The Role Of Financial Risk Tolerance And Financial Advisor Management In Mediating The Relationship Between Financial Attitudes, Financial Knowledge, Financial Anxiety, And Sustainable Financial Retirement Planning

Abstract

Purpose: The aim of this study is to examine how financial risk tolerance and the engagement of a financial advisor management affect the relationship between financial attitudes, financial knowledge, financial anxiety, and sustainable financial retirement planning. Design/methodology/approach: The data were gathered from 384 self-employed people in Jordan's northern area. The data was analysed using partial least square structural equation modelling (PLS-SEM). Findings: The results show that retirement planning is highly impacted by financial attitudes, financial knowledge, and financial anxiety. Additionally, this association is mediated by financial risk tolerance and the presence of a financial advisor management. Research, Practical and Social implications: The findings highlight the need of taking into account people's risk tolerance and seeking advice from a financial advisor management when forming sustainable financial retirement planning. With the help of this study, policymakers, financial experts, and self-employed people in Jordan will have a better grasp of the variables affecting retirement planning, and they will get knowledge on how to improve their own financial readiness for retirement. Originality/value: The value of the study uniquely explores financial risk tolerance and advisor management's mediating roles, leveraging PLS-SEM, enhancing sustainable retirement planning strategies.