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Abstract:
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The purpose of this study was to investigate the financial planning behaviors for retirement preparation of working age people in Bangkok. The data was collected by using questionnaires from 400 samples of permanent and non-permanent workers, between 22-60 years and then analyzed with descriptive statistics.
The results showed that both groups of workers had different personal characteristics. Permanent workers had a stable career and granted the legal rights and social security from work, single and had higher saving goal for retirement compared with non-permanent workers. On the other hand, it is noticeable that non-permanent workers had self-employed that cause to have not receive the legal rights and social security from work, had family but had saving goal for retirement less than permanent workers. However, both labor groups still do not have enough savings for retirement.
Moreover, there are no significantly different between the worker groups in terms of saving and investment patterns they have chosen. However, permanent workers had more diverse patterns compared with another group. Another find out that cannot be ignored was medium-long term patterns, such as life insurance which non-permanent workers had less savings and investments.
Factors significantly affecting the saving and investment patterns chosen by the workers consist of age, occupation, status, income, expenses, target savings after retirement, risk and experience.
Keywords: retirement age, working age people, financial planning behaviors, permanent workers, non-permanent workers
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