Hundreds of financial planning literature reviews exist; only a few papers discuss the context of retirement. This paper aims to give researchers clarity and confidence on financial planning for retirement (FPR) by incorporating diverse perspectives, including theories, methodologies, and determinants of FPR. Given the importance of conceptual models to test hypotheses and predict information in a scientific study, the literature illustrated a dearth of model adoptions in examining the determinants that shape individuals’ perceptions of FPR behaviours. This paper highlights the pertinent gaps in the literature regarding the significant outcomes of empirical and theoretical contributions that relate to cognitive, psychological, and external variables influencing FPR. This review consists of two steps. The first step contains database searches, whereas the second step retrieves and screens all pertinent articles extensively covered over nearly 20 years between 2000–2019. In addition, this paper provides researchers with primary key features in prior publications, such as publication trends in years and countries, sample types, and statistical techniques employed.

• Ajzen, I. (1991). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179-211. https://doi.org/10.1016/0749-5978(91)90020-T

• Beach, L. R., & Mitchell, T. R. (1987). Image theory: Principles, goals, and plans in decision making. Acta Psychologica, 66(3), 201-220. https://doi.org/10.1016/0001-6918(87)90034-5

• Blake, D. (2004). The impact of wealth on consumption and retirement behaviour in the UK. Applied Financial Economics, 14(8), 555-576. https://doi.org/10.1080/0960310042000233863

• Blumberg, M., & Pringle, C. D. (1982). The missing opportunity in organizational research: Some implications for a theory of work performance. Academy of Management Review, 7(4), 560-569. https://doi.org/10.5465/amr.1982.4285240

• Bucher-Koenen, T., & Lusardi, A. (2011). Financial literacy and retirement planning in Germany. Journal of Pension Economics and Finance, 10(4), 565-584. https://doi.org/10.1017/S1474747211000485

• Chatterjee, S., Green-Pimentel, L., & Turner, P. (2010). Financial education and consumers’ willingness to change behavior. Investment Management and Financial Innovations, 7(3), 73-81. https://www.scopus.com/inward/record.uri?eid=2-s2.0-78349233441&partnerID=40&md5=f43232813a90ae337fbd512c86a2ea4f

• Damman, M., Henkens, K., & Kalmijn, M. (2014). Family histories and women’s retirement: The role of childbearing and marital experiences (Netspar Discussion Paper No. 05/2014-033). SSRN. http://dx.doi.org/10.2139/ssrn.2471444

• Dan, A. A. (2004). What are people doing to prepare for retirement? Structural, personal, work, and family predictors of planning [Doctoral thesis]. Case Western Reserve University. https://etd.ohiolink.edu/rws_etd/document/get/case1079241195/inline

• Denyer, D., & Tranfield, D. (2006). Using qualitative research synthesis to build an actionable knowledge base. Management Decision, 44(2), 213-227. https://doi.org/10.1108/00251740610650201

• Dolinski, D., Dolinska, B., & Bar-Tal, Y. (2016). Need for closure moderates the break in the message effect. Frontiers in Psychology, 7, 1879. https://doi.org/10.3389/fpsyg.2016.01879

• Fabre, E. F., Causse, M., Pesciarelli, F., & Cacciari, C. (2016). The responders’ gender stereotypes modulate the strategic decision-making of proposers playing the Ultimatum Game. Frontiers in Psychology, 7, 12. https://doi.org/10.3389/fpsyg.2016.00012

• Feldstein, M. S. (1974). Social security, induced retirement, and aggregate capital accumulation. Journal of Political Economy, 82(5), 905-926. https://doi.org/10.1086/260246

• Feldstein, M. S. (1976). Social security and savings: The extended life cycle theory. The American Economic Review, 66(2), 77-86. https://www.jstor.org/stable/1817202?seq=1#page_scan_tab_contents

• Feldstein, M. S. (1982). Social security and private saving: Reply. Journal of Political Economy, 90(3), 630-642. https://doi.org/10.1086/261078

• Fontes, A. (2011). Differences in the likelihood of ownership of retirement saving assets by the foreign and native-born. Journal of Family and Economic Issues, 32(4), 612-624. https://doi.org/10.1007/s10834-011-9262-3

• França, L., & Hershey, D. A. (2018). Financial preparation for retirement in Brazil: A cross-cultural test of the interdisciplinary financial planning model. Journal of Cross-Cultural Gerontology, 33(1), 43-64. https://doi.org/10.1007/s10823-018-9343-y

• Friedman, S. L., & Scholnick, E. K. (1997). An evolving “blueprint” for planning: Psychological requirements, task characteristics, and social–cultural influences. In The developmental psychology of planning (pp. 3-22). Taylor & Francis.

