Experts: Stocks Soar, Most Americans Uninterested
Written by Phyllis Smith
Last updated on July 06, 2014 @ 7:40PM
Created on July 06, 2014 @ 10:44AM
According to financial experts, there's another reason to celebrate this July Fourth holiday weekend.The stock market is putting out record highs this summer. There's a catch though. Experts said many of you don't seem to be interested.
According to a report, just 15% of families directly owned stocks four years ago. Although millions of us can access the market through retirement accounts and other assets, many aren't doing so. In fact, the majority of you have no money in the stock market at all.
According to one survey, half of you avoid it completely. Kim Peterson, a financial blogger, said many of you have drifted away from the market over the years. This could be for any number of reasons. You could feel burned by the financial crisis or the economic recession.
"There's a reason that people feel so disconnected from Wall Street. Only a fraction of Americans directly own stocks and they tend to be wealthier," said Peterson.
One man said he's not interested in buying stocks right now.
"The stock market goes up and down and it can change at any second. It could be profitable today. It could be unprofitable tomorrow. We live in a world of uncertainty right now, so we have to let things stabilize before we can take an aggressive approach," said John Miller, an Elkins resident.
Experts said the stock market surge has helped the wealthiest the most. This advance is causing concern for some economists. They said this shows that inequality in the U.S. is increasing.
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