Abstract
Understanding the factors that determine why people do not have retirement savings accounts in Mexico is highly relevant to promoting government action. This research study aims to analyze the factors that determine retirement plans from the demand side, using the National Survey on Financial Inclusion. The results show that the variables associated with why people do not have savings for retirement in Mexico are low income (mostly variable), low educational level, absence of spending record, female gender, rural/small town background, and lack of mobile phone ownership. However, the fact that they also live with specific behavioral economic biases, such as self-control and monetary illusion, was not statistically significant in the case of Mexico.