#02 : Investigating Determinants of Financial Risk Tolerance and Its Impact on the Current Lifestyle Among Older Malaysians

The study discovered that COVID-19 has heightened financial risk tolerance among
Malaysia’s elderly population. Explored the intricate relationships between financial
risk tolerance, financial status, health status, and lifestyle in a group of 250 urban
elderly individuals, utilising structured questionnaires. Our aim was to identify gaps
and opportunities in policies and support systems, as these factors significantly
influence the financial behaviour and nwell-being of older adults. A major flaw in
current policies is their focus on economic security at the expense of other aspects of
well-being. While these policies may ensure financial security, they could leave
seniors feeling unfulfilled. Such conservative approaches might impede their
happiness and overall well-being. This highlights an urgent need for policy reform that
achieves a balance between economic security, self actualisation, and holistic
prosperity. Addressing this pressing yet often overlooked issue is crucial. Neglecting
it could result in the elderly remaining financially and socially vulnerable, ultimately
harming society.

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