Data on stock ownership not whole picture
While a Gallup poll this year indicated about 62% of Americans own stocks, the numbers are not quite what they seem. Many people may have retirement money in a 401(k) or sock away savings in an investment account of some kind. Far fewer actually own shares. Federal Reserve data says direct ownership is about 21%. Much of that can be traced to increases in apps that make it easy to buy and sell even the smallest amounts. But financial services company Motley Fool reports the wealthiest 1% of Americans hold 50% of all stock while the bottom 50% hold 1%. That’s a graphic ...