An Analysis of Working Individual's Attitudes Towards Retirement Planning in Mumbai City

This study investigates the relationship between retirement planning behavior and the factors influencing it among working individuals in Mumbai City. The research focuses on understanding the significance of retirement planning and its impact on financial security during an individual’s post-retirement life. Data were collected through structured questionnaires administered to 120 respondents and analyzed using the two-tailed Mann-Whitney two-sample rank-sum test. The findings reveal that demographic variables such as age and gender have little bearing on attitudes toward retirement planning. A significant majority of respondents expressed positive attitudes, with 77.5% agreeing that retirement planning enables them to pursue unfulfilled dreams, and 81.67% stating they look forward to retirement. Additionally, 65.83% reported having no worries about their life after retirement, while 83.3% found retirement planning to make them feel useful. These results highlight the importance of fostering positive attitudes toward retirement planning, emphasizing both financial preparedness and emotional well-being. The study concludes that many pre-retirement planning initiatives should be introduced and managed by businesses and governments to enhance retirement readiness among working professionals Keywords: Retirement Planning, Employees, Working Individuals