Little is known about how self-determination and financial attitude are linked to retirees’ financial well-being in Nigerian context. Drawing from the theory of reasoned action, the purpose of this paper is to examine the connection of self-determination, financial attitude and financial well-being. Also, this paper examines the mediating role of financial attitude between self-determination and financial well-being.
A cross-sectional study was used in collecting quantitative data from 399 retirees drawn from North Central Nigeria. Hypotheses are tested through structural equation modelling using the Analysis of Moments of Structures (AMOS) software, version 23.
Results from the research indicate that financial attitude serves as a trajectory through which self-determination leads to financial well-being. Therefore, self-determination and financial attitude significantly contribute to the financial well-being of retirees.
The use of a cross-sectional design may undermine the causal conclusions of the findings. This study adds to existing research on financial well-being by showing that financial attitude is significant in attaining financial well-being and how self-determination variable impact financial well-being.
This study contributes to literature by establishing the mediating role of financial attitude in the relationship between self-determination and financial well-being. Thus, instead of concentrating on only the direct effects of self-determination and financial well-being, the indirect effect of financial attitude is tested.
The authors acknowledge with appreciation the financial support received from the University of Jos, Nigeria. This research paper is part of the corresponding author’s PhD research work and the co-authors are the corresponding authors’ PhD supervisors. The PhD was fully funded by Tertiary Education Trust Fund (TETFUND) through the University of Jos, Nigeria. The authors appreciate, first, the Editor and the two anonymous eviewers for the quick response.
Soepding, B.A., Munene, J.C. and Orobia, L. (2021), "Self-determination and financial well-being: mediating role of financial attitude among retirees in Nigeria", Working with Older People, Vol. 25 No. 2, pp. 153-163. https://doi.org/10.1108/WWOP-09-2020-0051
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