U.S. stock ownership is less than it was before the 2008 financial crisis, when the global economy suffered the worst decline in 80 years, according to a Gallup survey.
The percentage U.S. adults saying they owned stocks was 54 percent in April, compared with 62 percent before crisis.
“Adults 65 and older and those with an annual household income of $100,000 or more are two groups whose ownership rates have held firm,” according to Gallup.
The S&P 500 lost more than half of its value during the bear market that coincided with the Great Recession and 2008 financial crisis, with many investors responding by taking their money out of the market. Although the stock market rebounded to record highs this year, Gallup's data indicate that fewer Americans today are in a position to benefit from those gains.
Baby boomers’ steady stock ownership may reflect that the leading edge of baby boomers (those born between 1946 and 1952) who have moved into the 65-plus age category since the 2008 crisis. As a generation, baby boomers -- all of whom were in their prime working years during the economic boom of the 1980s and 1990s, and many of whom likely had 401(k)s at work -- have above-average rates of stock ownership, Gallup said..
The findings are based on combined data from Gallup's annual Economy and Personal Finance survey, conducted each April and including more than 18,000 U.S. adults since 2001. The survey asks U.S. adults whether they personally or jointly have money invested in the stock market, including in individual stocks and stock market funds such as 401(k)s and individual retirement accounts (IRAs).