Wednesday, May 08, 2013

Dow 15,000: So What?

The Dow may have closed above 15,000 for the first time ever, but that doesn't matter to nearly half the population. The percentage of Americans who own stock is at a low, according to Gallup's Economy and Finance Survey, which has been measuring the level of stock ownership since 1998. In April 2013, only 52 percent of Americans owned stock personally or jointly with a spouse, either directly or in a mutual fund or self-directed retirement account. This figure is down from a high of 65 percent in 2007.

Here is the percentage of Americans who owned stock in April 2013 by age (and the percentage point decline in ownership since 2008)...

Aged 18 to 29:  27% (-6)
Aged 30 to 49:  58% (-14)
Aged 50 to 64:  61% (-10)
Aged 65-plus:  57% (-6)

Source: Gallup, U.S. Stock Ownership Stays at Record Low

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