Table 10

Planned Retirement Age SAVE Survey

Panel A	Full Panel	Smoker			Nonsmoker
		All	Age > 40	Age > 50	All	Age > 40	Age > 50
	(1)	(2)	(3)	(4)	(5)	(6)	(7)
Wave	−0.093	−0.197	−0.256	−0.321	−0.036	−0.055	−0.085
	(0.05)^*	(0.09)^**	(0.12)^**	(0.15)^**	(0.05)	(0.06)	(0.09)
Health status	0.010	−0.011	0.006	0.046	−0.012	−0.014	0.125
	(0.03)	(0.06)	(0.06)	(0.08)	(0.04)	(0.05)	(0.05)^**
Satisf. health	−0.100	0.028	−0.003	−0.074	−0.165	−0.131	−0.094
	(0.14)	(0.27)	(0.28)	(0.34)	(0.15)	(0.14)	(0.18)
Prolonged illness	0.083	−0.067	−0.198	−0.403	0.19	0.122	−0.073
	(0.13)	(0.25)	(0.32)	(0.53)	(0.14)	(0.15)	(0.2)
Constant	65.572	66.696	67.091	67.681	64.883	64.961	64.702
	(0.56)^***	(1.15)^***	(1.46)^***	(2.29)^***	(0.55)^***	(0.58)^***	(0.78)^***
R²	0.003	0.007	0.011	0.033	0.003	0.003	0.014
Obs	4,043	1,449	990	436	2,594	1,802	952
Panel B	Full Panel	Overdraft = 1			Overdraft = 0
		All	Age > 40	Age > 50	All	Age > 40	Age > 50
	(1)	(2)	(3)	(4)	(5)	(6)	(7)
Wave	−0.093	−0.111	−0.183	−0.236	−0.086	−0.098	−0.125
	(0.05)^*	(0.09)	(0.11)^*	(0.15)	(0.06)	(0.07)	(0.09)
Health status	0.010	0.049	−0.021	0.093	−0.038	0.005	0.112
	(0.03)	(0.06)	(0.06)	(0.09)	(0.04)	(0.05)	(0.05)^**
Satisf. health	−0.100	−0.249	−0.238	−0.199	−0.008	−0.014	−0.026
	(0.14)	(0.25)	(0.21)	(0.28)	(0.16)	(0.18)	(0.2)
Prolonged illness	0.083	0.031	−0.051	−0.047	0.101	0.015	−0.281
	(0.13)	(0.18)	(0.18)	(0.29)	(0.18)	(0.22)	(0.32)
Constant	65.572	65.616	66.579	65.726	65.591	65.360	65.721
	(0.56)^***	(0.93)^***	(1.08)^***	(1.43)^***	(0.69)^***	(0.85)^***	(1.28)^***
R²	0.003	0.006	0.008	0.022	0.002	0.002	0.014
Obs.	4,043	1,356	924	411	2,687	1,868	977

Notes: The table shows the results of seven fixed-effects panel regressions with planned retirement age in years as the dependent variable. Data used for the analysis come from SAVE 2008, 2009, 2010, and 2011, encoded in the variable wave. All variables are as defined in the Appendix. All five imputations of the SAVE data are used. Coefficients and standard errors are calculated according to Rubin (1987). Significance: ^*p < 0.1, ^**p < 0.05, ^***p < 0.01.