IJSSER

Title: RETIREMENT SAVINGS AND FINANCIAL ATTITUDES AMONGST PEOPLE OF DIFFERENT AGE GROUPS AND MARITAL STATUS
Authors: Mishti Goyal
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Mishti Goyal DPS International Saket
MLA 8 Goyal, Mishti. "RETIREMENT SAVINGS AND FINANCIAL ATTITUDES AMONGST PEOPLE OF DIFFERENT AGE GROUPS AND MARITAL STATUS." Int. j. of Social Science and Economic Research, vol. 8, no. 8, Aug. 2023, pp. 2298-2321, doi.org/10.46609/IJSSER.2023.v08i08.015. Accessed Aug. 2023. APA 6 Goyal, M. (2023, August). RETIREMENT SAVINGS AND FINANCIAL ATTITUDES AMONGST PEOPLE OF DIFFERENT AGE GROUPS AND MARITAL STATUS. Int. j. of Social Science and Economic Research, 8(8), 2298-2321. Retrieved from https://doi.org/10.46609/IJSSER.2023.v08i08.015 Chicago Goyal, Mishti. "RETIREMENT SAVINGS AND FINANCIAL ATTITUDES AMONGST PEOPLE OF DIFFERENT AGE GROUPS AND MARITAL STATUS." Int. j. of Social Science and Economic Research 8, no. 8 (August 2023), 2298-2321. Accessed August, 2023. https://doi.org/10.46609/IJSSER.2023.v08i08.015.
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ABSTRACT: As per the RBI report (2016) on household finance, seventy-seven per cent of Indians do not save for retirement. Therefore, financial planning for retirement should be an essential part of financial planning during the working years. An Individual’s financial behaviour is influenced by many variables that are marital status, age group and level of education etc. Hence, the present study focuses on finding how and to what extent these variables affect retirement savings. It also observes the patterns between the financial means opted by people. A Google Form survey was used to collect information regarding retirement patterns among residents of Delhi. The sample size was 49. The results from the study show that people aren't aware of the accurate amount they should be saving for retirement and they tend to push retirement savings all through their 20s and 30s. Hence, it is important for the stakeholders to create policies and spread awareness among younger age groups about the importance of starting retirement planning early.

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