More than half of Americans (55%) say they don't invest in the stock market, according to a survey by MetLife.
The company surveyed 8,000 U.S. adults over the age of 18. Those ages 18 to 34 are more likely to opt out of investing.
More women (59%) than men (44%) don't invest.
But, according to CNBC, Americans who have a retirement plan don't seem to realize they are actually investing, not just saving. A third of people surveyed by MetLife said they had a retirement plan.
Fear is one factor for people avoiding investing. Everyone knows the markets go up and down. The fear is you put your hard-earned savings into the market and lose it all. But, the fact is, the stock market has returned 10 percent annually over the last 100 years. Compare that to a savings account that returns much less than 1 percent.
To start investing, set goals. If you need the money in five years or less, use high-interest savings accounts or CDs.
For long-term goals, buy ETFs or Index funds.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
