THE EFFECT OF FINANCIAL KNOWLEDGE AND FUTURE ORIENTATION ON THE RETIREMENT PLANNING BEHAVIOR WITH LOCUS OF CONTROL AS A MEDIATION VARIABLE

Abstract

Every people certainly want to have a peaceful and prosperous retirement without any problems without financial problems and non financial problems. Every people want to spend their retirement’s time with the usefull activities without wasting their energy and time. Therefore, there are many people have prepared their planning on retirement time. There are many factors that can affect a retirement planning behavior such as financial knowledge, future orientation and locus of control.  Based on this phenomena, this study aims to determine the influence of financial knowledge and future orientation on the retirement planning behavior with data analysis techniques used SEM PLS.The sample of this research was 321 respondents with criteria respondent is domiciled in Surabaya,Gresik and Sidoarjo, who had a minimum family income of Rp. 4,000,000, - per month, working experience minimum 2 years and as managers on financial family. Based on the research results, the financial knowledge and future orientation have positive significantly correlation to retirement planning behavior. But different result from locus of control which has negative correlation to retirement planning behavior.