The Expected Retirement Lifestyle in Malaysia
Abstract
When people are young, they try to earn as much money as possible for their and their family life. After the hard work to make money, people become old, and their productivity gets lower, and this is the time for them to retire and enjoy the following relaxing lifetime. But currently, the environment is so bad due to the Covid-19 pandemic. The affection of the pandemic is that many people are losing their jobs, and income is reducing. As a result, the people's revenue declined, which may significantly affect people's lifestyles and savings. Therefore, this paper examines the relationship between financial status, happiness, quality of life, and lifestyle in Malaysia during the Covid-19 pandemic. Although this paper is only a conceptual paper, the expected outcome for this study is that there are positive relationships between financial status, happiness, quality of life, and lifestyle. Throughout this study, it may provide general public awareness to provide their quality of life and lifestyle by understanding more information.
References
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Mashud. M., Mediaty. M., and Pontoh. G. T. 2021. The Effect of Financial Literature, Lifestyle and Income of Parents on Student Financial Management Behavior. Journal of International Conference Proceedings, 4(3), 256-264.
Senasu. K. anf Singhapakdi. A. 2017. Quality-of-Life Determinants of Happiness in Thailand: the Moderating Roles of Mental and Moral Capacities. Applied Research in Quality of Life, 13(1), 59–87. doi:10.1007/s11482-017-9506-y
Policastro, Christina N. 2013. Victimization of the Elderly: An Application of Lifestyles/Routine Activities Theory. Doctoral dissertation, Georgia State University.
Sekararum. P. C., Wulandari. D. and Narmaditya. B. S. 2020. Financial Literacy and lifestyle among Housewives. In Proceedings of the 2nd International Research Conference on Economics and Business (IRCEB 2018), pages 262-266. DOI: 10.5220/0008786302620266
Smith. E. O., Goodwin. S., Ziegler. M. and Greenwalt. K. 2018. Aging and the Art of Happiness: Time Effects of A Positive Psychology Program with Older Adults. OBM Geriatrics, 3(1), doi:10.21926/obm.geriatr.1901029
Veenhoven. R. 2011. Happiness: Also Known as "Life Satisfaction" and "Subjective Well-Being." Handbook of Social Indicators and Quality of Life Research, 63–77. doi:10.1007/978-94-007-2421-1_3
Veenhoven, R. 1991. Is happiness relative? Social Indicators Research, 24(1), 1-34. < https://www.jstor.org/stable/27520861>
Ventegodt. S. and Merrick. J. 2003. Lifestyle, Quality of Life, and Health. The Scientific World Journal, 3, 811–825. doi:10.1100/tsw.2003.60
Ventegodt. S., Merrick. J., and Andersen. N. J. 2003. Quality of Life Theory I. The IQOL Theory: An Integrative Theory of the Global Quality of Life Concept. The Scientific World Journal, 3, 1030–1040. doi:10.1100/tsw.2003.82
Ventegodt. S., Merrick. J., and Andersen. N. J. 2003. Quality of Life Theory II. Quality of Life as the Realization of Life Potential: A Biological Theory of Human Being. The Scientific World Journal, 3, 1041–1049. doi:10.1100/tsw.2003.83
Ventegodt. S., Merrick. J., and Andersen. N. J. 2003. Quality of Life Theory III. Maslow Revisited. The Scientific World Journal 3, 1050–1057. doi:10.1100/tsw.2003.84
Ward. S. J., and King. L. A. 2017. Exploring the place of financial status in the good life: Income and meaning in life. The Journal of Positive Psychology, 2017, pages 1-12. doi:10.1080/17439760.2017.1402075
Xiao, J.J. 2008. Applying Behavior Theories to Financial Behavior. In 5 (Ed.), Handbook of Consumer Finance Research, pp: 69-82: Springer.
Xiao. J.J., Sorhaindo. B. and Garman. E. T., 2006. Financial behaviours of consumers in credit counseling. International Journal of Consumer Studies, 30(2), 108-121.
Zaninotto, P., Falaschetti, E., and Sacker, A. 2009. Age trajectories of quality of life among older adults: results from the English Longitudinal Study of Ageing. Quality of Life Research, 18(10), 1301–1309. doi:10.1007/s11136-009-9543-6
Aljohani. A. M. and Al-Zalabani. A. H. 2021. Lifestyle factors and quality of life among primary health care physicians in Madinah, Saudi Arabia. Saudi Journal of Biological Sciences. doi:10.1016/j.sjbs.2021.04.087
Andrews, F. M., and Withey, S. B. 1976. Social indicators of well-being: America's perception of life quality. New York: Plenum Press.
