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Managing money and retirement planning: Academics' perspectives


  • Ming-Ming Lai
  • Ming-Ling Lai
  • Siok-Hwa Lau


This paper examines money attitudes and associated retirement issues of academics in higher education in Malaysia. Systematic random sampling was used in selecting the target respondents. A questionnaire was personally administered on 458 academics in 16 universities in Malaysia. The survey found that academics exhibited positive attitudes toward money, and income appears to be the prime motivator. Consistent with the findings of prior studies, position, age and educational levels were strong indicators of an academic's annual income. The survey found that female academics and those from public universities had more positive attitudes towards retirement. In retirement planning, the respondents considered the availability of other income after retirement the most important factor, while payment for children's education was the key potential conflict area. The findings provide important insights for the top management of higher education of the necessity of pre-retirement counseling and assistance to ease the passage to retirement for academics.

Suggested Citation

  • Ming-Ming Lai & Ming-Ling Lai & Siok-Hwa Lau, 2009. "Managing money and retirement planning: Academics' perspectives," EconStor Open Access Articles, ZBW - German National Library of Economics, pages 282-292.
  • Handle: RePEc:zbw:espost:56762

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    References listed on IDEAS

    1. Wood, Lisa & Giles-Corti, Billie & Bulsara, Max, 2005. "The pet connection: Pets as a conduit for social capital?," Social Science & Medicine, Elsevier, vol. 61(6), pages 1159-1173, September.
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    3. Johannes Schwarze & Hanfried H. Andersen & Silke Anger, 2000. "Self-Rated Health and Changes in Self-Rated Health as Predictors of Mortality: First Evidence from German Panel Data," Discussion Papers of DIW Berlin 203, DIW Berlin, German Institute for Economic Research.
    4. Bruce Headey, 1999. "Health Benefits and Health Cost Savings Due to Pets: Preliminary Estimates from an Australian National Survey," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 47(2), pages 233-243, June.
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    money; pension; retirement; academics; aging; higher education;


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