Year: 2024
Type: article
Abstract: In the framework of retirement planning, this conceptual study investigates the connection between risk management and financial literacy. Acquiring the knowledge and abilities required to make well-informed retirement planning decisions is largely dependent on financial literacy. It draws attention to the ways that financial literacy affects people's capacity to recognise, evaluate, and reduce retirement-related financial risks. This paper summarises the theoretical foundations of retirement planning, investigates the influence on risk perception and decision-making, and suggests strategies for improving risk management through financial literacy to enhance retirement outcomes by synthesising the body of available evidence.
Authors: Anu Eappen, Dr.Rekha Venugopal
Institution: Lovely Professional University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405550926