Abstract
One of the ways to plan for a retirement plan is by setting a part of the income or funds owned for future life purposes. Retirement planning for families is carried out so that the finances remain stable when entering retirement. This research aims to determine the effect of future orientation and financial literacy on family retirement planning is mediated by saving attitude. The sample in the research is families in the city of Surabaya. The data used in this research are the primary results of questionnaires with 200 samples and data analysis techniques using SEM-PLS. The results of this research indicate future orientation and financial literacy has a positive effect on family retirement planning and been mediated by saving attitude in city of Surabaya
Highlights
The industrial revolution 4.0 which is marked by digitalization, automation, and artificial intelligence makes everything in human life turn into a digital, completely automated, and information is so easy to find it
The results of this study suggest that the attitude variable on finance has a positive effect on pension fund planning and the variable family socialization, anxiety, and religiosity has a positive effect on retirement planning, but the materialism variable has a negative effect on retirement planning
Families who have a high level of literacy will make the family more planned in planning the family pension fund
Summary
The industrial revolution 4.0 which is marked by digitalization, automation, and artificial intelligence makes everything in human life turn into a digital, completely automated, and information is so easy to find it. It will have influence on people's lifestyles that will depend on technology so that the cost of one's life in the future will require quite a high cost. According to data from the(Central Statistics Agency of the Republic of Indonesia, 2019), the Human Development Index in 2018 reached 71.39, an increase of 0.63 points compared to 2010 which was recorded at 66.53 with an average annual growth of 0.88 percent. Retiring from work as an employee does not mean that someone stops working and stops productive because there is no one in this world who just wants to be quiet and not do anything at all.
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