Abstract:

Financial literacy is the basis of successful retirement planning. Additionally, financial literacy has been shown to relate to important financial behaviours. However, there is evidence that many individuals are not well-equipped to make sound saving decisions especially youth. This study was developed with an aim to investigate the level of financial literacy among Malaysian youth and its relationship with their retirement planning practices. The study was conducted among youth in Malaysia via quantitative research approach with the aid of survey questionnaires. Respondents of this study includes Malaysian within the age of 25 until 40 years old that were randomly selected. Sampling approach used in this study was purposive sampling method. This questionnaire used in this study will help in measuring the level of financial literacy among Malaysian youth as well as the retirement planning practices among respondents. The questionnaire contains several questions related to demographic, the level of financial literacy and the relationship between financial literacy and retirement planning. Data collected will be analysed using Statistical Package for Social Sciences (SPSS). The findings of this study will provide new knowledge and understanding of financial literacy and retirement planning practices among Malaysian youth.