Financial Literacy and Retirement Planning Among Overseas Filipino Nurses: Educational Gaps in Investment Strategies
DOI:
https://doi.org/10.67903/ijroms0326Keywords:
Financial Behavior, Financial Literacy, Immigrant Filipino Nurses, Investment Literacy, Retirement PlanningAbstract
Financial literacy is increasingly recognized as an important determinant of individuals’ capacity to make informed financial decisions and prepare for retirement, particularly among migrant workers adapting to unfamiliar financial systems. This study examined the relationship between financial literacy and retirement planning among immigrant Filipino nurses in Missoula, Montana, United States. Using a quantitative descriptive-correlational research design, data were collected from 38 immigrant Filipino nurses through a structured questionnaire administered using purposive and snowball sampling. Financial literacy was assessed across three domains: personal financial knowledge, financial attitude, and financial behavior, while retirement planning was examined in relation to pension preparation, insurance, property investment, financial market participation, and business investment. Descriptive results indicated that respondents demonstrated high levels of personal financial knowledge and financial attitudes and high financial behavior, while retirement planning was rated as very important. Pearson correlation analysis demonstrated significant positive associations between retirement planning and personal financial knowledge (r = .426, p = .008), financial attitude (r = .534, p = .001), and financial behavior (r = .576, p < .001). Among the financial literacy dimensions, financial behavior exhibited the strongest relationship with retirement planning. However, respondents reported comparatively lower confidence regarding financial instruments such as stocks and bonds, indicating an area for strengthening investment literacy. Demographic characteristics, including age, gender, income, and educational attainment, were not significantly associated with financial literacy. The findings suggest that strengthening practical investment education, retirement planning knowledge, and workplace-based financial education may enhance long-term financial preparedness among immigrant Filipino nurses. The study contributes context-specific evidence to the literature on financial capability, migrant workers, and retirement preparedness.
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