Stock Markets Rise, but Half of Americans Don’t Benefit

stock bal

When the stock market does well people want to pickup their spending despite their stagnant wages and recent tax increases.

In its annual Economy and Finance survey, conducted April 4-14, Gallup found that 52 percent of Americans said they (personally or jointly with a spouse) owned stock outright or as part of a mutual fund or self-directed retirement account.  High unemployment seems to correlate with low stock ownership rates.

Research from Ulrike Malmendier and Stefan Nagel about the so-called “Depression babies” found that people who had experienced low stock market returns throughout their lives are less willing to take on financial risk, are less likely to take part in the stock market and invest a lower fraction of their liquid assets in stocks if they do take part.

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Picture by Fenacon – Federação Nacional das Empresas de Con

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