RETIREMENT PLANNING AND GRACEFUL AGEING: THE ROLE OF EDUCATION
Keywords:
Ageing; Education; Graceful; Planning; Retirement; Role
Abstract
This paper explores the critical role of education in promoting effective retirement planning and graceful ageing, emphasizing the importance of early financial literacy, lifelong learning, and active engagement in retirement. It highlights how early education in financial management sets the foundation for a secure retirement, while lifelong learning supports cognitive health, emotional well-being, and social engagement in later years. It also addresses the barriers to effective retirement education, such as limited access and the complexity of financial concepts, and proposes solutions including expanded access to educational resources, simplified financial education, and continuous engagement throughout life. When enhancing retirement education and promoting active, intellectually engaged lifestyles, individuals can achieve a more secure and fulfilling retirement, contributing to overall well-being and societal resilience.
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References
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Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44. https://doi.org/10.1257/jel.52.1.5
Madrian, B. C. (2014). Applying Insights from Behavioral Economics to Policy Design. Annual Review of Economics, 6(1), 663-688. https://doi.org/10.1146/annurev-economics-080213-041033
Morrow-Howell, N., Hinterlong, J., Rozario, P. A., & Tang, F. (2003). Effects of Volunteering on the Well-Being of Older Adults. The Journals of Gerontology Series B: Psychological Sciences and Social Sciences, 58(3), S137-S145. https://doi.org/10.1093/geronb/58.3.S137
Rebok, G. W., Ball, K., Guey, L. T., Jones, R. N., Kim, H. Y., King, J. W., ... & Willis, S. L. (2014). Ten-Year Effects of the Advanced Cognitive Training for Independent and Vital Elderly Cognitive Training Trial on Cognition and Everyday Function. Journal of the American Geriatrics Society, 62(1), 16-24. https://doi.org/10.1111/jgs.12607
Rebok, G. W., Ball, K., Guey, L. T., Jones, R. N., Kim, H. Y., King, J. W., ... & Willis, S. L. (2014). Ten-Year Effects of the Advanced Cognitive Training for Independent and Vital Elderly Cognitive Training Trial on Cognition and Everyday Function. Journal of the American Geriatrics Society, 62(1), 16-24. https://doi.org/10.1111/jgs.12607
Thang, L. L. (2009). Promoting Intergenerational Understanding Between the Young and Old: The Case of Singapore. Journal of Intergenerational Relationships, 7(1), 17-33. https://doi.org/10.1080/15350770802629051
World Health Organization (WHO). (2015). World report on ageing and health. WHO Press. https://www.who.int/publications/i/item/9789241565042
Benartzi, S., & Thaler, R. H. (2013). Behavioral Economics and the Retirement Savings Crisis. Science, 339(6124), 1152-1153. https://doi.org/10.1126/science.1231320
Bherer, L., Erickson, K. I., & Liu-Ambrose, T. (2013). A Review of the Effects of Physical Activity and Exercise on Cognitive and Brain Functions in Older Adults. Journal of Aging Research, 2013, 1-8. https://doi.org/10.1155/2013/657508
Bherer, L., Erickson, K. I., & Liu-Ambrose, T. (2013). A Review of the Effects of Physical Activity and Exercise on Cognitive and Brain Functions in Older Adults. Journal of Aging Research, 2013, 1-8. https://doi.org/10.1155/2013/657508
Carstensen, L. L., & Hartel, C. R. (Eds.). (2006). When I'm 64. The National Academies Press. https://doi.org/10.17226/11474
Chodzko-Zajko, W. J., Proctor, D. N., Fiatarone Singh, M. A., Minson, C. T., Nigg, C. R., Salem, G. J., & Skinner, J. S. (2009). Exercise and Physical Activity for Older Adults. Medicine & Science in Sports & Exercise, 41(7), 1510-1530. https://doi.org/10.1249/MSS.0b013e3181a0c95c
Clark, R. L., Lusardi, A., & Mitchell, O. S. (2017). Employee Financial Literacy and Retirement Plan Behavior: A Case Study. Economic Inquiry, 55(1), 248-259. https://doi.org/10.1111/ecin.12389
