this post was submitted on 14 Apr 2025
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Flawless strategy (lemmy.world)
submitted 6 days ago by [email protected] to c/[email protected]
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[–] [email protected] 36 points 6 days ago* (last edited 5 days ago) (2 children)

Only something like what...33% of families have money in the stock market?

The bottom 60ish% have literally no savings whatsoever.

Edit: I was a little overzealous when I said "Literally no savings whatsoever"; it's not literally no savings - but it's something like people with less than $500 for emergencies and stuff.

[–] [email protected] 8 points 5 days ago (2 children)
[–] CileTheSane 2 points 4 days ago (1 children)

So 38% have literally zero? That's horrifying.

[–] [email protected] 1 points 4 days ago

How about the overdrafted from buying a couple gallons of gas people. Where you at ?! 👋

I'm going to start smoking two packs of newports a day again. Life was so much better then

[–] [email protected] 6 points 5 days ago* (last edited 5 days ago) (2 children)

You linked me to a site that I have to have a subscription to see the data - so I can't verify your claim.

https://www.pewresearch.org/short-reads/2024/03/06/a-booming-us-stock-market-doesnt-benefit-all-racial-and-ethnic-groups-equally/

This statement by pew research says:

Only 21% of American families own shares directly, according to the SCF. Even fewer own “pooled investment funds” – such as mutual funds and exchange-traded funds (ETFs) – or other investment vehicles that typically include stocks among their holdings.

[–] [email protected] 7 points 5 days ago

"my" numbers include 401k, pension funds, etc. Pew is looking at people owning things more directly.

[–] [email protected] 4 points 5 days ago

Pensions, 401Ks, and other retirement accounts are ask in the market, and even when I worked retail my company had a retirement savings plan that they contributed a few bucks a month towards.

There's actually a ton on phantom retirement investments out there people don't even know they have.

[–] MadMadBunny 1 points 5 days ago

Nono, many have absolutely no savings also