Anokye M. Adam|Siaw Frimpong|Mavis Opoku Boadu
Financial literacy and financial planning: Implication for financial well-being of retirees
University of Cape Coast|University of Cape Coast|University of Cape Coast
study examines financial literacy financial behaviour family support another source income number dependents retirement planning influence financial wellbeing retirees cape coast metropolis ghanaa crosssectional survey strategy employed 400 respondents randomly selected 1500 members association analyze effect financial literacy financial behaviour family support number dependents retirement planning financial wellbeingit tests hypothesized relationships use partial least squares pls structural equation modelling techniquethe results reveal financial literacy retirement planning family support significantly impact financial wellbeing retireesmore importantly effect family support retirement planning retirees financial wellbeing stronger one financial literacythe findings imply finance literacy retirement planning promotedin addition policies aimed bridging social cohesion promoting family values ignored maximize financial wellbeing retireesthe study contributes extant literature financial literacy provides evidence effect financial literacy financial planning financial wellbeing retirees developing countryit also provided support need social cohesion