Yogyakarta, April 30, 2026 — Amid rising life expectancy and global economic challenges, financial preparedness for retirement has become a critical issue. However, a recent study shows that this issue is not solely about numbers, but also about psychological factors.
The study, published in the journal Campbell Systematic Reviews, comprehensively examines various psychological factors that influence financial planning behavior for retirement during productive working ages.
Zafira Rahmania Nur Shabrina, S.Psi., M.Sc., as the lead researcher together with an international research team, used a scoping review approach to map how individuals make financial decisions related to their future. The results show that cognitive abilities, underlying motivation and intentions, as well as structural support from the environment, play important roles in an individual’s retirement planning.
Furthermore, the study highlights that many individuals fail to plan long-term finances not due to a lack of information, but because of psychological barriers such as procrastination tendencies, excessive optimism, or difficulty in imagining the future. The study also identifies research gaps, particularly regarding cultural contexts and specific occupational groups that have not been extensively examined.
These findings have important implications for governments, financial institutions, and policymakers in designing strategies that are not only based on financial literacy but also consider human behavioral aspects. With a more holistic approach, policy interventions are expected to encourage people to be better prepared for retirement while reducing the risk of economic vulnerability in old age.
Editor: Fauzi
Editor-in-chief: Zufar