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Objective: The main purpose of this study is to explore the influences of Financial Knowledge for Retirement and Retirement Self-efficacy on Life Satisfaction, with a specific focus on the mediating role of Retirement Readiness among working adults in China. Theoretical Framework: The study is grounded in the context of China’s aging population and slowing economic growth, highlighting the increasing importance of Retirement Readiness. It posits that Financial Knowledge for Retirement and Retirement Self-efficacy are key determinants of Retirement Readiness, which in turn impacts Life Satisfaction. Method: Utilizing a quantitative research methodology, data were collected from a stratified sample of working adults in China, covering diverse age groups, regions, and occupational backgrounds. Results and Discussion: The findings confirm all five proposed hypotheses, demonstrating that both Financial Knowledge for Retirement and Retirement Self-efficacy have a statistically significant impact on Retirement Readiness. Retirement Readiness, in turn, has a statistically significant influence on Life Satisfaction. This suggests that enhancing financial knowledge and self-efficacy in retirement planning can improve Retirement Readiness and, consequently, Life Satisfaction among working adults in China. Research Implications: The study highlights the importance of financial education and tailored guidance for retirement planning. It suggests that working adults, policymakers, educators, financial advisors, and researchers should focus on improving Financial Knowledge for Retirement and Retirement Self-efficacy to help individuals better prepare for retirement. Originality/Value: This study provides a comprehensive investigation into the determinants of Life Satisfaction among working adults in China, with a particular emphasis on the mediating role of Retirement Readiness.
Lan et al. (Mon,) studied this question.