Financial Literacy, Future Orientation, and Retirement Planning: The Mediating Role of Consumptive Lifestyle among Public Employees
DOI:
https://doi.org/10.35334/swz7nh60Keywords:
Financial Literacy, Future Orientation, Consumptive Lifestyle, Retirement PlanningAbstract
This study examines the influence of financial literacy and future orientation on retirement planning, with a consumptive lifestyle as a mediating variable among public employees in Tarakan City. This issue is increasingly relevant as individuals face rising life expectancy and financial uncertainty in retirement. A quantitative approach was employed using a survey method. The population consisted of employees from subdistrict government agencies, with a sample of 220 respondents selected using proportionate stratified random sampling. Data were collected through a structured questionnaire using a four-point Likert scale and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that financial literacy and future orientation have a positive and significant effect on retirement planning, while both variables negatively influence consumptive lifestyle. Furthermore, consumptive lifestyle has a negative and significant effect on retirement planning and plays a significant mediating role in the relationship between financial literacy, future orientation, and retirement planning. This study contributes to the behavioral finance literature by integrating cognitive (financial literacy), psychological (future orientation), and behavioral (consumptive lifestyle) factors into a unified model. Practically, the findings provide insights for policymakers in designing financial education programs to improve retirement readiness among public sector employees.Downloads
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Copyright (c) 2026 Lendro Kurniawan, Mohamad Nur Utomo, Meylin Rahmawati (Author)
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