Factors Influencing Economic Preparedness for Retirement among Pre-Elderly People: A Case Study of Hua Hin District, Prachuap Khiri Khan Province
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Abstract
This research aimed to 1) examine the level of economic preparation for old age among pre-elderly residents in Hua Hin District, Prachuap Khiri Khan Province, and 2) identify factors influencing retirement economic preparedness among this population. This quantitative study collected data via an online questionnaire from a population of 40,876 working-age residents aged 35–59 years in Hua Hin District. A sample of 429 participants was determined using Yamane's formula (1973) at a 5% margin of error and selected through convenience sampling. Instrument quality was verified with an Index of Item Objective Congruence (IOC) of 0.792 and a reliability coefficient of 0.769, both within acceptable thresholds. Data were analyzed using descriptive statistics, including frequency, percentage, mean, and standard deviation, alongside inferential statistics for hypothesis testing.
The findings revealed that 1) the overall level of economic preparedness for retirement was at a high level ( = 3.49). When examined by dimension, investment readiness scored highest (
= 3.80), followed by savings and assets (
= 3.72), both at a high level, while debt management (
= 3.18) and financial protection (
= 3.08) were at a moderate level. 2) Financial attitude, financial knowledge, social support, and money management behavior collectively predicted retirement economic preparedness at 49.20% (R² = 0.492), with statistical significance at the .05 level. Financial attitude was the strongest predictor (β = 0.398), followed by financial knowledge (β = 0.325), social support (β = 0.142), and money management behavior (β = 0.105), reflecting that financial attitude is the primary driver of retirement preparedness among residents in a tourism-based economic area.
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