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Journal: International Journal of Management (IJM) (Vol.12, No. 3)

Publication Date:

Authors : ;

Page : 60-69

Keywords : Behavioral Finance; Decision Making; Risk Tolerance; Personal Finance; Financial Goals;

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The financial goals of an individual represent a critical topic, one which has been gaining a lot of traction recently. Everybody has different mind-sets, and thereby have different financial goals. A lot of people fail to realize that the investments made by a certain individual may not be the best fit for themselves, since they might have varying financial goals in mind. The main aim of this paper is to conduct a study that highlights the dependency of factors, including income, age, gender, marital status, retirement age and dependent children, on an individual's financial goals. The study further elaborates on the variance of these factors, calculated using statistical tools like Stata 16, so that investors can make more informed investments suited to their goals. The sample space is predicted to include people of all demographics, and a suitable analysis method is used to express the impact of these factors.

Last modified: 2021-04-05 20:29:45