Financial Planning for Retirement among Gig Workers in Peninsular Malaysia: A Proposed Conceptual Framework

This study aims to examine the factors affecting financial planning for retirement among gig workers in Peninsular Malaysia. To guarantee financial well-being during post-retirement life, people need to have proper financial planning for retirement. Using a systematic review of the literature, two main online databases, Scopus and Web of Science, were used to assess the literature on past studies based on the advanced search query and enriched keywords: (“FINANCIAL WELL-BEING*” OR “FWB” OR “FINANCIAL WELLBEING”) AND (“FINANC*” OR “RETIR*”) AND (“PLAN*”) from the beginning of 2020 till the end of 2024. As a result, four variables were incorporated, which are financial risk tolerance, financial behaviour, financial knowledge, and financial well-being. At the same time, financial well-being also acts as a mediator. The theory of life-cycle hypothesis and past empirical studies served as the underpinning theory to link the relationship between four variables and financial planning for retirement, resulting in a proposed conceptual framework for this study. This study is expected to contribute to the literature on financial well-being in the context of financial planning for retirement, specifically for gig workers.