ISSN: 2222-6990
Open access
Financial planning especially for football players is important as these group are exposed to injury risk while playing and may interrupt the cashflow of the income. In this view, the study is performed to identify the levels of financial planning, financial behaviour and retirement preparedness among Malaysian professional football players and the influences on retirement preparedness. A quantitative and cross-sectional survey method was imposed in this study. The population was the professional football players in Malaysia registered with football clubs. A simple random sample was used to sample a minimum of 64 football players that plays in leagues. The respondents were obtained through registered members with the sport clubs and is a professional player. A total of 300 self-administered questionnaires were distributed at the clubs through the liasion officers and obtained 77 usable questionnaires. The result shows that financial planning was a significant factor on retirement preparedness together with EPF as the retirement income in the first model using hierarchical regressions. While in the second model including financial behaviour, the behaviour emerged as the most significant factor influencing retirement preparedness followed by financial planning. In addition, their EPF income intended for their retirement was also significant. Thus, it is important to do proper financial activities to result in future financial preparedness.
Altfest, L. (2004). Personal financial planning: Origins, development and a plan for future direction. American Economist, 48(2), 53-60.
Blazevic, V., & Lievens, A., (2004). Learning during the new financial service innovation process: Antecedents and performance effects. Journal of Business Research, 57(4), 374-391.
Dillman, D. A. (2000). Mail and internet surveys: The tailored design method. Wiley.
French, D., & McKillop, D. (2017). The impact of debt and financial stress on health in Northern Irish households. Journal of European Social Policy, 27(5), 458-473.
Hilgert, M. A., & Hogarth, J. M. (2003). Household financial management: The connection between knowledge and behavior. Federal Reserve Bulletin, 309-322.
Husniyah, A. R., Fazli, M. S., Norhasmah, S., Amim, M. O., Norhafifah, S., & Farwizah, F. M. R. (2017). Financial practices and physical health influencing financial health of Malaysian employees. Malaysian Journal of Consumers and Family Economics, 20(Special Edition), 1-20.
Husniyah, A. R., Fazli, M. S., & Hariza, A. H. (2005). Gelagat perancangan kewangan keluarga di Malaysia. Malaysian Journal of Consumer and Family Economics, 8, 27-39.
Idris, F. H., Krishnan, K. S. D., & Azmi, N. (2013). Relationship between financial literacy and financial distress among youths in Malaysia - An empirical study. Malaysian Journal of Society and Space, 9(4), 106-117.
Jabatan Insolvensi Malaysia. (2018). Laporan kebankrapan. Jabatan Insolvensi Malaysia.
Jabatan Statistik Malaysia. (2017). Kajian perbelanjaan isi rumah. Jabatan Statistik Malaysia.
Kapoor, J. R., Dlabay, L. R., & Hughes, R. J. (2004). Personal finance. McGraw Hill.
Kyle, C., Joshua, K., Annamaria, L., & Colin, F. C. (2015). Bankruptcy Rates among NFL Players with Short-Lived Income Spikes. American Economic Review: Papers & Proceedings 2015, 105(5): 381–384.
Fazli, M. S., & Jariah, M. (2003). Financial behaviour and problems among students in Malaysia. Paper presented in the Eighth MACFEA Conference 2003, Universiti Putra Malaysia, Serdang.
Amim, M. O., Ab. Mumin, A. G., & Husniyah, A. R. (2017). Mediation effect of Islamic financial planning intention in the behaviour framework of Malaysian public workers. Malaysian Journal of Consumer and Family Economics, 20, 174-189.
Mokhtar, N., & Rahim, H. A. (2016). Determinants of employee perception on financial well-being in Putrajaya. Malaysian Journal of Consumer and Family Economics, 19, 25-48.
Nurizan, Y., T. Aizan, T. H., & Norisma A. I. (2004). Persediaan menghadapi persaraan di kalangan kakitangan sektor awam. Malaysian Journal of Family Studies, 1(1), 70-82.
O’Neill, B., Xiao, J. J., Sorhaindo, B., & Garman, E. T. (2005). Financial distressed consumers: Their financial practices, financial well-being, and health. Financial Counseling and Planning, 16(1), 73-87.
Rumaya, J., & Aini, S. Q. S. (2020), Financial stress, marital communication and marital health among married individuals. International Journal of Social Science Research, 2(1), 88-96.
Ryan, T. P. (2013). Sample size determination and power. Wiley.
Sweet, E., Nandi, A., Adam, E. K., & McDade, T. W. (2013). The high price of debt: Household financial debt and its impact on mental and physical health. Social Science & Medicine, 91, 94-100.
Tuan, H. N., Woan, Y. T., Nya, L. T., & Ying, S. L. (2011). Influence of investment experience and demographic factors on retirement planning intention. International Journal of Business and Management, 6(2).
Vaghefi, N., Kari, F., & Talib, M. A. (2016). Poverty and income replacement profile among EPF retiree in Malaysia. Social Indicators Research, 1-4. https://doi.org/10.1007/s11205-016-1326-1
Van Dalen, P. H., Henkens, K., & Hershey, D. A. (2010). Perceptions and expectations of pension savings adequacy: A comparative study of Dutch and American workers. Ageing and Society, 30(5), 731-754.
In-Text Citation: (Imran et al., 2021)
To Cite this Article: Imran, N. A., Othman, M. A., Rahim, H. A., & Sabri, M. F. (2021). Influence of Financial Behaviour on the Retirement Preparedness among Malaysian Professional Football Players. International Journal of Academic Research in Business and Social Sciences, 11(12), 682-695.
Copyright: © 2021 The Author(s)
Published by HRMARS (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode