Financial Anxiety and Money Attitude in Influencing Retirement Planning through Future Financial Self-Continuity among Millennial Workers

Marsiska Ariesta Putri; Prihati Prihati; Ika Susanti

doi:10.61132/jukerdi.v3i3.1552

Authors

Marsiska Ariesta Putri Institut Teknologi dan Bisnis Semarang
Prihati Prihati Institut Teknologi dan Bisnis Semarang
Ika Susanti Institut Teknologi dan Bisnis Semarang

DOI:

https://doi.org/10.61132/jukerdi.v3i3.1552

Keywords:

Financial Anxiety, Future Financial Self-Continuity, Millennial Workers, Money Attitude, Retirement Planning

Abstract

Retirement planning has become increasingly important for millennial workers who face financial uncertainty, competing financial priorities, and growing individual responsibility for future financial security. This study examines the effects of financial anxiety and money attitude on retirement planning through future financial self-continuity. A quantitative explanatory approach was employed using data from 200 millennial workers with regular employment or income who had not yet reached retirement age. Respondents were selected through purposive sampling, and data were collected using a five-point Likert-scale questionnaire. The proposed relationships were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that financial anxiety negatively affects future financial self-continuity and retirement planning, whereas money attitude positively affects both constructs. Future financial self-continuity positively influences retirement planning and partially mediates the effects of financial anxiety and money attitude on retirement planning. The model explains 61.7% of the variance in retirement planning. These findings highlight the importance of reducing financial anxiety, developing constructive money attitudes, and strengthening individuals’ psychological connection with their future financial selves to encourage sustainable retirement preparation among millennial workers.

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