The Impact of Personal Financial Planning on the Expected Quality of Life after Retirement of Personnel in Public Higher Education Institutions in Thailand
Main Article Content
Abstract
This research article aims to examine (1) the impacts of personal financial planning on health management, the built environment, and the expected quality of life after retirement; (2) the impacts of health management on the built environment and the expected quality of life after retirement; and (3) the impacts of the built environment on the expected quality of life after retirement among personnel in public higher education institutions in Thailand. A mixed-methods approach was employed: qualitative data was collected through in-depth interviews with 12 key informants, while quantitative data were gathered using questionnaires from 500 lecturers and staff. Descriptive and inferential statistics were used for data analysis, and structural equation modeling was conducted using specialized computer software.
Findings are as follows: (1) The structural equation model demonstrated a good fit with the empirical data (c2/df = 0.99, p = .50, RMSEA = 0.00), explaining 52% of the variance in the expected quality of life after retirement. The expected quality of life was found to be most strongly influenced through health management and the built environment. (2) The qualitative findings supported all aspects of the quantitative results. The significance of this research lies in its applicability to retirement preparedness for working-age personnel, helping to mitigate financial, health, and lifestyle issues, and promoting a better, happier post-retirement quality of life.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Academic articles, research articles, and book reviews in the Ph.D. in Social Sciences Journal are author’s opinions, and not the publisher’s, and is not the responsibility of the Ph.D. in Social Sciences Journal Philosophy Association, Ramkhamhaeng University. (In the case that research is done on human, the researcher has to be trained in Ethics for Doing Research on Human Training and has to produce the evidence of the training).
References
กรมกิจการผู้สูงอายุ. (2566). สถิติผู้สูงอายุ: ข้อมูลผู้สูงอายุทั่วไป. https://www.dop.go.th/th/statistics_page?cat=1&id=1
กระทรวงการอุดมศึกษา วิทยาศาสตร์ วิจัยและนวัตกรรม. (2567ก). รายงานการพัฒนาการศึกษาและนวัตกรรมทางการศึกษาในประเทศไทย. กระทรวงการอุดมศึกษา วิทยาศาสตร์ วิจัยและนวัตกรรม.
กระทรวงการอุดมศึกษา วิทยาศาสตร์ วิจัยและนวัตกรรม. (2567ข). รายงานข้อมูลบุคลากรในสถาบันอุดมศึกษาของรัฐ. สำนักงานนโยบายอุดมศึกษา.
กระทรวงการอุดมศึกษา วิทยาศาสตร์ วิจัยและนวัตกรรม, สำนักงานปลัด. (2567). ข้อมูลบุคลากร: จำแนกตาม ประเภทสถาบัน. https:// info.mhesi.go.th/homestat_stf.php
ตลาดหลักทรัพย์แห่งประเทศไทย. (2565). ผลการศึกษาพฤติกรรมการวางแผนทางการเงินและการออมเพื่อวัยเกษียณของคนไทย. ตลาดหลักทรัพย์แห่งประเทศไทย.
สำนักงานคณะกรรมการกำกับหลักทรัพย์และตลาดหลักทรัพย์. (2562). ทำไมต้องเตรียมตัวเกษียณ. สำนักงาน ก.ล.ต. https://www. smarttoinvest.com/Pages/Invest%20For%20Retirement/Why-Prepare- For- Retirement.aspx#
สำนักงานประกันสังคม. (2562). คู่มือผู้ประกันตน: ร่วมสร้างสรรค์สังคมแรงงานที่มีหลักประกันตนถ้วนหน้าอย่างยั่งยืน. สำนักงานประกันสังคม. https://www.oic.go.th/FILEWEB/CABINFOCENTER2/DRAWER056/GENERAL/DATA0000/00000578.PDF
Baptiste, N. R. (2008). Tightening the link between employee wellbeing at work and performance: A new dimension for HRM. Management decision, 46(2), 284-309.
