. Author manuscript; available in PMC: 2022 Sep 23.

Published in final edited form as: J Econ Ageing. 2022 Feb 6;22:100371. doi: 10.1016/j.jeoa.2022.100371

Table 2.

Probability of Adjusted Money Income Being in Q1, Q2, or Q3 (vs. Q4) at Baseline (Logit Marginal Effects Reported): Original HRS cohort (in $2019)

	Quartiles of Adj. Money Income

	Q1 vs. Q4		Q2 vs. Q4		Q3 vs. Q4		Q1 vs. Q4		Q2 vs. Q4		Q3 vs. Q4

Age 52	0.003		0.014		−0.014		0.008		0.010		−0.015
	(0.020)		(0.025)		(0.023)		(0.021)		(0.025)		(0.023)
Age 53	0.007		0.038		−0.046	^*	0.013		0.039		−0.047	^*
	(0.019)		(0.025)		(0.022)		(0.020)		(0.026)		(0.022)
Age 54	0.019		0.010		−0.032		0.034		0.006		−0.038
	(0.020)		(0.025)		(0.023)		(0.022)		(0.026)		(0.024)
Age 55	0.024		0.040		−0.058	^**	0.027		0.034		−0.058	^*
	(0.021)		(0.026)		(0.022)		(0.022)		(0.027)		(0.023)
Age 56	0.013		0.040		−0.029		0.024		0.044		−0.034
	(0.020)		(0.026)		(0.023)		(0.022)		(0.027)		(0.024)
Age 57	0.036		0.016		−0.043		0.051	^*	0.013		−0.050	^*
	(0.022)		(0.026)		(0.023)		(0.023)		(0.027)		(0.023)
Age 58	0.045	^*	0.048		−0.049	^*	0.058	^*	0.040		−0.052	^*
	(0.022)		(0.028)		(0.024)		(0.024)		(0.028)		(0.025)
Age 59	0.038		0.070	^*	−0.055	^*	0.061	^*	0.058	^*	−0.064	^**
	(0.023)		(0.028)		(0.024)		(0.026)		(0.029)		(0.024)
Age 60	0.038		0.048		−0.048	^*	0.068	^**	0.042		−0.061	^*
	(0.022)		(0.028)		(0.024)		(0.026)		(0.028)		(0.024)
Age 61	0.073	^**	0.049		−0.054	^*	0.100	^**	0.041		−0.067	^*
	(0.028)		(0.031)		(0.027)		(0.031)		(0.032)		(0.027)
Male	−0.032	^**	−0.039	^**	0.046	^**	−0.039	^**	−0.033	^**	0.043	^**
	(0.008)		(0.009)		(0.009)		(0.009)		(0.011)		(0.010)
Black	0.111	^**	0.027		−0.057	^**	0.087	^**	0.035		−0.050	^**
	(0.015)		(0.017)		(0.017)		(0.016)		(0.019)		(0.018)
Race, others	0.047		0.004		0.012		0.021		−0.001		0.028
	(0.028)		(0.036)		(0.039)		(0.027)		(0.038)		(0.041)
Hispanic	0.153	^**	0.048		−0.113	^**	0.114	^**	0.060	^*	−0.102	^**
	(0.024)		(0.027)		(0.023)		(0.024)		(0.028)		(0.025)
Education years	−0.036	^**	−0.034	^**	0.007	^**	−0.027	^**	−0.033	^**	0.004
	(0.002)		(0.002)		(0.003)		(0.002)		(0.003)		(0.003)
Married	−0.295	^**	−0.042	^**	0.152	^**	−0.254	^**	−0.063	^**	0.146	^**
	(0.014)		(0.015)		(0.013)		(0.016)		(0.016)		(0.014)
#Marriages	−0.011		−0.008		0.003		−0.022	^**	−0.009		0.010
	(0.007)		(0.009)		(0.009)		(0.007)		(0.009)		(0.010)
#Children<18 yr	0.072	^**	0.054	^**	−0.035	^**	0.068	^**	0.056	^**	−0.035	^**
	(0.008)		(0.011)		(0.012)		(0.008)		(0.012)		(0.012)
Working for pay	−0.219	^**	0.004		0.106	^**	−0.117	^**	−0.018		0.062	^**
	(0.013)		(0.013)		(0.012)		(0.014)		(0.016)		(0.015)
Disabled	0.209	^**	−0.014		−0.102	^**	0.096	^**	−0.009		−0.056
	(0.035)		(0.036)		(0.038)		(0.029)		(0.043)		(0.046)
Poor health	0.015		0.002		−0.017		0.027		0.000		−0.024
	(0.019)		(0.023)		(0.023)		(0.020)		(0.024)		(0.024)
CESD score	0.015		0.014		0.012		0.026		0.009		0.005
	(0.017)		(0.022)		(0.022)		(0.018)		(0.022)		(0.022)
#Health problems	0.064	^**	−0.025		−0.006		0.056	^**	−0.028		−0.002
	(0.016)		(0.020)		(0.020)		(0.017)		(0.021)		(0.021)
Prob live to 75							0.074	^**	0.040	^*	−0.043	^*
							(0.015)		(0.018)		(0.018)
Covered by fed. Govt HI							0.005		0.007	^*	0.000
							(0.002)		(0.003)		(0.003)
Covered by priv. HI							0.010	^*	0.012	^*	−0.013	^*
							(0.004)		(0.006)		(0.006)
Covered by ER HI							−0.019		−0.010		−0.025
							(0.016)		(0.023)		(0.022)
Census region, northeast							−0.022		−0.093	^**	0.054	^*
							(0.013)		(0.021)		(0.026)
Census region, midwest							−0.238	^**	−0.019		0.139	^**
							(0.019)		(0.019)		(0.018)
Census region, south							−0.055	^**	−0.001		0.045	^**
							(0.012)		(0.013)		(0.012)

N					9,608						9,608
Pseudo R-sq					0.16						0.19

Dep. var. mean					2.59						2.59
Dep. var. st. dev.					1.11						1.11

Note: See Table 1.

p≤0.05

^**

p≤0.01.