Over the past retirement planning has become less of an institutional and more of an individual responsibility. The reasons for this change are well known and include a shift from defined benefit to defined contribution retirement programs, longer life spans, and growing uncertainty and even company pensions. The savings rate has been declining on one hand and process of portfolio management becoming more and more complex. The Government of India intends to spread financial literacy and awareness through its ambitious policies. The investors though are aware of need of systematic planning; do not engage them in such effort. The present study is an attempt to understand the underlying reasons for such disinterest by investors. Many reasons such as lack of knowledge of financial planning, unawareness of the role of financial planners, self rated expertise was found to be prominent among them. The study is limited to Ahmednagar city and can be useful in identifying underlying reasons for non engagement in financial planning or help by professionals.
Keywords
Socio Demographic Characteristics, Financial Planning
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