The Effect of Financial Literacy in Retirement Planning, Precautionary Saving and Insurance Planning

Abstract:

This study discusses the influence of financial literacy of Indonesians over the age of 17 years, especially those who are domiciled in the Jabodetabek region, on retirement planning decision making, ownership of precautionary saving decision making and planning on purchasing life insurance. This research is a quantitative study with a cross-sectional survey research design. The results of this study suggest that financial literacy influences retirement planning decision making, ownership of precautionary saving decision making and planning on purchasing life insurance. This suggest that increasing financial literacy is an important effort to increase financial decision making

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