Cohen, G. D., Perlstein, S., Chapline, J., Kelly, J., Firth, K. M., & Simmens, S. (2006). The Impact of Professionally Conducted Cultural Programs on the Physical Health, Mental Health, and Social Functioning of Older Adults. The Gerontologist, 46(6), 726-734. https://doi.org/10.1093/geront/46.6.726
Everard, K. M., Lach, H. W., Fisher, E. B., & Baum, M. C. (2000). Relationship of Activity and Social Support to the Functional Health of Older Adults. The Journals of Gerontology Series B: Psychological Sciences and Social Sciences, 55(4), S208-S212. https://doi.org/10.1093/geronb/55.4.S208
Fisher, P. J., & Montalto, C. P. (2010). Financial Literacy and Retirement Planning: Evidence from the 2008 Consumer Financial Literacy Survey. Family and Consumer Sciences Research Journal, 39(1), 64-75. https://doi.org/10.1111/j.1552-3934.2010.02043.x
Fratiglioni, L., Paillard-Borg, S., & Winblad, B. (2004). An Active and Socially Integrated Lifestyle in Late Life Might Protect Against Dementia. The Lancet Neurology, 3(6), 343-353. https://doi.org/10.1016/S1474-4422(04)00767-7
Fratiglioni, L., Paillard-Borg, S., & Winblad, B. (2004). An Active and Socially Integrated Lifestyle in Late Life Might Protect Against Dementia. The Lancet Neurology, 3(6), 343-353. https://doi.org/10.1016/S1474-4422(04)00767-7
Krause, N. (2004). Lifetime Trauma, Emotional Support, and Life Satisfaction Among Older Adults. The Gerontologist, 44(5), 615-623. https://doi.org/10.1093/geront/44.5.615
Krause, N. (2004). Lifetime Trauma, Emotional Support, and Life Satisfaction Among Older Adults. The Gerontologist, 44(5), 615-623. https://doi.org/10.1093/geront/44.5.615
Lusardi, A. (2019). Financial Literacy and the Need for Financial Education: Evidence and Implications. Swiss Journal of Economics and Statistics, 155(1), 1-8. https://doi.org/10.1186/s41937-019-0027-5
Lusardi, A. (2019). Financial Literacy and the Need for Financial Education: Evidence and Implications. Swiss Journal of Economics and Statistics, 155(1), 1-8. https://doi.org/10.1186/s41937-019-0027-5
Lusardi, A. (2019). Financial Literacy and the Need for Financial Education: Evidence and Implications. Swiss Journal of Economics and Statistics, 155(1), 1-8. https://doi.org/10.1186/s41937-019-0027-5
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44. https://doi.org/10.1257/jel.52.1.5
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44. https://doi.org/10.1257/jel.52.1.5
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44. https://doi.org/10.1257/jel.52.1.5
Madrian, B. C. (2014). Applying Insights from Behavioral Economics to Policy Design. Annual Review of Economics, 6(1), 663-688. https://doi.org/10.1146/annurev-economics-080213-041033
Morrow-Howell, N., Hinterlong, J., Rozario, P. A., & Tang, F. (2003). Effects of Volunteering on the Well-Being of Older Adults. The Journals of Gerontology Series B: Psychological Sciences and Social Sciences, 58(3), S137-S145. https://doi.org/10.1093/geronb/58.3.S137
Rebok, G. W., Ball, K., Guey, L. T., Jones, R. N., Kim, H. Y., King, J. W., ... & Willis, S. L. (2014). Ten-Year Effects of the Advanced Cognitive Training for Independent and Vital Elderly Cognitive Training Trial on Cognition and Everyday Function. Journal of the American Geriatrics Society, 62(1), 16-24. https://doi.org/10.1111/jgs.12607
Rebok, G. W., Ball, K., Guey, L. T., Jones, R. N., Kim, H. Y., King, J. W., ... & Willis, S. L. (2014). Ten-Year Effects of the Advanced Cognitive Training for Independent and Vital Elderly Cognitive Training Trial on Cognition and Everyday Function. Journal of the American Geriatrics Society, 62(1), 16-24. https://doi.org/10.1111/jgs.12607
Thang, L. L. (2009). Promoting Intergenerational Understanding Between the Young and Old: The Case of Singapore. Journal of Intergenerational Relationships, 7(1), 17-33. https://doi.org/10.1080/15350770802629051
World Health Organization (WHO). (2015). World report on ageing and health. WHO Press. https://www.who.int/publications/i/item/9789241565042
Published
2024-10-24
How to Cite
Ezema-Kalu, N. (2024). RETIREMENT PLANNING AND GRACEFUL AGEING: THE ROLE OF EDUCATION. GPH-International Journal of Business Management, 7(09), 62-70. https://doi.org/10.5281/zenodo.13985693
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