Appropriate Saving Model for Retirement of Government and Private Sector Employees in Bangkok Metropolis
Keywords:
Saving for retirement, Government employee, Private employeeAbstract
This research is undertaken to study appropriate savings behavior and patterns for retirement of government employees and private sector employees in Bangkok. Data are collected via questionnaires and analyzed by using descriptive statistics including frequency, percentage, mean, and standard deviation, as well as using survival analysis to analyze appropriate savings patterns. The results show that government employees invest most of their savings in savings cooperatives, followed by commercial banks and mutual funds, with savings ratios of 1 to 5 percents of monthly income. The most appropriate investment modes for government employees are savings cooperatives, life insurance, and cryptocurrencies. On the other hand, private sector employees invest most of their savings in savings cooperatives within their organizations, followed by commercial banks, and gold/jewelry with savings ratio of 1 to 5 percent of monthly income more. The most appropriate investment modes for private sector employees are mutual funds, life insurance and current account savings.
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