International Journal of Management, Economics and Social Sciences
2021, Vol. 10(2-3), pp. 140 – 155.
ISSN 2304 – 1366
http://www.ijmess.com
DOI: 10.32327/IJMESS/10.2-3.2021.9
2021, Vol. 10(2-3), pp. 140 – 155.
ISSN 2304 – 1366
http://www.ijmess.com
DOI: 10.32327/IJMESS/10.2-3.2021.9
Impact of the COVID-19 Pandemic on the Financial Well-being among Older Adults in Malaysia
Muhammad Amjad Khan1
Khor Saw Chin1
Charles Ramendran SPR1
1Faculty of Business and Finance, Universiti Tunku Abdul Rahman, Kampar, Malaysia
Khor Saw Chin1
Charles Ramendran SPR1
1Faculty of Business and Finance, Universiti Tunku Abdul Rahman, Kampar, Malaysia
ABSTRACT
The purpose of this study was to explore the impact of the COVID-19 pandemic on the financial well-being among older adults in Malaysia. The study was carried out a literature review to evaluate research published in journals and conference proceedings in Malaysia relating to older adults. The study applied personal control theory to evaluate the COVID-19 pandemic's impact on the financial well-being among older adults in Malaysia. The findings of this study demonstrated that older adults lost their source of income during the COVID-19 pandemic that has adversely affected their financial well-being. This study contributes to shape a sustainable society by offering constructive knowledge of the financial well-being of older adults as they were a more vulnerable portion of society in the COVID-19 pandemic. The study concluded that policymakers should develop effective social security policies to absorb financial shocks so that the lifestyles of older adults can be improved.
Keywords: COVID-19, pandemic, older adults, financial well-being, Malaysia
JEL: E24, I15, I38
Keywords: COVID-19, pandemic, older adults, financial well-being, Malaysia
JEL: E24, I15, I38
