Form Survival to Security : How Financial Literacy, Financial Attitude and Income Affect the Sandwich Generation to Plan Finance for Retirement

Defri Yuindra

Abstract


Retirement is a phase of life that often causes anxiety for some people. This period marks a significant turning point in a person's life, as they enter a less productive age and no longer work as they did when they were younger. It's important to recognize that there are three common and almost certain challenges faced during retirement: declining health, financial difficulties, and Post-Power Syndrome. To live a more prosperous old age and be able to meet daily living needs, early preparation is necessary. One way to achieve this is through retirement planning, starting while still in their productive years. Retirement planning is the process individuals undertake to prepare for their financial situation in retirement, eliminating the need for hard work in old age. According to (Kohar, 2020), retirement planning aims to create a better future through planned income management, encompassing savings, expenses, and investments. Properly executed retirement planning will lead to a more prosperous life in old age. Therefore, individuals need a clear understanding of their financial situation. Financial literacy plays a crucial role in this, as it encompasses the knowledge, skills, and confidence in managing their personal finances. With good financial literacy, personal financial management will be more focused and effective. Financial management itself is a component of personal financial management. In practice, successful financial management is also greatly influenced by an individual's financial attitude, which determines how a person plans and manages their daily finances.


Keywords


Financial Attitude; Financial Literacy; Income; Sandwich Generation; Survival.

Full Text:

PDF

References


Journals:

Adiputra, I. G., & Patricia, E. (2020). The Effect of Financial Attitude, Financial Knowledge, and Income on Financial Management Behavior. 439(Ticash 2019), 107–112. https://doi.org/10.2991/assehr.k.200515.019

Aida, N. N., & Rochmawati, R. (2022). Pengaruh Sikap Keuangan, Locus of control, Teman Sebaya terhadap Perilaku Pengelolaan Keuangan dengan Literasi Keuangan sebagai Variabel Mediasi. Jurnal Pendidikan Akuntansi (JPAK), 10(3), 257–266. https://doi.org/10.26740/jpak.v10n3.p257-266

Alteza, M., & Harsono, M. (2021). Keuangan Keperilakuan : Telaah Atas Evolusi. Jurnal Ilmu Manajemen, 18(1), 1–19. https://journal.uny.ac.id/index.php/jim/article/view/39342

Aulia, N., Yuliati, L. N., & Muflikhati, I. (2019). Kesejahteraan Keuangan Keluarga Usia Pensiun: Literasi Keuangan, Perencanaan Keuangan Hari Tua, dan Kepemilikan Aset. Jurnal Ilmu Keluarga Dan Konsumen, 12(1), 38–51. https://doi.org/10.24156/jikk.2019.12.1.38

Bovenberg, L., Koijen, R., Nijman, T., & Teulings, C. (2007). Saving and investing over the life cycle and the role of collective pension funds. Economist, 155(4), 347–415. https://doi.org/10.1007/s10645-007-9070-1

Bradshaw, T. K., Vine, E., & Barth, G. (2024). Lifestyles. Competition for California Water: Alternative Resolutions, 01, 113–135. https://doi.org/10.1558/ecotheology.v9i1.124

Brilianti, T. R., & Lutfi. (2020). Pengalaman Keuangan, dan Pendapatan terhadap Perilaku Keuangan Keluarga. Journal of Business and Banking, 9(2), 1–17.

Bukhari, E., Wibowo, A., Fikri, N., Narpati, B., Raya, J., Raya Perjuangan, J., Mulya, M., Utara, B., & Barat, J. (2020). Pembekalan Perencanaan Keuangan dalam Memasuki Persiapan Pensiun bagi PNS Pemkot Bekasi (Vol. 3, Issue 1). https://ejurnal.ubharajaya.ac.id/index.php/Jabdimas

Deaton, A. (2005). Franco Modigliani and the Keynesian Legacy. BNL Quarterly Review, LVIII(September), 91–107. https://www.parsons.edu/scepa/conferences/papers/050415_hagemann_the-influence.pdf

Donaldson, T., Earl, J. K., & Muratore, A. M. (2010). Extending the integrated model of retirement adjustment: Incorporating mastery and retirement planning. Journal of Vocational Behavior, 77(2), 279–289. https://doi.org/10.1016/j.jvb.2010.03.003

