May 25 (UPI) — A new survey finds U.S. stock ownership still remains below the levels seen prior to the 2008 financial crisis for all but older, wealthy Americans.
Prior to 2008, 62 percent of U.S. adults owned stocks as standalone investments or as part of a retirement fund such as a 401(k) or individual retirement account.
In 2017, that number stands at 54 percent. The only subgroup where stock ownership is higher than it was in 2008 is Americans 65 or older with household income of at least $100,000, according to the annual Gallup Economy and Personal Finance survey released Thursday.
Investors were pummeled during the recession when the U.S. stock market lost almost half of its total value. The nation’s major stock indexes have since rebounded to near-record levels as the economy and investment markets recovered, but many individual investors have yet to return.
The preference for other means of investing or saving for retirement is most noticeable among middle-class Americans with an annual income of between $30,000 and $75,000. Among that group, stock ownership has dropped an average 13 percentage points since 2008. The subgroup of upper middle-class earners from $75,000 to $100,000 remains on average 10 points lower in stock ownership than pre-recession levels.
The percentage of Americans earning $100,000 per year or higher who own stock is largely unchanged since the recession.
Gallup’s annual survey has been conducted each year since 2001. In total, 18,336 adults were polled. The results include a margin of error of 1 percentage point.
