Investors Perception of Financial Planning for Financial Well-Being
Published: 2024
Author(s) Name: Shilpa Sardana, Tika Ram |
Author(s) Affiliation: Haryana School of Business, Guru Jambheshwar Univ. of Science & Tech., Hisar, Haryana, India.
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Abstract
The present study analyses investors’ perceptions of financial planning. The purpose of this empirical investigation was to examine the role of different factors like financial behaviour, financial freedom, financial anxiety, tenure of investment, financial goals, and risk involved in personal financial planning. The study’s targeted population (425) was investors residing in the National Capital Region (NCR), India, which was approached based on purposive sampling techniques. A semi-structured set of questions was employed for collecting the information through Google Forms. SEM was adopted for analysing the primary data and finding the relationship among the factors. The results highlighted the most significant contribution of financial goals in financial planning. Tenure of investment, financial freedom, financial anxiety and risk also showed their relevance for financial planning. Risk has been found to impact financial planning negatively while other factors positively impact financial planning. The study favours financial planning to make sound financial decisions and protect themselves from fraudulent practices.
Keywords: Financial Freedom, Financial Anxiety, Tenure of Investment, Financial Goals, Risk, Financial Planning
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