Table 4. Chi-Square Analysis of Age Group and Selected Characteristics of Nonretired Households in the 2001 Survey of Consumer Finances (N = 3,428) [In percent]

Table 4. Chi-Square Analysis of Age Group and Selected Characteristics of Nonretired Households in the 2001 Survey of Consumer Finances (N = 3,428) [In percent]
Variable	Generations X and Y	Younger Boomers	Older Boomers	Swing Cohort	P-value
Holding one or more retirement accounts	45.38	66.41	72.92	68.93	< 0.0001
Not holding an account	54.62	33.59	27.08	31.07
Risk tolerance:					0.0007
No financial risk	33.65	27.13	25.66	25.24
Average financial risk	36.49	38.61	43.86	44.17
Above average financial risk	22.75	27.32	25.11	24.11
High risk	7.11	6.93	5.37	6.47
Saver	73.70	83.49	87.28	84.95	< 0.0001
Not a saver	26.30	16.51	12.72	15.05
Time plan for saving:					< 0.0001
Few months or less than a year	21.56	14.61	12.83	9.06
Next year	15.64	8.54	7.89	7.93
Next few years	28.32	23.72	21.60	25.73
5 to 10 years	18.25	27.99	31.36	38.51
Longer than 10 years	16.23	25.14	26.32	18.77
White	68.25	77.89	81.36	86.25	< 0.0001
Nonwhite	31.75	22.11	18.64	13.75
Married	39.81	63.85	67.54	69.74	< 0.0001
Not married	60.19	36.15	32.46	30.26
Presence of children	50.47	67.65	44.63	10.19	< 0.0001
No children	49.53	32.35	55.37	89.81
Self-employed	8.65	26.57	33.88	47.73	< 0.0001
Not self-employed	91.35	73.43	66.12	52.27
Spending exceeds income	22.04	17.55	12.94	12.78	< 0.0001
Spending equal to income	41.11	31.02	27.85	23.79
Spending less than income	36.85	51.42	59.21	63.43
Homeowner	29.74	64.23	74.89	75.57	< 0.0001
Not a homeowner	70.26	35.77	25.11	24.43	< 0.0001