PERSPECTIVES AND DYNAMICS OF RETIREMENT PLANNING: AN EMPIRICAL APPRAISAL
ABSTRACT:Personal financial planning and management is an emerging domain that is fast catching up in the Indian context. The rapidly changing global financial scenario coupled with pressing personal financial demands have brought this domain into the limelight. Further, it is a widely accepted fact that money management is a matter of great concern to both rich and poor in the wake of surging financial commitments and inflationary pressures. Personal financial management, if not planned and managed systematically, would certainly spell a formidable impact on the savings and investment of working individuals. Personal financial planning, theoretically, begins with the development of a family budget and culminates with the preparation of comprehensive retirement planning. These personal finance initiatives and preparations guard the working individuals against any unexpected financial hardships or exigencies. This paper discusses the findings of an empirical study undertaken on retirement planning in Mangalore Taluk, Karnataka State, India covering 100 respondents.