Table 5.

Bivariate probit regressions with outcomes “Difficulties handling money” and “no longer financial respondent”

	(1)	(2)	(3)
Failure:	Problems	Not Financial	Chi-squared test
	Handling Money	Respondent	(p-value)
Memory disease diagnosis	0.916***	0.193	24.12
	(0.097)	(0.126)	(0.0000)
Control investments	−0.069	0.050	1.77
	(0.047)	(0.077)	(0.1837)
Control X Diagnosis	0.021	0.649**	6.31
	(0.197)	(0.224)	(0.0120)
Stock share tercile	0.010	−0.013	0.44
	(0.021)	(0.029)	(0.5077)
Log wealth	−0.032***	−0.012	1.26
	(0.007)	(0.016)	(0.2612)
Own education	−0.010	−02021	0.41
	(0.008)	(0.014)	(0.5223)
Spouse’s education	−0.002	0.060***	15.53
	(0.009)	(0.014)	(0.0001)
Own cognition: CIND	0.466***	0.230**	6.58
	(0.049)	(0.085)	(0.0103)
Own cognition: dementia	1.291***	0.844***	13.62
	(0.078)	(0.119)	(0.0002)
Spouse’s cognition: CIND	−0.160**	−0.177*	0.03
	(0.052)	(0.085)	(0.8607)
Spouse’s cognition: dementia	−0.027	−0.529**	5.85
	(0.097)	(0.187)	(0.0156)
Spouse diagnosis	0.052	−0.222	1.02
	(0.116)	(0.246)	(0.3118)
Spouse’s problems handling money	−0.096	−0.478***	9.56
	(0.062)	(0.109)	(0.0020)
cons	−1.012***	−4.063***	43.32
	(0.207)	(0.413)	(0.0000)
Additional controls	Yes	Yes	Yes
athrho
cons	0.265***
	(0.055)
N couples	7730

Coefficients reported. Additional controls for respondent gender and health insurance status, as well as respondent’s and spouse’s age, education, and self-rated health are included. Estimation uses HRS household level weights, with standard errors clustered at the household level.