Gustika, G. S., & Yaspita, H. (2021). Pengaruh Literasi Keuangan Terhadap Keputusan Investasi Mahasiswa STIE Indragiri Rengat. J-MAS (Jurnal Manajemen Dan Sains), 6(1), 261. https://doi.org/10.33087/jmas.v6i1.252

Mareta, M. (2018). PENDIDIKAN HUMANIS DALAM KELUARGA (Konstruksi Pola Asuh Orang Tua dalam Mempersiapkan Generasi Masa Depan). Jurnal Dawwam, 11(2), 17–38. https://journal.uinmataram.ac.id/index.php/qawwam/article/view/749

Mason, M. C., Zamparo, G., Marini, A., & Ameen, N. (2022). Glued to your phone? Generation Z’s smartphone addiction and online compulsive buying. Computers in Human Behavior, 136(May), 107404. https://doi.org/10.1016/j.chb.2022.107404

Maulida, A. (2022). 854-Article Text-2642-1-10-20220625. 14, 19–26.

Media Ekonomi Dan Manajemen ; Rita, M. R., Nugrahanti, Y. W., & Nastiti, P. K. Y. (2024). The Sources and Effects of Retirement Planning: An Empirical Study of Sandwich-Generation Employees in Indonesia. Media Ekonomi Dan Manajemen, 39(2), 317–333.

mimin,+1.+Abdul+Kohar+2. (n.d.).

Mustafa, W. M. W., Islam, M. A., Asyraf, M., Hassan, M. S., Royhan, P., & Rahman, S. (2023). The Effects of Financial Attitudes, Financial Literacy and Health Literacy on Sustainable Financial Retirement Planning: The Moderating Role of the Financial Advisor. Sustainability (Switzerland), 15(3). https://doi.org/10.3390/su15032677

Putri, N. A., & Lestari, D. (2019). Pengaruh Gaya Hidup dan Literasi Keuangan Terhadap Pengelolaan Keuangan Tenaga Kerja Muda di Jakarta. AKURASI: Jurnal Riset Akuntansi Dan Keuangan, 1(1), 31–42. https://doi.org/10.36407/akurasi.v1i1.61

Safari, K., Njoka, C., & Munkwa, M. G. (2021). Financial literacy and personal retirement planning: a socioeconomic approach. Journal of Business and Socio-Economic Development, 1(2), 121–134. https://doi.org/10.1108/JBSED-04-2021-0052

Simanjuntak, J., Ningsih, D., Syafitri, R., & Putera Batam, U. (n.d.). Pembinaan Literasi Keuangan Mengenai Dana Kesehatan dan Dana Pensiun Pada Masyarakat Tanjung Gundap Tembesi Sagulung Kota Batam. Jurnal Pengabdian Kepada Masyarakat, 12(4), 584–591. https://journal.upgris.ac.id/index.php/e-dimas

Statman, M. (2008). What Is Behavioral Finance? Handbook of Finance, 1–9. https://doi.org/10.1002/9780470404324.hof002009

Sun, S., & Lestari, E. (2022). Analisis Pengaruh Literasi Keuangan (Financial Literacy), Pengetahuan Investasi (Investment Knowledge), Motivasi Investasi (Investment Motivation) Dan Pendapatan (Income) Terhadap Keputusan Investasi Pada Masyarakat Di Batam. Jurnal Akuntansi AKUNESA, 10(3), 101–114. https://doi.org/10.26740/akunesa.v10n3.p101-114

Tabita, J., & Marlina, M. A. E. (2023). Pengaruh Financial Literacy Dan Financial Attitude Terhadap Perilaku Perencanaan Keuangan Masa Pensiun Pada Generasi Sandwich Di Surabaya. Media Akuntansi Dan Perpajakan Indonesia, 5(1), 39–56. https://doi.org/10.37715/mapi.v5i1.4165




DOI: https://dx.doi.org/10.30659/jrbi.v23i2.52879

Refbacks

  • There are currently no refbacks.


License URL: https://creativecommons.org/licenses/by/4.0/deed.en

Jurnal JRBI Indexed by :

google_scholar onesearch garuda crosref  onesearch  sinta scopus