Archuleta, K. L., Dale, A., and Spann, S. M. 2013. College students and financial distress: Exploring debt, financial satisfaction, and financial anxiety. Journal Financial Counseling and Planning, 24(2), 50-62.
Bowling, A., and Stenner, P. 2010. Which measure of quality of life performs best in older age? A comparison of the OPQOL, CASP-19 and WHOQOL-OLD. Journal of Epidemiology & Community Health, 65(3), 273–280. doi:10.1136/jech.2009.087668
Çakir. G., and Kalkavan. A. 2020. The Relationship Between Healthy Lifestyle Behaviors and Quality of Life: An Analysis on University Students Who are Engaged in Sports and Who are Not.
European Journal of Physical Education and Sport Science, 6(5).
Campbell, A., Converse, P. E., and Rodgers, W. L. 1976. The quality of American life. New York: Russell Sage Foundation.
Debra S. Dwyer and Hu, J. T. 2000. Retirement Expectation and Realizations: The Role of Health Shock and Economic Factors. Pension Research Council Working Papers 98-18, Wharton School Pension Research Council, University of Pennsylvania.
Diener, E., Horwitz, J., and Emmons, R. A. 1985. Happiness of the very wealthy. Social Indicators Research, 16, 263–274.
Diener, E., Sandvik, E., Pavot, W., and Fujita, F. 1993. The relationship between income and subjective well-being: Relative or absolute? Social Indicators Research, 28(3), 195–223.
Diener, E. 1984. Subjective well-being. Psychological Bulletin, 95(3), 542–575.
Di Tella, R., MacMulloch, R. J., and Oswald, A. J. 2001. Preferences over inflation and employment: Evidence from surveys of happiness. American Economic Review, 91(1), 335–341.
Diener, E., and Oishi, S. 2000. Money and happiness: Income and subjective well-being across nations. In E. Diener & E. Suh (Eds.), Culture and subjective well-being (pp. 185–218). Cambridge, London: MIT Press.
Diener, E., and Fujita, F. 1995. Resources, personal strivings, and subjective well-being: A nomothetic and idiographic approach. Journal of Personality and Social Psychology, 68, 926–935.
Drentea, P. 2000. Age, debt and anxiety. Journal of Health and Social Behavior, 41(4), 437-450.
Duan, Y., Peiris, D, L, I, H, K., Yang, M., Liang, W., Baker, J, S., Hu, C. and Shang, B. 2021. Lifestyle Behaviors and Quality of Life Among Older Adults After the First Wave of the COVID-19 Pandemic in Hubei China. Frontiers in Public Health 9:744514. doi: 10.3389/fpubh.2021.744514
Easterlin, R. 2003. Explaining happiness. PNAS, 10(19), 11176–11183.
Employees Provident Fund. 2019. Annual Report 2019 [Online]. Available at: https://www.kwsp.gov.my/annualreport2019/download/en/full.pdf (Accessed: 15 December 2021)
Foster, B., Sukono, and Johansyah, M.D. 2022. Analysis of the Effect of Financial Literacy, Practicality, and Consumer Lifestyle on the Use of Chip-Based Electronic Money Using SEM. Viewed on 24 February 2022.
Garman, E. T. and Forgue, R. E. 1997. Personal finance (5th ed.). Boston: Houghton Mifflin.
Gutter, M., and Copur, Z. 2011. Financial behaviors and financial well-being of college students: Evidence from a national survey. Journal of Family and Economic Issues, 32(4), 699- 714.
Hindelang. M. J., Gottfredson. M. R. and Garofalo. J. 1978. Victims of personal crime: An empirical foundation for a theory of personal victimization. Cambridge, MA: Harvard University Press.
Ikeda. T., Igarashi. A., Odani, S., Murakami. M. and Tabuchi. T. 2021. Health-Related Quality of Life during COVID-19 Pandemic: Assessing Impacts of Job Loss and Financial Support Programs in Japan. Applied Research Quality Life. https://doi.org/10.1007/s11482-021-09918-6
Kim, J., Garman, E. T., and Sorhaindo, B. 2003. Relationships among credit counseling, financial well-being and health. Consumer Interests Annual, 49, 1-12.
