Exploring the Interconnected Dynamics and Long term Implications of Financial Literacy, Retirement Planning, and Household Wealth
DOI:
https://doi.org/10.46610/JESFR.2025.v06i02.005Keywords:
Financial education, Financial literacy, Household wealth, India, Personal finance, Planning for retirement, Socio economic dynamics, Stock market participation, Wealth accumulationAbstract
Financial literacy plays a pivotal role in shaping household wealth and retirement planning, particularly in emerging economies like India. This study examines the connection between wealth accumulation in Indian households, retirement planning practices, and financial literacy. Leveraging comprehensive financial literacy measures, the study highlights the impact of financial knowledge on wealth management and the critical role of retirement planning in long term financial security. By analyzing data on financial behavior, this paper provides new insights into how informed decision making can drive wealth accumulation, particularly through stock market participation and structured retirement plans. Additionally, the findings indicate the significance of focused financial education programs intended to enhance household financial outcomes, particularly in a diverse socio economic landscape such as India.
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