The Behavior of Preparing for Retirement in Thailand

Abstract

This study aims to explore the behavior of preparing for retirement. The study used a questionnaire for primary data. The sample size was 400. The focus group was the ones with aged between 50 to 60 years old in Bangkok, Thailand. Data analysis applied both quantitative and qualitative methods. The data were estimated by using WAI (Weighted Average Index). The majority of sample was married female with Bachelor’s degree. Most of them were company employee with the monthly wages more than 90,000 baht per month.The behavior of preparing for retirement comprise of six sections as followings: preparing for mentalactivity; preparing for physicalactivity; preparing for assets; preparing for free-time activities; preparing for the relationship within family; preparing for housing. From these six sections, the study found that the first three sections were preparing for the relationship within the family i.e., teaching descendants respect to the elderly. The second one was preparing for housing in type of residency to rearrange the convenient location not far from community, friends and relatives. The last one was preparing for spending free-time doing activities.In this study, we test whether difference in sex, age and career had affect the behaviors preparing for retirement or not. The results showed that: female will focus on every aspects of the behaviors preparing for retirement more than male; difference in age had not affect the behaviors of preparing for retirement. The important section was the relationship within the family and the least important was the free-time activities; the private employees prepare for retirement less than other groups.