Ex Post Evaluation of the Retirement Decision
| Retirement Regret | |||||
|---|---|---|---|---|---|
| (1) | (2) | (3) | (4) | (5) | |
| Inconsistency indicator | 0.188 | ||||
| (0.07)*** | |||||
| Number inconsistent answers | 0.097 | 0.097 | 0.097 | 0.079 | |
| (0.04)*** | (0.04)** | (0.04)** | (0.04)** | ||
| Impatience | 0.001 | −0.005 | −0.006 | ||
| (0.02) | (0.02) | (0.02) | |||
| Actual retirement age | 0.000 | −0.002 | |||
| (0.01) | (0.01) | ||||
| Age | −0.001 | −0.000 | |||
| (0.01) | (0.01) | ||||
| Gender | −0.100 | −0.061 | |||
| (0.13) | (0.14) | ||||
| Married | −0.037 | −0.088 | |||
| (0.10) | (0.11) | ||||
| Number of children | 0.004 | 0.000 | |||
| (0.03) | (0.03) | ||||
| Education | −0.018 | 0.016 | |||
| (0.04) | (0.04) | ||||
| Retirement benefits [log] | 0.030 | 0.025 | |||
| (0.02) | (0.02) | ||||
| Satisfaction retirement benefits | −0.059 | −0.072 | |||
| (0.02)*** | (0.02)*** | ||||
| Risk aversion | 0.019 | ||||
| (0.02) | |||||
| Loss aversion | 0.002 | ||||
| (0.02) | |||||
| Financial literacy | −0.046 | ||||
| (0.04) | |||||
| Life expectancy | 0.003 | ||||
| (0.00) | |||||
| Private pension insurance | −0.048 | ||||
| (0.07) | |||||
| Constant | 0.150 | 0.161 | 0.156 | 0.412 | 0.506 |
| (0.03)*** | (0.03)*** | (0.07)** | (0.57) | (0.74) | |
| R2 | 0.043 | 0.042 | 0.036 | 0.082 | 0.099 |
| Observations | 185 | 185 | 185 | 167 | 158 |
Notes: The table shows the results of five linear probability models (OLS) with the indicator retirement regret as the dependent variable. Robust standard errors are displayed in parentheses. Significance: *p < 0.1, **p < 0.05, ***p < 0.01.