Current Volume 8
Retirement Planning and Post-retirement Entrepreneurship in Nigeria: A Study of Retired Nigerian Navy Personnel
Abstract
An estimated 9 million retirees in the United States of America engage in productive ventures after retirement. In Canada, retired personnel of the ages 60-64 reenter the market to enhance their living condition and the economy. Against this background, this study was undertaken to assess the effects of retirement planning on post-retirement entrepreneurship in Nigeria; A study of retired navy personnel. The study employed the cross-sectional survey research design and purposive sampling, and the instrument of questionnaire was used to select and elicit relevant information for the study with Taro Yamane (1967) sampling formula. Four hundred and fifty-two respondents were determined, from which 348 questionnaires were returned for analysis, and the study was anchored on human capital and reasoned action theory. An inferential statistic was employed to examine the effects of retirement planning on post-retirement entrepreneurship of the 348 respondents. The results revealed that Retirement Planning Behavior has a significant positive effect (?=19.7%) on Entrepreneurship motivation of retired Navy personnel in Nigeria, Financial Literacy Education has a significant positive effect (?=13.1%) on entrepreneurship decision-making of retired Navy personnel in Nigeria, and Entrepreneurship education has an insignificant positive effect (?=6.5%) on venture creation of retired Navy personnel in Nigeria. Given the positive coefficients from the findings, the study concludes that adequate retirement planning positively affects post-retirement entrepreneurship of navy personnel in Nigeria. Against this backdrop, the study recommends that the Nigerian Navy develop a policy or partner with a firm to monitor the progress of start-up ventures of its retired personnel and that further studies be conducted to uncover factors militating against venture creation by retired Nigerian Navy Personnel.
Citations
IRE Journals:
Marvellous Anthony Alfred
"Retirement Planning and Post-retirement Entrepreneurship in Nigeria: A Study of Retired Nigerian Navy Personnel" Iconic Research And Engineering Journals Volume 7 Issue 2 2023 Page 467-516
IEEE:
Marvellous Anthony Alfred
"Retirement Planning and Post-retirement Entrepreneurship in Nigeria: A Study of Retired Nigerian Navy Personnel" Iconic Research And Engineering Journals, 7(2)
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