Table 8.
Financial Wealth before and after Cognitive Decline by Availability of Pension/Annuity (P/A) Income (Non-Working Financial Respondents Only)
| Cognitive Decline based on: | ||
|---|---|---|
| Total Word Recall | Total Cognition | |
|
| ||
| Private Financial Wealth | ||
| At decline - No P/A | −6.467** (2.030) |
−4.927** (2.248) |
| At decline - P/A | −1.188 (2.449) |
−3.862* (2.099) |
| After decline - No P/A | −5.305** (1.880) |
−4.677** (2.252) |
| After decline - P/A | −3.652 (2.452) |
−3.923* (2.266) |
|
| ||
| N | 14,807 | 14,807 |
|
| ||
| Private Financial Wealth plus IRAs | ||
|
| ||
| At decline - No P/A | −8.661** (2.490) |
−7.260** (2.800) |
| At decline - P/A | −4.372 (2.698) |
−6.029** (2.356) |
| After decline - No P/A | −8.215** (2.204) |
−7.088** (2.699) |
| After decline - P/A | −4.184 (2.985) |
−3.598 (3.176) |
|
| ||
| N | 14,807 | 14,807 |
|
| ||
| Net Financial Wealth | ||
|
| ||
| At decline - No P/A | −6.906** (1.979) |
−5.501** (2.175) |
| At decline - P/A | −1.527 (2.308) |
−3.919** (1.976) |
| After decline - No P/A | −5.142** (1.868) |
−3.734* (2.245) |
| After decline - P/A | −3.678 (2.429) |
−4.029* (2.235) |
|
| ||
| N | 14,806 | 14,806 |
Other regressors as in Table 4. Differences in sample sizes across wealth measures are due to trimming households in the top and bottom 0.05% of the wealth distribution. Standard errors clustered at the household level in parentheses. ***, ** and * indicate significance at the 1%, 5% and 10% level, respectively.