The influence of retirement goals and risk attitudes on Malaysian women’s retirement planning

Figures & data

Table 1. Respondents demographic

Gender	Frequency	Percent
Male	56	12.4
Female	387	87.6
Race
Malay	287	64.8
Chinese	32	7.2
Indian	68	15.3
Bumiputera Sabah	34	7.7
Bumiputera Sarawak	19	4.3
Others	3	7
Age
26–35	117	26.4
36–45	227	51.2
46–55	79	17.8
Above 56	20	4.5
Education
Secondary (Form 1–6)	10	2.3
Tertiary (College/Vocational/University)	93	21.0
Postgraduate (Masters/PhD)	340	76.7
Annual income (Ringgit Malaysia)
Less than 50,000	127	28.7
Between 51,000–75,000	110	24.8
Between 76,000–100,000k	107	24.2
More than 100,000	99	22.3
Work experience (years)
Less than 5	70	15.8
Between 6–10	77	17.4
Between 11–15	103	23.3
More than 15 years	193	43.6
Total	443	100.0

Figure 1. Measurement model conceptual framework.

Table 2. Analysis of gender influence on retirement planning

			Estimate	S.E.	C.R.	P	standardized	R Square
Retirement Planning	<—	Gender	−0.09	0.11	−0.8	0.42	−0.04	0.00
Variances: (Group number 1 - Default model)
			Estimate	S.E.	C.R.	P	Label
Gender			0.11	0.01	14.87	***
e1			0.56	0.04	14.87	***

Table 3. Differences in opinion between men and women about retirement

Attributes Gender		N	Mean	Std. Deviation	Std. Error Mean
Retirement Planning	Male	56.00	2.32	0.77	0.10
	Female	387.00	2.24	0.75	0.04
Attitude to risk	Male	56.00	20.54	4.20	0.56
	Female	387.00	19.81	4.26	0.22
Retirement goal	Male	56.00	26.79	5.71	0.76
	Female	387.00	26.56	4.07	0.21

Figure 2. Women’s retirement goals, risk perceptions and retirement planning.

Figure 3. Men’s retirement goals, risk perception, and retirement planning.

Table 4. Influence of retirement goals and risk perceptions on retirement planning

	Men				Women
	Beta	Probability	Std	R Square	Beta	Probability	Std	R Square
RG1	1
RG2	1.00		0.67	0.45	1.00		0.33	0.11
RG3	0.10	0.70	0.05	0.00	0.58	0.07	0.10	0.01
RG4	1.70	***	0.90	0.81	2.47	***	0.55	0.31
RG5	1.33	***	0.91	0.83	2.74	***	0.74	0.55
RG6	1.46	***	0.91	0.82	3.69	***	0.81	0.66
RG7	1.28	***	0.89	0.80	3.63	***	0.82	0.67
RG8	0.52	0.05	0.27	0.07	1.62	***	0.30	0.09
RIK1	1.00		0.52	0.27	1.00		0.69	0.48
RIK2	1.11	0.00	0.65	0.43	1.05	***	0.66	0.44
RIK3	−0.15	0.62	−0.08	0.01	−0.46	***	−0.27	0.07
RIK4	0.42	0.15	0.24	0.06	0.34	***	0.22	0.05
RIK5	0.84	0.01	0.56	0.32	0.35	***	0.24	0.06
RIK6	0.85	0.01	0.60	0.36	0.49	***	0.35	0.12
RIK7	0.60	0.01	0.48	0.23	0.30	***	0.22	0.05
Ret Plan	0.48	0.00	0.43		1.36	***	0.39
Ret Plan	0.01	0.96	0.01		0.04	0.49	0.04
Ret Plan (Overall)				0.19				0.17

Note: *p, .05. ** p, .01. *** p, .001.