The effect of financial literacy on retirement planning among young adults: the role of gender

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The study's goal is to investigate the impact of financial literacy on retirement planning and how gender and financial behaviour may influence this relationship. Descriptive and cross-sectional study designs were employed for this investigation. Utilizing a quantitative research approach, this study was carried out. A purposive sampling strategy was used to choose 300 participants. A structured interview guide is the principal data collection method. SPSS vs26 and SmartPLS 4 were used for the data analysis. Descriptive and inferential research approaches were used to analyse the data. The outcome demonstrates that there was a positive, significant direct impact on financial behaviour and retirement planning. The outcome also demonstrates that the connection concerning financial literacy and retirement planning is positively mediated by financial behaviour. The results also show that gender does not moderate the connection concerning financial literacy and retirement planning. The large mediating influence of financial behaviour indicates the need for practical, hands-on financial seminars or programmes to assist retirees in using their financial literacy.
A thesis submitted to the department of accounting and finance, school of business in partial fulfilment of the requirements for the degree of master of science in accounting and finance