QUESTIONS ANSWER

We used a descriptive-correlational design because our goal was

1. Why did you choose a descriptive-correlational design for to describe employees’ level of financial planning and
your study? retirement readiness and determine the relationship between
them without manipulating any variables.
This design allows us to statistically test how financial planning
2. How does this design help you measure the relationship
affects retirement readiness using correlation analysis,
between financial planning and retirement readiness?
particularly Pearson’s r.
It fits our study because we aimed to both describe and measure
3. What makes this design the most appropriate for your
— describing respondents’ characteristics and determining how
research objectives?
financial planning is related to retirement readiness.
We used Slovin’s formula with a 5% margin of error, which
4. How did you determine your sample size of 385 respondents? resulted in 385 respondents, enough to represent private-sector
employees in District 2 of Marikina City.
We used simple random sampling because it gave all qualified
5. What sampling technique did you use and why? respondents an equal chance of being selected, minimizing bias
and ensuring fair representation of the population.
We focused on private-sector employees because they rely
6. Why did you focus only on private-sector employees in mainly on personal savings and employer-based programs,
District 2 of Marikina City? unlike public employees who have GSIS. District 2 was chosen
for accessibility and adequate representation.
We chose this age group because, according to Cortez (2023),
employees in this range are young professionals who are
7. Why did you choose respondents aged 26–35 years old?
starting to build financial stability and still have time to prepare
for retirement.
Yes. We distributed 385 respondents equally across seven
8. Do you think your sample represents the overall population
barangays in District 2, ensuring balanced and representative
of private employees in Marikina City?
results.
We developed a self-made questionnaire based on the review of
9. Who developed your questionnaire, and was it self-made or
related literature and previous studies, customized to fit the
adapted?
local context of Marikina City.
10. What are the main parts of your questionnaire? The questionnaire has three parts: (1) demographic profile, (2)
financial planning indicators — financial literacy, retirement
 goals, future time perspective, and social influence, and (3)
retirement readiness indicators — savings plan, life satisfaction,
and health benefits.
We used a 4-point Likert scale to avoid neutral responses and
11. What type of scale did you use, and why did you choose a
ensure that respondents expressed a clear level of agreement or
4-point Likert scale?
disagreement.
We validated the questionnaire through two Financial
12. How did you make sure that the questions were clear and
Management experts and five external validators, ensuring
relevant to your study?
clarity, accuracy, and alignment with our study objectives.
We asked two Financial Management experts and seven
external validators to check the instrument for content and face
13. How did you establish the validity of your questionnaire?
validity, ensuring that each question was accurate and relevant
to the study.
We conducted a pilot test and calculated the Cronbach’s Alpha
14. How did you test the reliability of your instrument?
to check internal consistency.
Cronbach’s Alpha measures the reliability or consistency of the
15. What is Cronbach’s Alpha, and what does your result questionnaire. Our result was 0.984, which indicates excellent
indicate about your instrument? reliability, meaning the items were highly consistent and
dependable.
16. What ethical considerations did you follow during your We observed ethical standards such as voluntary participation,
research? informed consent, and confidentiality of all responses.
We informed respondents about the study’s purpose, assured
17. How did you ensure the confidentiality and voluntary
anonymity, and allowed them to withdraw anytime, following
participation of your respondents?
the Data Privacy Act of 2012 (Republic Act No. 10173).
Yes. Respondents signed or agreed to an informed consent form
18. Did you ask for informed consent before data collection? before answering the questionnaire, ensuring that participation
was voluntary and ethical.
We personally distributed printed questionnaires to respondents
19. How did you distribute and collect your questionnaires? and collected them after completion. We also used Google
Forms to reach additional participants and gather data faster.
The entire data gathering lasted for about three weeks, including
20. How long did your data gathering process take? coordination, distribution, online collection, and retrieval of
responses.
 Yes. Some respondents were initially hesitant to answer due to
21. Did you experience any challenges during data collection,
time constraints, but we explained the purpose of the study and
and how did you handle them?
assured them of confidentiality, which encouraged participation.
We used frequency and percentage for demographic profile,
weighted mean and standard deviation for perception analysis,
22. What statistical tools did you use in analyzing your data?
and Pearson’s r correlation to determine the relationships
between financial planning and retirement readiness.
We used Pearson’s r because it measures the strength and
direction of the linear relationship between two continuous
23. Why did you choose Pearson’s r correlation for your study?
variables, which fits our goal to test how financial planning
relates to retirement readiness.
The r-value shows the strength and direction of the relationship,
24. What do r-value, r², and p-value mean, and how are they r² indicates the percentage of variation explained by one
interpreted? variable to another, and p-value determines if the relationship is
statistically significant.
It means the result is statistically significant — there is enough
25. What does it mean when your p-value is less than 0.05? evidence to reject the null hypothesis and conclude that a real
relationship exists between the variables.

