Key Determinants of Retirement Financial Planning in Thailand

Abstract

This study examines the key factors affecting financial planning for retirement among Thai citizens. The research aims to analyze how Thai individuals prepare for their retirement, evaluate the impact of personal factors—such as gender, age, marital status, education, occupation, geographic location, and income—on financial planning, and identify the factors that significantly shape financial preparedness for retirement. A sample of 200 Thai citizens aged 20 and above was surveyed using structured questionnaires. The findings reveal that the majority of respondents were female, aged between 20 and 30, single, and holding a bachelor's degree. Most participants reported an income range of 15,001–20,000 Baht and were employed in corporate roles. The study further highlights how personal factors, particularly age, influence financial decisions related to post-retirement living expenses, medical costs, travel budgets, and savings channels. These insights underscore the need for greater financial literacy and structured retirement planning to enhance long-term financial security among Thai citizens.