Table A3.
Summary Statistics for all variables in analysis for 2020 HRS Full Sample and Two Subsamples: Not in Experimental Module 1 and in Experimental Module 1
| (1) Full sample |
(2) Not in Experimental Module1 |
(3) In Experimental Module 1 |
(4) Difference (2) - (3) |
(5) Difference (2) - (3) |
|
|---|---|---|---|---|---|
| Mean | Mean | Mean | b | P-value | |
| Race/ethnicity | |||||
| White, non-Hispanic | 0.57 | 0.57 | 0.57 | 0.00 | 0.81 |
| Black, non-Hispanic | 0.22 | 0.21 | 0.22 | −0.01 | 0.42 |
| Hispanic | 0.17 | 0.17 | 0.16 | 0.01 | 0.39 |
| Other, non-Hispanic | 0.05 | 0.05 | 0.05 | 0.00 | 0.55 |
| Female | 0.59 | 0.59 | 0.59 | 0.01 | 0.54 |
| Couple Household | 0.61 | 0.61 | 0.59 | 0.02 | 0.12 |
| Spanish survey | 0.1 | 0.1 | 0.08 | 0.01 | 0.10 |
| US born | 0.83 | 0.83 | 0.85 | −0.02 | 0.08 |
| Age | 67.99 | 68.05 | 67.34 | 0.71 | 0.02 |
| Nursing home | 0.02 | 0.02 | 0.01 | 0.01 | 0.04 |
| Education | |||||
| Less than high school | 0.21 | 0.21 | 0.21 | 0.00 | 0.85 |
| High school graduate | 0.26 | 0.26 | 0.26 | 0.00 | 0.85 |
| Some college | 0.27 | 0.27 | 0.27 | 0.00 | 0.75 |
| College grad and above | 0.26 | 0.26 | 0.26 | 0.00 | 0.97 |
| Working status | 0.36 | 0.36 | 0.37 | −0.01 | 0.44 |
| Retired Status (Survey) | 0.46 | 0.46 | 0.45 | 0.00 | 0.78 |
| Household income | 78.03 | 78.31 | 74.67 | 3.65 | 0.34 |
| Receives social security | 0.72 | 0.72 | 0.72 | 0.00 | 0.79 |
| Prob. leave bequest $10,000 | 64.46 | 64.39 | 64.76 | −0.37 | 0.74 |
| IRA/Keogh Acct. Balance | 192172 | 201832 | 102346 | 99486 | 0.72 |
| Stocks Acct. Balance | 102949 | 107281 | 64418 | 42863 | 0.29 |
| Checking Acct. Balance | 33004 | 33357 | 29947 | 3410 | 0.24 |
| CD Acct. Balance | 13500 | 14349 | 6135 | 8214 | 0.70 |
| Finc. Plan. Hor. (continuous) | 3.18 | 3.18 | 3.15 | 0.03 | 0.33 |
| FP-next few months | 0.16 | 0.16 | 0.17 | −0.01 | 0.37 |
| FP-next year | 0.12 | 0.12 | 0.12 | 0.00 | 0.95 |
| FP-next few years | 0.26 | 0.26 | 0.27 | 0.00 | 0.79 |
| FP-next 5–10 years | 0.3 | 0.3 | 0.3 | 0.01 | 0.61 |
| FP-greater than 10 years | 0.15 | 0.15 | 0.15 | 0.01 | 0.60 |
| (1) Full sample |
(2) Not in Experimental Module1 |
(3) In Experimental Module 1 |
(4) Difference (2) - (3) |
(5) Difference (2) - (3) |
|
| Mean | Mean | Mean | b | P-value | |
| PT. Extrovert | 3.18 | 3.18 | 3.17 | 0.00 | 0.82 |
| PT. Openness | 2.94 | 2.94 | 2.95 | −0.01 | 0.57 |
| PT. Conscientiousness | 3.36 | 3.36 | 3.35 | 0.01 | 0.54 |
| Sat. Health | 3.28 | 3.29 | 3.23 | 0.06 | 0.06 |
| Sat. Household Income | 3.28 | 3.29 | 3.23 | 0.06 | 0.08 |
| Sat. Present Finc. Situation | 3.34 | 3.34 | 3.26 | 0.09 | 0.01 |
| Sat. Life as a Whole | 4.98 | 4.98 | 4.92 | 0.07 | 0.13 |
| Observations | 15482 | 14108 | 1350 | 15458 |