PERSONAL FINANCIAL MANAGEMENT BEHAVIOR AND FINANCIAL PLANNING AS KEY DRIVERS OF RETIREMENT PREPAREDNESS AMONG LGU's CONTRACTUAL PERSONNEL

This study was conducted to determine how which of the personal financial management behavior and financial planning significantly drive retirement preparedness. Despite understanding the importance of planning for the future, the lack of stable income and limited opportunities to save make it difficult for them to secure a comfortable life after employment. A total of 200 contractual personnel, selected through simple random sampling, served as respondents. The researcher utilized a descriptive-correlational research design, employing an adapted and expert-validated survey questionnaire. Statistical analysis included mean scores, standard deviations, Pearson's r, and multiple regression. The findings indicate that the respondents exhibited an evident of retirement preparedness and a high status of personal financial management behavior. In the essence of financial planning, retirement savings indicator was moderately evident in retirement preparedness. Moreover, the study proved that personal financial management behavior and financial planning have a strong and significant relationship with retirement preparedness. As a result, financial management behavior and financial planning are the key drivers for retirement preparedness.