Panel Study of Income Dynamics

2001 Interview Year

Section W: Wealth and Active Savings

Computer Assisted Interview Documentation


Go to W1

W1

IF RESPONDENT is (7)

The next questions I will be asking are designed to give estimates of the wealth of families in the United States and how this has changed in the last two years. In these questions when I refer to the family, I mean the family for which you are answering.


[IWER: THIS IS A PROXY R, PLEASE REPHRASE QUESTIONS SO THAT THEY
REFER TO THE FAMILY UNIT ONLY AND NOT THE PROXY R.]

Do [you/you or your family] have any real estate other than your main home, such as a second home, land, rental real estate, or money owed to you on a land contract?

ELSE

The next questions I will be asking are designed to give estimates of the wealth of families in the United States and how this has changed in the last two years. In these questions when I refer to you and your family, I mean your family living there with you.

Do [you/you or your family] have any real estate other than your main home, such as a second home, land, rental real estate, or money owed to you on a land contract?

END

1 YES
5 NO
8 DK
9 RF


If W1 is (5 or DK or RF) then go to W6

W1a

Does that include a second home?

1 YES
5 NO
8 DK
9 RF

W2

If you sold all that and paid off any debts on it, how much would you realize on it?



If W2 is (not equal to DK and not equal to RF) then go to W6

W3

Would it amount to $50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W3 is (5) then go to W5
If W3 is (DK or RF) then go to W6

W4

$150,000 or more?

1 YES
5 NO
8 DK
9 RF


If W4 is (not equal to " " ) then go to W6

W5

$5,000 or more?

1 YES
5 NO
8 DK
9 RF

W6

What is the value of what [you/you or anyone in your family] own on wheels? Including personal vehicles you may have already told me about and any cars, trucks, a motor home, a trailer, or a boat -- what are they worth all together, minus anything you still owe on them?



If W6 is (not equal to DK and not equal to RF) then go to W10

W7

Would it amount to $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W7 is (5) then go to W9
If W7 is (DK or RF) then go to W10

W8

$25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W8 is (not equal to " " ) then go to W10

W9

$2,000 or more?

1 YES
5 NO
8 DK
9 RF


W10

Do [you/you or anyone in your family] own part or all of a farm or business?

1 YES
5 NO
8 DK
9 RF


If W10 is (5 or DK or RF) then go to W15

W11

If you sold all that and paid off any debts on it, how much would you realize on it?



If W11 is (not equal to DK and not equal to RF) then go to W15

W12

Would it amount to $50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W12 is (5) then go to W14
If W12 is (DK or RF) then go to W15

W13

$200,000 or more?

1 YES
5 NO
8 DK
9 RF


If W13 is (not equal to " " ) then go to W15

W14

$10,000 or more?

1 YES
5 NO
8 DK
9 RF


W15

Do [you/you or anyone in your family] have any shares of stock in publicly held corporations, mutual funds, or investment trusts -- not including stocks in employer-based pensions or IRAs?

1 YES
5 NO
8 DK
9 RF


If W15 is (5 or DK or RF) then go to W21

W16

If you sold all that and paid off anything you owed on it, how much would you have?



If W16 is (not equal to DK and not equal to RF) then go to W21

W17

Would it amount to $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W17 is (5) then go to W20
If W17 is (DK or RF) then go to W21

W18

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W18 is (5 or DK or RF) then go to W21

W19

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W19 is (not equal to " " ) then go to W21

W20

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


W21

Do [you/you or anyone in your family] have any money in private annuities or Individual Retirement Accounts (IRAs)?

1 YES
5 NO
8 DK
9 RF


If W21 is (5 or DK or RF) then go to W27

W21a

Are they mostly in stocks, mostly in interest earning assets, split between the two, or what?

1 MOSTLY STOCKS
2 MOSTLY INTEREST EARNING
3 SPLIT
8 DK
9 RF

W22

How much would they be worth?



If W22 is (not equal to DK and not equal to RF) then go to W27

W23

Would it amount to $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W23 is (5) then go to W26
If W23 is (DK or RF) then go to W27

W24

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W24 is (5 or DK or RF) then go to W27

W25

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W25 is (not equal to " " ) then go to W27

W26

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


W27

Do [you/you or anyone in your family] have any money in checking or savings accounts, money market funds, certificates of deposit, government savings bonds, or treasury bills -- not including assets held in employer-based pensions or IRAs?