• Glass, J. C., & Kilpatrick, B. B. (1998). Gender comparisons of baby boomers and financial preparation for retirement. Educational Gerontology, 24(8), 719-745. https://doi.org/10.1080/0360127980240802

• Gutierrez, H. C., & Hershey, D. A. (2014). Age differences in expected satisfaction with life in retirement. The International Journal of Aging and Human Development, 78(2), 93-114. https://doi.org/10.2190/AG.78.2.a

• Hastings, J., & Mitchell, O. S. (2020). How financial literacy and impatience shape retirement wealth and investment behaviors. Journal of Pension Economics and Finance, 19(1), 1-20. https://doi.org/10.1017/S1474747218000227

• Heilman, R. M., & Kusev, P. (2017). The gender pay gap: Can behavioral economics provide useful insights? Frontiers in Psychology, 8, 95. https://doi.org/10.3389/fpsyg.2017.00095

• Hershey, D. A. (2004). Psychological influences on the retirement investor. Certified Senior Advisor.

• Hershey, D. A., Henkens, K., & Van Dalen, H. P. (2007a). Mapping the minds of retirement planners: A cross-cultural perspective. Journal of Cross-Cultural Psychology, 38(3), 361-382. https://doi.org/10.1177/0022022107300280

• Hershey, D. A., Henkens, K., & Van Dalen, H. P. (2010). Aging and financial planning for retirement: Interdisciplinary influences viewed through a cross-cultural lens. The International Journal of Aging and Human Development, 70(1), 1-38. https://doi.org/10.2190/AG.70.1.a

• Hershey, D. A., Jacobs-Lawson, J. M., & Austin, J. T. (2012). Effective financial planning for retirement. In M. Wang (Ed.), The Oxford handbook of retirement. Oxford University Press. https://doi.org/10.1093/oxfordhb/9780199746521.013.0133

• Hershey, D. A., Jacobs-Lawson, J. M., McArdle, J. J., & Hamagami, F. (2007b). Psychological foundations of financial planning for retirement. Journal of Adult Development, 14(1-2), 26-36. https://doi.org/10.1007/s10804-007-9028-1

• Hershey, D. A., & Mowen, J. C. (2000). Psychological determinants of financial preparedness for retirement. The Gerontologist, 40(6), 687-697. https://doi.org/10.1093/geront/40.6.687

• Hirschi, A., Jaensch, V. K., & Herrmann, A. (2017). Protean career orientation, vocational identity, and self-efficacy: An empirical clarification of their relationship. European Journal of Work and Organizational Psychology, 26(2), 208-220. https://doi.org/10.1080/1359432X.2016.1242481

• Jantan, M. S. (2020). The improvement in life expectancy: Systematic literature review of retirement saving. SSRN. http://dx.doi.org/10.2139/ssrn.3582234

• Jiménez, I., Chiesa, R., & Topa, G. (2019). Financial planning for retirement: Age-related differences among Spanish workers. Journal of Career Development, 46(5), 550-566. https://doi.org/10.1177/0894845318802093

• Kemp, C. L., Rosenthal, C. J., & Denton, M. (2005). Financial planning for later life: Subjective understandings of catalysts and constraints. Journal of Aging Studies, 19(3), 273-290. https://doi.org/10.1016/j.jaging.2004.08.004

• Kiso, H., & Hershey, D. A. (2017). Working adults’ metacognitions regarding financial planning for retirement. Work, Aging and Retirement, 3(1), 77-88. https://doi.org/10.1093/workar/waw021

• Koposko, J. L., & Hershey, D. A. (2014). Parental and early influences on expectations of financial planning for retirement. Journal of Personal Finance, 13(2), 17-27.

• Kumar, S., Tomar, S., & Verma, D. (2019). Women’s financial planning for retirement: Systematic literature review and future research agenda. International Journal of Bank Marketing, 37(1), 120-141. https://doi.org/10.1108/IJBM-08-2017-0165

• Lum, Y.-S., & Lightfoot, E. (2003). The effect of health on retirement saving among older workers. Social Work Research, 27(1), 31-44. https://doi.org/10.1093/swr/27.1.31

• Lusardi, A., & Mitchell, O. S. (2007). Baby boomer retirement security: The roles of planning, financial literacy, and housing wealth. Journal of Monetary Economics, 54(1), 205-224. https://doi.org/10.1016/j.jmoneco.2006.12.001

• Ming Thung, C., Ying Kai, C., Sheng Nie, F., Wan Chiun, L., & Chang Tsen, T. (2012). Determinants of saving behaviour among the university students in Malaysia. University Tunku Abdul Rahman. http://eprints.utar.edu.my/607/1/AC-2011-0907445.pdf

• Moher, D., Liberati, A., Tetzlaff, J., & Altman, D. G. (2009). Preferred reporting items for systematic reviews and meta-analyses: The PRISMA statement. PLoS Medicine, 6(7), e1000097. https://doi.org/10.1371/journal.pmed.1000097

• Mowen, J. C. (2000). The 3M model of motivation and personality: Theory and empirical applications to consumer behavior. Springer Science & Business Media.

