The RiskTole Model for Future Financial Inclusion-Literacy?

  • Khoong Tai Wai Tunku Abdul Rahman University of Management and Technology (TARUMT)


Without proper planning, individual face financial hardship when reach golden age. Financial planning is a dynamic scenario, whereby complex integration both external setting and internal consideration. Therefore, academician and practitioners confront challenge to comprehensive framework integration. This study intent to develop an inclusive framework, in which integrate financial planning and behaviour, to accommodates human-life cycle objectives. This study data collection used mixed method convergent design multiple sources. To support the development of RiskTole framework, model consists of financial planning, hierarchy of needs, and financial behaviour model is being discussed. The framework incorporates three elements, namely time period, anticipated events, and risk tolerance. The framework includes two layer, whereby inner layer includes four core assets (asset management, protection, accumulation and distribution), subsequent identify of six financial planning areas. Outer layer layout financial decision choice for the planning. Finally, four supplement recommendations by respondents, comprises rebalancing EPF-collateral profit rate, financing repayment incremental, bi-weekly operation transaction, and sinking fund creation. The framework offers originality by providing body of knowledge from new dimension, and support Sustainable Development Goals 2023 financial inclusion initiative. Nevertheless, the success implementation entails public and private long-term support, accessibility inclusion of proper financial tools, and knowledgeable practitioner to serve.


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How to Cite
TAI WAI, Khoong. The RiskTole Model for Future Financial Inclusion-Literacy?. International Journal of Advanced Research in Economics and Finance, [S.l.], v. 6, n. 1, p. 53-69, mar. 2024. ISSN 2682-812X. Available at: <>. Date accessed: 23 may 2024.
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