1 YES
5 NO
8 DK
9 RF


If W27 is (5 or DK or RF) then go to W33

W28

If you added up all such [accounts/accounts for all of your family], about how much would they amount to right now?



If W28 is (not equal to DK and not equal to RF) then go to W33

W29

Would it amount to $5,000 or more?

1 YES
5 NO
8 DK
9 RF


If W29 is (5) then go to W32
If W29 is (DK or RF) then go to W33

W30

$10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W30 is (5 or DK or RF) then go to W33

W31

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W31 is (not equal to " " ) then go to W33

W32

$1,000 or more?

1 YES
5 NO
8 DK
9 RF


W33

Do [you/you or anyone in your family] have any other savings or assets, such as bond funds, cash value in a life insurance policy, a valuable collection for investment purposes, or rights in a trust or estate that you haven't already told us about?

1 YES
5 NO
8 DK
9 RF


If W33 is (5 or DK or RF) then go to W38

W34

If you sold that and paid off any debts on it, how much would you have?



If W34 is (not equal to DK and not equal to RF) then go to W38

W35

Would it amount to $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W35 is (5) then go to W37
If W35 is (DK or RF) then go to W38

W36

$25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W36 is (not equal to " " ) then go to W38

W37

$2,000 or more?

1 YES
5 NO
8 DK
9 RF


W38

Aside from the debts that we have already talked about, like any mortgage on your main home or vehicle loans -- do [you/you or anyone in your family] currently have any other debts such as credit card charges, student loans, medical or legal bills, or loans from relatives?

1 YES
5 NO
8 DK
9 RF


If W38 is (5 or DK or RF) then go to W43

W39

If you added up all these [debts/debts for all of your family], about how much would they amount to right now?



If W39 is (not equal to DK and not equal to RF) then go to W43

W40

Would it amount to $2,000 or more?

1 YES
5 NO
8 DK
9 RF


If W40 is (5) then go to W42
If W40 is (DK or RF) then go to W43

W41

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


If W41 is (not equal to " " ) then go to W43

W42

$1,000 or more?

1 YES
5 NO
8 DK
9 RF


W43

IF TYPE OF IW is (1)

These next questions are about changes in your wealth since we last interviewed you, .
January
February
March
April
May
June
July
August
September
October
November
December 1999. In these questions, when I refer to you I mean you and any family members living with you during that time.

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or your family] put aside money in any private annuities or IRAs?

ELSE

These next questions are about changes in your wealth during the last two years. In these questions, when I refer to you I mean you and any family members living with you during that time.

Since January 1999, did [you/you or your family] put aside money in any private annuities or IRAs?

END

1 YES
5 NO
8 DK
9 RF


If W43 is (5 or DK or RF) then go to W48

W44

How much did that amount to?



If W44 is (not equal to DK and not equal to RF) then go to W48

W45

Was it $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W45 is (5) then go to W47
If W45 is (DK or RF) then go to W48

W46

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W46 is (not equal to " " ) then go to W48

W47

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


W48

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] cash in any part of a pension, private annuity, or IRA?

ELSE

Since January 1999, did [you/you or anyone in your family] cash in any part of a pension, private annuity, or IRA?

END

1 YES
5 NO
8 DK
9 RF


If W48 is (5 or DK or RF) then go to W54

W49

How much did that amount to, not including any penalities or costs?



If W49 is (not equal to DK and not equal to RF) then go to W54

W50

Was it $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W50 is (5) then go to W53
If W50 is (DK or RF) then go to W54

W51

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W51 is (5 or DK or RF) then go to W54

W52

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W52 is (not equal to " " ) then go to W54

W53

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


W54

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] sell any home you were using as your main dwelling?

ELSE

Since January 1999, did [you/you or anyone in your family] sell any home you were using as your main dwelling?

END

1 YES
5 NO
8 DK
9 RF


If W54 is (5 or DK or RF) then go to W59

W55

About how much was the selling price, net of any commissions?

