The amount of boomers investing in the stock market keeps growing, says The Wall Street Journal, citing a recent Gallup poll. Americans age 65 and older are the only age group whose stock ownership rates have risen since the crisis of 2008, with nearly two-thirds from the cohort owning individual stocks, mutual funds or retirement savings accounts, according to the April survey. Boomers, many of whom started investing in the 1980s, “came of age at the start of a secular bull market,” Bolvin Wealth Management Group’s Gina Bolvin tells the Journal. And with life expectancy rising, many are funding their retirement through stock investments.
- Baby boomers hold 56% of the country’s household corporate-equities and mutual-fund wealth, according to Federal Reserve data.
By Jessica Hartogs, Editor at LinkedIn News
Boomers Got Hooked on Stocks. Now They Can’t Let Go.
By Amit Bansal
📢 Exciting read! 📚
Did you know that older Americans, especially baby boomers, are holding onto their investments in the stock market? 📈📊
According to a recent Gallup survey, nearly two-thirds of U.S. adults aged 65 and older still own stocks through individual stocks, mutual funds, or retirement savings accounts. 📊✨
This trend defies conventional financial wisdom, which suggests reducing stock exposure as individuals age. However, the prolonged period of stock market gains, coupled with low interest rates, has made stocks an attractive investment option for many retirees. 💼💰
The article highlights how the baby boomer generation, who experienced multiple market crashes, also witnessed subsequent recoveries, reinforcing their belief in stocks as safe investments. Additionally, advancements in technology and the accessibility of index funds have made it easier for older investors to navigate the stock market. 💡💻
While rising interest rates make bonds and cash more appealing, many older Americans are reluctant to part ways with their stock market investments. 🤝💼
Check out the full article for more insights! 🗞️👇
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