THE EFFECT OF FINANCIAL LITERACY ON THE SELECTION OF INVESTMENT OPTIONS BASED ON AGE COHORTS

A significant global shift has occurred in the landscape of retirement income, moving the responsibility of financial planning from traditional pension systems to individuals. This study investigates the influence of financial literacy on the selection of investment options for different age groups.  The research employs a mixed-method approach, utilizing both primary data collected through a structured questionnaire from respondents like finance students, financial advisors, individual investors, corporate professionals, educators, policymakers, and individuals from underserved communities and secondary data sourced from various scholarly works. Through statistical analyses including Chi-Square, Cramer's V, Anova, and descriptive statistics, the study examines the relationship between financial literacy and investing choices, as well as the moderating effect of age. The findings emphasize the need for age-specific financial education, digital tools, advisor collaboration, targeted policies, practical training, and tailored products to enhance financial literacy and informed investment decisions across diverse demographics. This research highlighted the importance of tailored financial education programs to enhance investment outcomes for various age demographics