IF TYPE OF IW is (1)


[IF R SOLD MORE THAN ONE MAIN HOME, ASK ABOUT THE ONE OWNED IN .
January
February
March
April
May
June
July
August
September
October
November
December 1999.]

ELSE


[IF R SOLD MORE THAN ONE MAIN HOME, ASK ABOUT THE ONE OWNED IN
JANUARY 1999.]

END



If W55 is (not equal to DK and not equal to RF) then go to W59

W56

Was it $60,000 or more?

1 YES
5 NO
8 DK
9 RF


If W56 is (5) then go to W58
If W56 is (DK or RF) then go to W59

W57

$120,000 or more?

1 YES
5 NO
8 DK
9 RF


If W57 is (not equal to " " ) then go to W59

W58

$30,000 or more?

1 YES
5 NO
8 DK
9 RF


W59

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] buy any real estate other than your main home, such as a vacation home, land, or rental property?

ELSE

Since January 1999, did [you/you or anyone in your family] buy any real estate other than your main home, such as a vacation home, land, or rental property?

END

1 YES
5 NO
8 DK
9 RF


If W59 is (5 or DK or RF) then go to W64

W60

Altogether, how much money did [you/you or anyone in your family] put into that?



If W60 is (not equal to DK and not equal to RF) then go to W64

W61

Was it $60,000 or more?

1 YES
5 NO
8 DK
9 RF


If W61 is (5) then go to W63
If W61 is (DK or RF) then go to W64

W62

$120,000 or more?

1 YES
5 NO
8 DK
9 RF


If W62 is (not equal to " " ) then go to W64

W63

$30,000 or more?

1 YES
5 NO
8 DK
9 RF


W64

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] sell any real estate other than your main home, such as a vacation home, land, or rental property?

ELSE

Since January 1999, did [you/you or anyone in your family] sell any real estate other than your main home, such as a vacation home, land, or rental property?

END

1 YES
5 NO
8 DK
9 RF


If W64 is (5 or DK or RF) then go to W69

W65

Altogether, how much money did [you/you or anyone in your family] get from that?



If W65 is (not equal to DK and not equal to RF) then go to W69

W66

Was it $60,000 or more?

1 YES
5 NO
8 DK
9 RF


If W66 is (5) then go to W68
If W66 is (DK or RF) then go to W69

W67

$120,000 or more?

1 YES
5 NO
8 DK
9 RF


If W67 is (not equal to " " ) then go to W69

W68

$30,000 or more?

1 YES
5 NO
8 DK
9 RF


W69

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or your family] make additions or improvements totaling $10,000 or more to any homes or other real estate [you/any of you] owned? Do not count general maintenance or upkeep.

ELSE

Since January 1999, did [you/you or your family] make additions or improvements totaling $10,000 or more to any homes or other real estate [you/any of you] owned? Do not count general maintenance or upkeep.

END

1 YES
5 NO
8 DK
9 RF


If W69 is (5 or DK or RF) then go to W73

W70

What was the total dollar cost of the additions or improvements, plus the value of any work you may have done yourself?



If W70 is (not equal to DK and not equal to RF) then go to W73

W71

Was it $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W71 is (5 or DK or RF) then go to W73

W72

$75,000 or more?

1 YES
5 NO
8 DK
9 RF


W73

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] put money into a business or farm?

ELSE

Since January 1999, did [you/you or anyone in your family] put money into a business or farm?

END

1 YES
5 NO
8 DK
9 RF


If W73 is (5 or DK or RF) then go to W78

W74

Altogether, how much money did [you/you or anyone in your family] put into that?



If W74 is (not equal to DK and not equal to RF) then go to W78

W75

Was it $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W75 is (5) then go to W77
If W75 is (DK or RF) then go to W78

W76

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W76 is (not equal to " " ) then go to W78

W77

$10,000 or more?

1 YES
5 NO
8 DK
9 RF


W78

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] sell part or all of your interest in a business or farm?

ELSE

Since January 1999, did [you/you or anyone in your family] sell part or all of your interest in a business or farm?

END

1 YES
5 NO
8 DK
9 RF


If W78 is (5 or DK or RF) then go to W83

W79

Altogether, how much money did [you/you or anyone in your family] get from that?



