The influence of age and income on financial planning: A case study on its impact on retirement planning decision Mohanty Anoop1,*, Bhanu2, Siddhant2 1Assistant Professor, Mittal School of Business, Lovely Professional University, Phagwara, Punjab 2Research Scholars, Mittal School of Business, Lovely Professional University, Phagwara, Punjab *Corresponding Author E-mail: anoop.mohanty@lpu.co.in
Online Published on 24 January, 2024. Abstract Retirement refers to a stage in life when an individual stops working and transitions into a life of leisure and relaxationwhere involvement in activities decreases and becomes more limited. Even after a person reaches retirement age, a good retirement life needs continued job and a source of regular income. Retirement planning includes financial planning and preparation to ensure a comfortable standard of living after the cessation of employment. Inadequate retirement planning will typically result in some dissatisfaction during retirement. Therefore, it is crucial to have a good retirement plan. The reasonto conduct this study is to examine the significance of demographic variables and its impact while preparing for retirementin India amongst young employees. The objectivehere is determining the importanceofvariables including age and incomewith regard to financial planning for retirement. The study is conducted in Indian context. Age and income are the demographic factors on which the study is conducted. The conclusions of this research will aidpeople of India in creating a sound retirement plan for their future. Top Keywords Retirement planning, Demographic variables. Top |