84% of all stocks owned by Americans belong to the wealthiest 10% of households

[Va Lefty]

“For the vast majority of Americans, fluctuations in the stock market have relatively little effect on their wealth, or well-being, for that matter,” said Edward N. Wolff, an economist at New York University who recently published new research on the topic."

https://www.nytimes.com/2018/02/08/business/economy/stocks-economy.html

[onecaliberal]

1. But but but the economy is good!!!!

[democratisphere]

2. ........for the wealthiest top 10%.

Most are living pay check to pay check hoping nothing expensive comes along.

[onecaliberal]

3. Exactly, but you don't hear that from repukes or dump.

[pwb]

4. The high paid news and money talkers can't say that.

If they were paid an average salary like most of us the news would be very different. The wealthy owners of news realized this and made them all millionaire news talkers instead of reporters.

[ck4829]

5. A fine addition to the "Oracle of the Dow" page being worked on. Check it out...

http://rw-infopedia.pbworks.com/w/page/117407481/Oracle%20of%20the%20Dow

[Laura PourMeADrink]

6. Hmmm...means few have work 401 k plan? Or is it just the wealth $$ that's skewing

it? Every single employee at the 150 person bank I am working with now has a 401 k which could definitely have stock in it. these are not wealthy people except the executives.

Wonder how they know this. They cross reference stock ownership records to salary/net worth?

[panader0]

8. According to this article only 32% of people have 401ks.

[mythology]

9. No it doesn't

About 80% of U.S. workers work for an employer who offers a 401k. Only about 40% of employees contribute. A lot of that is probably due to the tyranny of the default and few companies automatically sign you up for it and people don't actively choose to change it.

[panader0]

12. Oops, I forgot to link the article:

I'll bet most white collar jobs offer one, but I know no one who has one.


https://www.fool.com/retirement/2017/06/19/does-the-average-american-have-a-401k.aspx

[Laura PourMeADrink]

16. ya...numbers on all this squishy and take time to understand. If your employer

offers and you don't contribute - then your balance is zero. And since many in some form match your contribution - they wouldn't push contribution. All this, coupled with the fact that many many people live paycheck to paycheck - the thought of reducing their take home is out of the question.

[Laura PourMeADrink]

10. That's incredibly sad. There will be a lot more destitute

people in the years ahead - trying to live on just SS. And who knows what will happen with that goes broke and GOP won't fix it.

It sure would have been good to tie the corporate tax cut to a requirement to offer plans to employees. Over the years - companies focus on how they can look good every day - and employee benefits the easy way to make earnings look good. I think instant business news can be blamed for a lot of it. Long ago, people had to pick up the newspaper and see how much their stock was worth.

[panader0]

7. Another link:

https://www.washingtonpost.com/posteverything/wp/2017/03/02/perspective-on-the-stock-market-rally-80-of-stock-value-held-by-top-10/?utm_term=.b675599686d6

[Laura PourMeADrink]

11. This doesn't really surprise me - rich people can afford to buy stock

The non-rich people typically can not - unless they have a stock plan through their employer and it grows incrementally. 401k. It is the businesses who stopped helping promote this.

[panader0]

13. Most of the people I know are poor.

Retired or semi-retired construction guys. I was a bricklayer for 40+ years.
There is a whole world of people who scrape by, barely making it.
Thank goodness I bought land and built my own house. I do fine without
stock or portfolios or 401ks. I'll still be able to leave my kids more than
my dad left me.

[Laura PourMeADrink]

14. You were smart - Real Estate ! I was just reading about how much

defined benefit pension plans have declined over the years. That is the way a lot of people in my parents generation survived just fine during retirement....working for the same company for many years. It was an old chart - but in 1990 35% of employees were in pension plans, 2011 about 17%....no telling what it is now.

[Stinky The Clown]

15. . . . . . and water is wet.

I hope this came as no surprise to anyone.

[Laura PourMeADrink]

17. Sounds corny - but what ever happened to public service announcements? I think

long ago, the government raised consciousness about important things. Don't litter. Don't start fires. Save your money. Etc. Etc.

There should be one now - "Even if you only save a small amount for retirement or contribute to your company's 401k, if they have one - TRUST us - when you retire it may mean you will be eating or not."

On edit: Add "And we are not fucking kidding ! We are not talking about you going on a cruise at retirement - we are talking you may not even be able to eat each day"