If W79 is (not equal to DK and not equal to RF) then go to W83

W80

Was it $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W80 is (5) then go to W82
If W80 is (DK or RF) then go to W83

W81

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W81 is (not equal to " " ) then go to W83

W82

$10,000 or more?

1 YES
5 NO
8 DK
9 RF


W83

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] buy any shares of stock in publicly held corporations, mutual funds, or investment trusts, including any automatic reinvestments -- not including any IRAs?

ELSE

Since January 1999, did [you/you or anyone in your family] buy any shares of stock in publicly held corporations, mutual funds, or investment trusts, including any automatic reinvestments -- not including any IRAs?

END

1 YES
5 NO
8 DK
9 RF


If W83 is (5 or DK or RF) then go to W96

W84

Did [you/you or anyone in your family] also sell any such assets?

1 YES
5 NO
8 DK
9 RF


If W84 is (5 or DK or RF) then go to W91

W85

Did you buy more or sell more -- that is, on balance, did you put money into stocks, mutual funds, or investment trusts, take money out of them, or put about as much in as you took out?

1 PUT IN MONEY
2 TOOK OUT MONEY
3 PUT IN ABOUT AS MUCH AS TOOK OUT
8 DK
9 RF


If W85 is (3 or DK or RF) then go to W102

W86

About how much money did [you/you or anyone in your family] [put in/take out]?



If W86 is (not equal to DK and not equal to RF) then go to W102

W87

Was it $20,000 or more?

1 YES
5 NO
8 DK
9 RF


If W87 is (5) then go to W90
If W87 is (DK or RF) then go to W102

W88

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W88 is (5 or DK or RF) then go to W102

W89

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W89 is (not equal to " " ) then go to W102

W90

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


If W90 is (not equal to " " ) then go to W102

W91

Altogether, how much money did [you/you or anyone in your family] put in?



If W91 is (not equal to DK and not equal to RF) then go to W102

W92

Was it $20,000 or more?

1 YES
5 NO
8 DK
9 RF


If W92 is (5) then go to W95
If W92 is (DK or RF) then go to W102

W93

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W93 is (5 or DK or RF) then go to W102

W94

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W94 is (not equal to " " ) then go to W102

W95

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


If W95 is (not equal to " " ) then go to W102

W96

IF TYPE OF IW is (1)

Since .
January
February
March
April
May
June
July
August
September
October
November
December 1999, did [you/you or anyone in your family] sell any shares of stock in publicly held corporations, mutual funds, or investment trusts?

ELSE

Since January 1999, did [you/you or anyone in your family] sell any shares of stock in publicly held corporations, mutual funds, or investment trusts?

END

1 YES
5 NO
8 DK
9 RF


If W96 is (5 or DK or RF) then go to W102

W97

Altogether, how much money did [you/you or anyone in your family] get from that?



If W97 is (not equal to DK and not equal to RF) then go to W102

W98

Was it $20,000 or more?

1 YES
5 NO
8 DK
9 RF


If W98 is (5) then go to W101
If W98 is (DK or RF) then go to W102

W99

$50,000 or more?

1 YES
5 NO
8 DK
9 RF


If W99 is (5 or DK or RF) then go to W102

W100

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W100 is (not equal to " " ) then go to W102

W101

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


W102

IF TYPE OF IW is (1)

Sometimes changes in a family's savings or assets are due to people joining or leaving the family. Was there anyone living with you in MONTH OF PREVIOUS WAVE IW 1999 who doesn't live with you now and who took $5,000 or more in assets or debts away with them?

ELSE

Sometimes changes in a family's savings or assets are due to people joining or leaving the family. Was there anyone living with you in January 1999 who doesn't live with you now and who took $5,000 or more in assets or debts away with them?

END

1 YES
5 NO
8 DK
9 RF


If W102 is (5 or DK or RF) then go to W112

W103

Altogether, what is the total dollar value of the assets that were removed that way?



If W103 is (not equal to DK and not equal to RF) then go to W108

W104

Was it $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W104 is (5) then go to W107
If W104 is (DK or RF) then go to W108

W105

$25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W105 is (5 or DK or RF) then go to W108

W106

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W106 is (not equal to " " ) then go to W108

W107

$5,000 or more?