QUESTIONS ANSWERS
Most respondents were aged 26–28 years old (45%), followed
by 29–31 years old (28%), and 32–35 years old (27%). This
indicates that the majority were young professionals who are
still at the early stage of their careers, providing them more time
1. Based on your results, which age group had the highest
to build strong financial planning habits and prepare for
number of respondents and what does this imply?
retirement. According to Cortez (2023), employees aged 26 to
35 start developing financial responsibilities, while Nam and
Loibl (2020) emphasized that starting early allows individuals
to save more effectively for the future.
2. What does the distribution of respondents by sex reveal about Out of 385 respondents, 208 (54%) were female and 177 (46%)
your study? were male, indicating that both sexes were well represented,
with females slightly outnumbering males. This balance
 suggests inclusivity and that both male and female perspectives
were equally considered in terms of financial planning and
retirement readiness.
Most respondents earned between ₱200,000 – ₱250,000
annually (22%), while others earned below ₱200,000 or above
₱300,000. This suggests that majority of employees belong to
the middle-income group, but a portion still experiences
3. How does estimated annual income influence financial
financial limitations that may affect retirement preparation.
planning among employees?
Vivel-Búa et al. (2019) stated that higher income enables
individuals to save and invest more effectively, while Castillo
(2022) noted that lower-income employees often find it harder
to save for long-term goals.
The majority of respondents were college graduates (45%),
followed by college undergraduates (36%). This indicates that
most have attained higher education, which contributes to better
4. What was the educational attainment of the respondents, and financial understanding and retirement planning. Lusardi and
how might it affect their financial readiness? Messy (2023) found that financial literacy allows people to
make wiser financial decisions, while Noviarini et al. (2023)
emphasized that those with higher education are more consistent
in saving and managing debts effectively.
Respondents strongly agreed that they were financially literate
in budgeting (x̅ = 3.69), understanding deductions (x̅ = 3.69),
and distinguishing needs from wants (x̅ = 3.66). The lowest was
understanding interest rates (x̅ = 3.62). With a grand mean of
1. How financially literate were the respondents according to
3.66, employees were found to be financially knowledgeable
your results?
and capable of managing their money. Thosiac (2024) stated
that financial literacy is key to managing money, while Salleh
and Baha (2025) explained that financially literate employees
are more engaged in retirement planning.
2. What can you say about the respondents’ retirement goals? Respondents agreed on having a clear vision of retirement life
(x̅ = 3.49) and preferred retirement age (x̅ = 3.46), but had lower
agreement on setting specific savings goals (x̅ = 3.39). With a
mean of 3.43, this shows that employees value retirement goals
 but still lack measurable financial targets. Isa and Daukin
(2023) highlighted that setting clear retirement goals encourages
consistent saving, while Hutchinson (2024) stated that realistic
goals improve retirement stability.
Respondents strongly agreed that their current financial actions
affect their future (x̅ = 3.66) and that early planning prevents
financial problems (x̅ = 3.62). With a grand mean of 3.55, it
indicates a strong future-oriented mindset among employees.
3. How did respondents view their future time perspective?
Hao et al. (2024) stated that individuals with strong future
orientation are better prepared for retirement, and Mooney et al.
(2021) noted that balancing present and future needs leads to
long-term financial success.
Respondents strongly agreed that family encouragement (x̅ =
3.62) and observing others’ financial habits (x̅ = 3.56)
influenced their own behavior. With a grand mean of 3.51,
4. How significant was social influence in financial planning social influence was found to motivate financial planning
among employees? through modeling and support. Jais and Asokumar (2020) said
family and workplace networks motivate individuals to prepare
financially, while Awang and Abdullah (2021) added that social
connections improve financial decision-making.
The contingency analysis showed that employees who apply
financial literacy, set retirement goals, and plan for the future
are better prepared for retirement. This means financial
5. How does the contingency of financial planning affect
planning behaviors are directly linked to future financial
employees’ readiness?
stability. Gowthami (2024) explained that consistent financial
planning practices strengthen long-term financial stability and
improve readiness for retirement.
1. How prepared were employees in terms of savings plan? Respondents strongly agreed that they adjust their savings when
income changes (x̅ = 3.55) and avoid unnecessary spending (x̅ =
3.54). With a grand mean of 3.49, this shows good saving
behavior but limited use of dedicated retirement accounts.
Yusoff et al. (2024) noted that limited income makes saving for
retirement difficult, while Krishnaveni et al. (2024) emphasized
 the need for adaptive saving behavior due to rising living costs.
Respondents expressed satisfaction with managing finances (x̅ =
3.45) and hope for their financial future (x̅ = 3.46). With a grand
mean of 3.43, this shows optimism but highlights room for
2. How satisfied were the respondents with their financial life?
improvement in current financial satisfaction. Alexis et al.
(2020) stated that financial satisfaction directly impacts
retirement readiness and overall well-being.