Bentler, P. M., & Chou, C. P. (1987). Practical issues in structural modeling. Sociological methods & research, 16(1), 78-117.
Chulalongkorn University. (2022). ประวัติจุฬาลงกรณ์มหาวิทยาลัย. https://www.chula.ac.th/about/overview/history/
Cochran, W. G. (1977). Sampling techniques (3rd ed.) John Wiley & Sons.
Cohen, S., & Wills, T. A. (1985). Stress, social support, and the buffering hypothesis. Psychological Bulletin, 98(2), 310-357.
Comrey, A. L., & Lee, H. B. (2013). A first course in factor analysis. Psychology press.
Cortina, J. M. (1993). What is coefficient alpha? An examination of theory and applications. Journal of applied psychology, 78(1), 98-104.
Creswell, J. W., & Clark, V. P. (2011). Designing and conducting mixed methods research (2nd ed.). Sage.
Ekerdt, D. J. (1986). The busy ethic: Moral continuity between work and retirement. The Gerontologist, 26(3), 239-244.
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of marketing research, 18(1), 39-50.
Giddens, A., Duneier, M., Appelbaum, R., & Carr, B. (2009). Introduction to sociology. WW Norton & Company.
Hair Jr, J. F., Matthews, L. M., Matthews, R. L., & Sarstedt, M. (2017). PLS-SEM or CB-SEM: updated guidelines on which method to use. International Journal of multivariate data analysis, 1(2), 107-123.
Huber, M., Knottnerus, J. A., Green, L., Van Der Horst, H., Jadad, A. R., Kromhout, D., ... & Smid, H. (2011). How should we define health?. British Medical Journal, 343.
Kabat-Zinn, J. (2003). Mindfulness-based interventions in context: Past, present, and future. Clinical Psychology: Science and Practice, 10(2), 144-156.
Kapoor, J. R., Dlabay, L. R., & Hughes, R. J. (2018). Personal finance (13th ed.). McGraw-Hill Education.
Kline, R. B. (2023). Principles and practice of structural equation modeling. Guilford.
Lazarsfeld, P. F., & Kornhauser, A. (1935). The analysis of consumer actions. In P. F. Lazarsfeld & M. Rosenberg (Eds.), The language of social research (pp. 392-404). Free Press.
Lusardi, A., & Mitchell, O. S. (2007). Financial literacy and retirement planning: New evidence from the RAND American Life Panel (Michigan Retirement Research Center Research Paper No. WP 2007-157). Michigan Retirement Research Center, University of Michigan.
Lusardi, A., & Mitchell, O. S. (2014). The economic importance of financial literacy: Theory and evidence. Journal of economic literature, 52(1), 5-44.
Moen, P., Erickson, M. A., & Dempster-McClain, D. (2000). Social role identities among older adults in a continuing care retirement community. Research on Aging, 22(5), 559-579.
Ng, S., & Wong, K. (2020). Social participation and family dynamics in retirement: The impact on life satisfaction. Journal of Aging and Social Policy, 32(1), 22-38.
Smith, M., & Li, X. (2018). The role of community respect and family support in post-retirement well-being. Journal of Retirement Studies, 10(4), 120-133.
Thompson, W. R., & Morrow, J. R. (2015). The importance of planning for post-retirement quality of life. In Handbook of life transitions and quality of life (pp. 90-105). Oxford University Press.
van der Meulen Rodgers, Y., Zveglich Jr, J. E., Ali, K., & Xue, H. (2025). The role of family support in the well-being of older people: Evidence from Malaysia and Viet Nam. Journal of Asian economics, 98, 101937.
Wilkinson, R., & Pickett, K. (2011). The spirit level: Why greater equality makes societies stronger. Bloomsbury.
World Health Organization. (2010). Global recommendations on physical activity for health. World Health Organization.
World Health Organization. (2023). Thailand aging population and quality of life. World Health Organization.
