The stock market is doing relatively well considering that we're in a recession. But that won't help Americans hardest hit by the pandemic.
at the end of 2007 would be worth around $265,000 today, according to data provided by Morningstar Direct.Just around 40% of American households with incomes between $22,000 and $49,000 a year have money invested in the stock market, according to theAmong those bringing in more than $90,000 a year? Nearly 90% are invested in the market.
The vast majority of stocks is held by the wealthy, who are and will be weathering the pandemic just fine.More than 80% of all U.S. stocks are owned by the richest 10% of American households, according to calculations by Wolff.By comparison, among U.S. households with a net worth below $16,000, just 8% own stocks.More than 57% of white households own stocks, compared with 30% of Black households, according to the researchers at Boston College.
And the average white household in the U.S. owns around $230,000 in stocks, compared to $17,000 for Black households, Wolff found.Related Tags
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