement planning behavior among the working individual in Lucknow. Out of 360 questionnaires issued, only 304 were used for the study. This cross-sectional study was undertaken. The finding of this study explore the factor affecting retirement planning behaviour such as financial planning after retirement, income, attitude, culture, financial literacy and goal clarity will provide the strategies for governments, employers, financial advisers and those planning for retirement to implement it to make it simpler leads to financial independence