This study identified and tested some factors that affect financial retirement planning among individual SME owners in Malaysia. Concern the world over has been growing about the low retirement savings of many individuals in both developed and developing countries. This situation has been compounded by the low level of financial attitude, financial literacy, and health literacy and has been further complicated by less consultation from the financial advisor, causing most individuals to be unable to make good financial decisions. Individual SME owners from the Northern region of Malaysia, namely Perlis, Kedah, and Penang, took part in the study. The Theory of Life Cycle Saving and Investing and The Theory of Mental Accounting were used to investigate the behavioural factors and possible policy interventions for these individual SME owners' financial retirement planning. Structural Equation Modelling (SEM) was used to test the relationships and moderating effects of the constructs used in this study. Financial attitude and financial literacy were found to affect financial retirement planning positively. In addition, the role of the financial advisor moderated the relationships between 1) financial attitude and financial retirement planning and 2) financial literacy and financial retirement planning. With these results in mind, intervention efforts targeting financial attitude, health literacy, financial literacy and the role of a financial advisor will aid policy designed to induce additional financial retirement savings. Implications and suggestions of the findings and their generalisability are discussed, the study's limitations are pointed out, and directions for further research are explored.
