Mediating role of retirement planning to achieve retirement adequacy & retirement satisfaction: A structural equation model evaluation

The current study assimilates concepts from the theory of learned behaviourthrough interactions with the environmentwhere individuals make adaptive choices with a sample of 385 IT and ITES employees. The study conceptualized essential financial behaviours for effectiveretirement planning as a typology for retirement adequacy and satisfaction by providing empirical support for the validity of this typology. Retirement planning is the process of determining retirement income goals, and the actions and decisions necessary to achieve those goals. We found that retirement planning starts long before an individual retires as it is intrinsicand is influenced by individual’s attitude, knowledge, and information. Successful planning for retirement hinge on the propensity to save and invest for an unforeseen future with an intention of better tomorrow. Our findings provide support for the dynamic process of retirement planning and provide evidence that exogenous latent variable like savings attitude, borrowing pattern, investment decisions, insurance allocation and spending behaviour can facilitate retirement adequacy through financial security and satisfaction.