Financial Planning for the Retirement Stability of Personnel at Loei Rajabhat University

Abstract

The objectives of this study were to study 1) Opinions on financial planning for stability in retirement 2) Compare and contrast financial planning for stability in retirement with personal information and 3) Compare the difference between financial planning practices to ensure retirement security and personal information. The sample population was 297 Loei Rajabhat University personnel, collected using a questionnaire. Statistics used to analyze data are frequency values, percentage values, arithmetic mean values, standard deviation values, and testing for differences according to assumptions using t-statistics. One-way analysis of variance; Multiple regression statistics; and if the analysis finds differences, they will be compared in pairs using the LSD method.    

The results were : The majority of the sample were female. Age range between 30-39 years, marital status. living with family, having 4 or more members living together, having the burden of caring for 1-2 family members, being academic personnel, receiving a salary/wage from the national budget, having an income of approximately 20,000-30,000 baht/month, having a master's degree, belonging to the office of the president, having debts and expenses such as car installment payments, house payments, and loans to build a residence. credit card installment payments and personal loans, etc. There is no plan for health insurance. But planning to get life insurance and are interested in following the news or participating in a training seminar on finance.

There is a level of opinion on financial planning for security in retirement. Overall, it is at a moderate level. And when considering each issue, it was found that setting goals in life at a high level of knowledge and understanding, return expectation, risk acceptance, financial evaluation and alternative sources of income are at a moderate level, respectively, and the level of practice in financial planning to create stability in retirement overall is at a moderate level. Personal information such as age range, type of personnel, and having different types of life insurance affects financial planning behavior for retirement and gives importance to factors in each area, including setting goals in life, knowledge and understanding about financial preparation, acceptance of risk, expectation of return, and evaluation of financial status. And in terms of alternative sources of income, they are different, with statistical significance at the 0.05 level.