• Murari, K., Shukla, S., & Adhikari, B. (2021). Do psychological social and financial perceptions of post-retirement life and demography influence the retirement planning behaviour? International Journal of Social Economics, 48(11), 1545-1566. https://doi.org/10.1108/IJSE-08-2020-0581

• Nga, K. H., & Yeoh, K. K. (2018). An exploratory model on retirement savings behaviour: A Malaysian study. International Journal of Business and Society, 19(3), 637-659.

• Noone, J., Alpass, F., & Stephens, C. (2010). Do men and women differ in their retirement planning? Testing a theoretical model of gendered pathways to retirement preparation. Research on Aging, 32(6), 715-738. https://doi.org/10.1177/0164027510383531

• Orel, N. A., Ford, R. A., & Brock, C. (2004). Women’s financial planning for retirement: The impact of disruptive life events. Journal of Women & Aging, 16(3-4), 39-53. https://doi.org/10.1300/J074v16n03_04

• Palací, F., Jiménez, I., & Topa, G. (2017). Economic cognitions among older adults: Parental socialization predicts financial planning for retirement. Frontiers in Aging Neuroscience, 9, 376. https://doi.org/10.3389/fnagi.2017.00376

• Palací, F., Jiménez, I., & Topa, G. (2018). Too soon to worry? Longitudinal Examination of financial planning for retirement among Spanish aged workers. PLOS ONE, 13(12), e0209434. https://doi.org/10.1371/journal.pone.0209434

• Petkoska, J., & Earl, J. K. (2009). Understanding the influence of demographic and psychological variables on retirement planning. Psychology and Aging, 24(1), 245-251. https://doi.org/10.1037/a0014096

• Robinson, D. O., Charap, J., Khamis, M., Prasad, A., Ribeiro, A., Rodriguez, P., & Sidahmed, R. (2011). Gulf Cooperation Council Countries (GCC): Enhancing economic outcomes in an uncertain global economy. Gulf Cooperation Council Countries (GCC): Enhancing Economic Outcomes in an Uncertain Global Economy.

• Schuabb, T. C., França, L. H., & Amorim, S. M. (2019). Retirement savings model tested with brazilian private health care workers. Frontiers in Psychology, 10, 1701. https://doi.org/10.3389/fpsyg.2019.01701

• Smith, J. (1999). Life planning: Anticipating future life goals and managing personal development. In Action & Self-Development: Theory and Research Through the Life Span (pp. 223-256). SAGE Publications, Inc. https://doi.org/10.4135/9781452204802.n8

• Taylor, M. A., & Geldhauser, H. A. (2007). Low-income older workers. In I. K. Shultz & G. Adams (Eds.), Aging and work in the 21st century (pp. 25-51). Lawrence Erlbaum.

• Tomar, S., Kumar, S., & Sureka, R. (2021). Financial planning for retirement: Bibliometric analysis and future research directions. Journal of Financial Counseling and Planning, 32(2), 344-362. https://doi.org/10.1891/JFCP-19-00062

• Topa, G., Moriano, J. A., & Moreno, A. (2012). Psychosocial determinants of financial planning for retirement among immigrants in Europe. Journal of Economic Psychology, 33(3), 527-537. https://doi.org/10.1016/j.joep.2012.01.003

• Topa, G., & Herrador-Alcaide, T. (2016). Procrastination and financial planning for retirement: A moderated mediation analysis. Journal of Neuroscience, Psychology, and Economics, 9(3-4), 169-181. https://doi.org/10.1037/npe0000065

• Topa, G., Lunceford, G., & Boyatzis, R. E. (2018a). Financial planning for retirement: A psychosocial perspective. Frontiers in Psychology, 8, 2338. https://doi.org/10.3389/fpsyg.2017.02338

• Topa, G., Segura, A., & Pérez, S. (2018b). Gender differences in retirement planning: A longitudinal study among Spanish registered nurses. Journal of Nursing Management, 26(5), 587-596. https://doi.org/10.1111/jonm.12586

• Vivel-Búa, M., Rey-Ares, L., Lado-Sestayo, R., & Fernández-López, S. (2019). Financial planning for retirement: The role of income. International Journal of Bank Marketing, 37(6), 1419-1440. https://doi.org/10.1108/IJBM-09-2018-0253

• Zhu, A. Y. F., & Chou, K. L. (2018). Retirement goal clarity, needs estimation, and saving amount: Evidence from Hong Kong, China. Journal of Financial Counseling and Planning, 29(2), 328-342. https://doi.org/10.1891/1052-3073.29.2.328

• Welch, J. S. (2015). A quantitative evaluation of four retirement spending models. Journal of Personal Finance, 14(2), 43-57. http://search.ebscohost.com/login.aspx?direct=true&db=bsu&AN=109972913&site=ehost-live

• Zyphur, M. J., Li, W.-D., Zhang, Z., Arvey, R. D., & Barsky, A. P. (2015). Income, personality, and subjective financial well-being: The role of gender in their genetic and environmental relationships. Frontiers in Psychology, 6, 1493. https://doi.org/10.3389/fpsyg.2015.01493