Table 3.

Saving Regret and Current and Future Financial Situation

			Saving Regret (After Revision)
	N	In percent	Mean	Std. Error	T-test
Panel A. Current wealth and income
Wealth quartiles
Lowest	211	13.3	0.719	0.035	ref
2	207	13.0	0.659	0.038	ns
3	210	13.2	0.554	0.033	***
Highest	205	12.9	0.389	0.030	***
Missing	756	47.6	0.589	0.018	***
Income quartiles
Lowest	393	24.7	0.674	0.028	ref
2	404	25.4	0.627	0.027	ns
3	379	23.8	0.568	0.025	***
Highest	389	24.4	0.464	0.021	***
Missing	26	1.6	0.634	0.108	ns
Panel B. Household income is sufficient to meet spending needs each month
Yes, always	698	43.9	0.445	0.018	ref.
Most of the time	669	42.1	0.671	0.019	***
Rarely or never	223	14.0	0.765	0.031	***
Panel C. Financial resources to meet future needs
More than enough to meet your future needs	328	20.7	0.310	0.023	ref.
Just enough to meet your future needs	522	32.8	0.589	0.021	***
Not enough to meet your future needs	238	15.0	0.792	0.027	***
Not nearly enough to meet your future needs	132	8.3	0.826	0.036	***
Uncertain	273	17.2	0.617	0.032	***
Don’t know	96	6.0	0.563	0.061	***

Note: We report the mean of saving regret and the standard error of the mean, pooling respondents across the two question formats for saving regret (unframed and framed). The t-test refers to a t-test of the indicated category vs. the reference category (ref). ns= not significant

^*p<0.05

^**p<0.01

^***p<0.001.

Data are weighted.