A study on Impact of financial literacy on retirement saving attitude in India

- Gargi Vyas, Kalol Institute of Management

Abstract:

Retirement saving planning is very crucial for individual, family, society, government, businesses and financial institutions. There are various psychological factors which affects the retirement saving planning of employees. This paper is to present suggestions for a preparation for retirement course in terms of various aims and objectives like, Financial literacy of private sector employees in Gujarat, Influence of financial literacy on retirement saving behavior, the influence of risk tolerance and future time perspective on retirement saving behavior, to examine the influence of demographic characteristics of employees on retirement saving, plan the efficient use of financial resources, be aware of the key factors to consider when investing for income in retirement and the advantages and disadvantages of some forms of investment, the elements of income tax applicable to retired persons, Various key factors to be consider while investing for income in retirement and the advantages and disadvantages of some common forms of investment.

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