Ko. H. C., Wang. L. L., and Xu. Y. T. (2013). Understanding the Different Types of Social Support Offered by Audience to A-List Diary-Like and Informative Bloggers. Cyberpsychology, Behavior, and Social Networking, 16(3), 194–199. doi:10.1089/cyber.2012.0297
Lunt. P. K., and Livingstone. S. M. 1991. Psychological, social and economic determinants of saving: comparing recurrent and total savings. Journal of Economic Psychology, 12(4), 621–641. doi:10.1016/0167-4870(91)90003-c
Mashud. M., Mediaty. M., and Pontoh. G. T. 2021. The Effect of Financial Literature, Lifestyle and Income of Parents on Student Financial Management Behavior. Journal of International Conference Proceedings, 4(3), 256-264.
Senasu. K. anf Singhapakdi. A. 2017. Quality-of-Life Determinants of Happiness in Thailand: the Moderating Roles of Mental and Moral Capacities. Applied Research in Quality of Life, 13(1), 59–87. doi:10.1007/s11482-017-9506-y
Policastro, Christina N. 2013. Victimization of the Elderly: An Application of Lifestyles/Routine Activities Theory. Doctoral dissertation, Georgia State University.
Sekararum. P. C., Wulandari. D. and Narmaditya. B. S. 2020. Financial Literacy and lifestyle among Housewives. In Proceedings of the 2nd International Research Conference on Economics and Business (IRCEB 2018), pages 262-266. DOI: 10.5220/0008786302620266
Smith. E. O., Goodwin. S., Ziegler. M. and Greenwalt. K. 2018. Aging and the Art of Happiness: Time Effects of A Positive Psychology Program with Older Adults. OBM Geriatrics, 3(1), doi:10.21926/obm.geriatr.1901029
Veenhoven. R. 2011. Happiness: Also Known as "Life Satisfaction" and "Subjective Well-Being." Handbook of Social Indicators and Quality of Life Research, 63–77. doi:10.1007/978-94-007-2421-1_3
Veenhoven, R. 1991. Is happiness relative? Social Indicators Research, 24(1), 1-34. < https://www.jstor.org/stable/27520861>
Ventegodt. S. and Merrick. J. 2003. Lifestyle, Quality of Life, and Health. The Scientific World Journal, 3, 811–825. doi:10.1100/tsw.2003.60
Ventegodt. S., Merrick. J., and Andersen. N. J. 2003. Quality of Life Theory I. The IQOL Theory: An Integrative Theory of the Global Quality of Life Concept. The Scientific World Journal, 3, 1030–1040. doi:10.1100/tsw.2003.82
Ventegodt. S., Merrick. J., and Andersen. N. J. 2003. Quality of Life Theory II. Quality of Life as the Realization of Life Potential: A Biological Theory of Human Being. The Scientific World Journal, 3, 1041–1049. doi:10.1100/tsw.2003.83
Ventegodt. S., Merrick. J., and Andersen. N. J. 2003. Quality of Life Theory III. Maslow Revisited. The Scientific World Journal 3, 1050–1057. doi:10.1100/tsw.2003.84
Ward. S. J., and King. L. A. 2017. Exploring the place of financial status in the good life: Income and meaning in life. The Journal of Positive Psychology, 2017, pages 1-12. doi:10.1080/17439760.2017.1402075
Xiao, J.J. 2008. Applying Behavior Theories to Financial Behavior. In 5 (Ed.), Handbook of Consumer Finance Research, pp: 69-82: Springer.
Xiao. J.J., Sorhaindo. B. and Garman. E. T., 2006. Financial behaviours of consumers in credit counseling. International Journal of Consumer Studies, 30(2), 108-121.
Zaninotto, P., Falaschetti, E., and Sacker, A. 2009. Age trajectories of quality of life among older adults: results from the English Longitudinal Study of Ageing. Quality of Life Research, 18(10), 1301–1309. doi:10.1007/s11136-009-9543-6
Published
2022-11-01
How to Cite
JUN YIN, Yong; SHYUE CHUAN, Chong; CHIA YIEN, Lim.
The Expected Retirement Lifestyle in Malaysia.
Asian Journal of Behavioural Sciences, [S.l.], v. 4, n. 3, p. 48-59, nov. 2022.
ISSN 2710-5865.
Available at: <https://myjms.mohe.gov.my/index.php/ajbs/article/view/20091>. Date accessed: 19 sep. 2024.
Section
Articles