1 YES
5 NO
8 DK
9 RF

W108

Altogether, what is the total dollar value of debts that were removed that way?



If W108 is (not equal to DK and not equal to RF) then go to W112

W109

Was it $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W109 is (5) then go to W111
If W109 is (DK or RF) then go to W112

W110

$25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W110 is (not equal to " " ) then go to W112

W111

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


If Q51 is (not equal to 001 and not equal to 101) and Q58 is (1 or 4) then go to W113 [Assign the value "1" to the skipped questions.]

W112

1 SOMEONE BESIDES HEAD IN CURR FU
5 ONLY HEAD

Automatic CAI System Calculation: 5X


If W112 is (5) then go to W123

W113

IF TYPE OF IW is (1)

Is there someone in your family living with you now who has joined the family since .
January
February
March
April
May
June
July
August
September
October
November
December 1999 and who had $5,000 or more in assets or debts at the time they joined the family?

ELSE

Is there someone in your family living with you now who has joined the family since January 1999 and who had $5,000 or more in assets or debts at the time they joined the family?

END

1 YES
5 NO
8 DK
9 RF


If W113 is (5 or DK or RF) then go to W123

W114

Altogether, what is the total dollar value of assets that were brought into the family that way?



If W114 is (not equal to DK and not equal to RF) then go to W119

W115

Was it $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W115 is (5) then go to W118
If W115 is (DK or RF) then go to W119

W116

$25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W116 is (5 or DK or RF) then go to W119

W117

$100,000 or more?

1 YES
5 NO
8 DK
9 RF


If W117 is (not equal to " " ) then go to W119

W118

$5,000 or more?

1 YES
5 NO
8 DK
9 RF

W119

Altogether, what is the total dollar value of debts that were brought into the family that way?



If W119 is (not equal to DK and not equal to RF) then go to W123

W120

Was it $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W120 is (5) then go to W122
If W120 is (DK or RF) then go to W123

W121

$25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W121 is (not equal to " " ) then go to W123

W122

$5,000 or more?

1 YES
5 NO
8 DK
9 RF


W123

Some people's assets come from gifts and inheritances. During the last two years, have [you/you or anyone in your family] received any large gifts or inheritances of money or property worth $10,000 or more?

1 YES
5 NO
8 DK
9 RF


If W123 is (5 or DK or RF) then go to Q1940

W124

What year did you receive that?


YEAR


IWER: CODE 9997 FOR NOT YET


If W124 is (9997) then go to W128

W125

How much was it worth altogether, at that time?



If W125 is (not equal to DK and not equal to RF) then go to W128

W126

Would it amount to $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W126 is (5 or DK or RF) then go to W128

W127

$75,000 or more?

1 YES
5 NO
8 DK
9 RF


W128

Did you receive any other large gifts or inheritances of money or property in the last two years?

1 YES
5 NO
8 DK
9 RF


If W128 is (5 or DK or RF) then go to Q1940

W129

What year did you receive that?


YEAR


IWER: CODE 9997 FOR NOT YET


If W129 is (9997) then go to W133

W130

How much was it worth altogether, at that time?



If W130 is (not equal to DK and not equal to RF) then go to W133

W131

Would it amount to $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W131 is (5 or DK or RF) then go to W133

W132

$75,000 or more?

1 YES
5 NO
8 DK
9 RF


W133

Any other large gifts or inheritances in the last two years?

1 YES
5 NO
8 DK
9 RF


If W133 is (5 or DK or RF) then go to Q1940

W133a

What year did you receive that?


YEAR


IWER: CODE 9997 FOR NOT YET


If W133a is (9997) then go to Q1940

W133b

How much was it worth altogether, at one time?



If W133b is (not equal to DK and not equal to RF) then go to Q1940

W133c

Would it amount to $25,000 or more?

1 YES
5 NO
8 DK
9 RF


If W133c is (5 or DK or RF) then go to Q1940

W133d

$75,000 or more?

1 YES
5 NO
8 DK
9 RF


Q1940

CAI System Placeholder Question


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