Respondents strongly agreed that they included healthcare in
their retirement planning (x̅ = 3.63) and saved for emergency
medical needs (x̅ = 3.59). With a grand mean of 3.60, this
3. How did respondents view health benefits as part of
indicates that health planning is a key part of retirement
retirement readiness?
readiness. Roslan (2024) explained that health planning reduces
financial stress in later years and is essential for long-term
security.
The contingency results showed that those who practiced good
saving habits, maintained health plans, and expressed
4. What was revealed in the contingency of retirement satisfaction with their financial life were more retirement-ready.
readiness? Roslan (2024) emphasized that comprehensive retirement
readiness involves not only savings but also long-term
healthcare and satisfaction.
There was a significant correlation between financial literacy
and age (r = 0.236, p < 0.001), sex (r = 0.111, p = 0.029),
income (r = 0.160, p = 0.002), and education (r = 0.111, p =
0.030). This means older, higher-earning, and more educated
1. What is the relationship between financial literacy and the
employees showed better financial knowledge. Sex had a minor
demographic profile of the respondents?
influence. According to Cortez (2024), financial experience
increases with age, while Vivel-Búa et al. (2019) and Noviarini
et al. (2023) noted that higher income and education lead to
stronger financial literacy.
2. How is retirement goals related to the demographic profile? Retirement goals were significantly related to age (r = 0.186, p
< 0.001), income (r = 0.320, p < 0.001), and education (r =
0.148, p = 0.004), but not to sex (r = -0.014, p = 0.792). This
shows that older, wealthier, and more educated employees are
 more likely to set clear retirement goals. Vivel-Búa et al. (2019)
found that income improves retirement preparation, while
Noviarini et al. (2023) highlighted education’s role in
developing realistic financial goals.
There was a significant relationship between future time
perspective and age (r = 0.141, p = 0.005), income (r = 0.156, p
= 0.002), and education (r = 0.125, p = 0.014), while sex
3. What does the correlation between future time perspective showed no correlation (r = 0.077, p = 0.131). This means older,
and demographic profile indicate? more educated, and higher-income employees are more future-
oriented. Vivel-Búa et al. (2019) and Noviarini et al. (2023)
supported that financial capability and education help
strengthen long-term financial planning.
Social influence had a weak or no correlation with age (r =
0.005, p = 0.031), sex (r = 0.131, p = 0.747), income (r = 0.002,
p = 0.706), and education (r = 0.014, p = 0.217). This means
4. What is the correlation between social influence and
social encouragement has little effect compared to personal or
demographic profile?
financial factors. Cortez (2024) and Vivel-Búa et al. (2019)
stated that financial behavior is shaped more by experience,
income, and education than by social pressure.
Overall, age, income, and education significantly influence
financial literacy, retirement goals, and future time perspective,
while sex and social influence have minimal effects. This
5. What is the overall interpretation of the correlation between
suggests that financial planning improves with experience,
financial planning and demographic profile?
resources, and education. Noviarini et al. (2023) and Cortez
(2024) emphasized that financial knowledge grows with
maturity and education, supporting these findings.
1. What was the relationship between financial literacy and Financial literacy showed a significant correlation with
retirement readiness? retirement readiness in terms of savings (r = 0.343), life
satisfaction (r = 0.290), and health benefits (r = 0.350). This
means financially literate employees are better prepared for
retirement. Anuar et al. (2023) explained that financial literacy
strengthens preparedness, while Lusardi and Messy (2023)
confirmed that financial knowledge improves long-term
 security.
Retirement goals were significantly correlated with savings plan
(r = 0.323), life satisfaction (r = 0.365), and health benefits (r =
0.332), showing that clear goals lead to consistent saving and
2. How did retirement goals affect retirement readiness?
confidence in retirement. Anuar et al. (2023) stated that defined
goals enhance financial stability, while Lusardi and Messy
(2023) noted that goal setting motivates long-term planning.
Future time perspective had significant correlations with
savings (r = 0.337), life satisfaction (r = 0.308), and health
benefits (r = 0.276), indicating that employees who think long-
3. How did future time perspective influence retirement
term are more financially and emotionally prepared for
readiness?
retirement. Anuar et al. (2023) and Lusardi and Messy (2023)
emphasized that proactive financial behavior results in stronger
retirement readiness.
Social influence significantly correlated with savings plan (r =
0.291), life satisfaction (r = 0.371), and health benefits (r =
4. Was there a relationship between social influence and 0.207), meaning family and peers contribute positively to
retirement readiness? retirement confidence and preparedness. Lusardi and Messy
(2023) supported that social environments encourage
individuals to engage in financial planning and saving.
The overall correlation was r = 0.271, p < 0.001, showing that
financial planning explained 7.3% of the variation in retirement
readiness. Employees who are financially literate, goal-oriented,
5. What was the overall correlation between financial planning
future-focused, and socially supported are more retirement-
and retirement readiness?
ready. Anuar et al. (2023) and Lusardi and Messy (2023) both
affirmed that strong financial planning directly contributes to
long-term financial stability and readiness.