|By PR Newswire||
|February 23, 2012 07:00 AM EST||
WHITING, Ind., Feb. 23, 2012 /PRNewswire/ -- Even with the stock market soaring, many Americans report they continue they still have reservations about investing in the stock market. Nearly four-in-ten (39 percent) U.S. adults report they don't currently have any types of financial investments, like 401(k)s or IRA retirement accounts, mutual funds or stocks. In addition, 61 percent of U.S. adults said they have reservations about investing in the stock market. Their concerns include not having enough money to invest (32 percent), not trusting the stock market (26 percent), thinking it's too complicated (17 percent) and being unsure of how to get started (11 percent). This survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin from February 7th-9th, 2012, among 2,339 U.S. adults ages 18 and older.
Even though many U.S. adults report they don't have financial investments, they are still keeping an eye on the market. Fifty-five percent of U.S. adults said they follow the stock market in some capacity, with one-quarter (25 percent) reporting they track its ups and downs at least once a week. When it comes to young adults, there was a significant difference between men and women. Fifty-nine percent of men ages 18-34 said they follow the stock market compared to 30 percent of women ages 18-34.
In addition, Americans aged 18-34 are the highest age group to report that they don't have financial investments. In fact, nearly three-in-four (73 percent) U.S. adults ages 18-34 said they don't currently invest in retirement accounts such as a 401 (k) or IRA, while more than half (55 percent) of those ages 18-34 said they don't have any financial investments at all.
"It's been a challenging few years for Americans of all ages and financial standing," said Jackie Warrick, President and Chief Savings Officer at CouponCabin.com. "As a result, many Americans have shied away from investing in the stock market. Among the reasons is complexity, as 35 percent of people we surveyed said they would be more likely to invest money in the market if it were less complicated."
While some Americans report they are intimidated by the complexity of the market, others said if the economy were more stable they would be more likely to invest.
- 39 percent said they were much or somewhat more likely to invest money in the market if the economy were more stable.
- 46 percent said they weren't any more or less likely to invest if the economy were more stable.
- 15 percent said they were much/somewhat less likely to invest.
Regardless of apprehensions in investing in the stock market, many U.S. adults said they would be open to learning more about the process. Forty-three percent would be at least somewhat likely to consider taking a course or class to learn more about the stock market and investments.
Warrick offers the following tips for beginning investors:
Dig into the basics: What's the difference between a stock and mutual fund? First, you'll want to become familiar with investing terms and language so you're clear on what everything means. That way, you know where your money is going. Hop online and or pick up an investing basics book to get you started.
Join a club: Many communities have stock market clubs and local organizations that bring together different levels of investors, whether you're a novice or an expert. Do a quick Internet search to see if there's a local group that fits your needs.
Speak up: Ask friends, family and colleagues for advice on finding resources to get you started, such as a broker recommendation or online resources they use. Don't forget to ask your HR department if your company has a program or recommendations in place to help beginning investors.
This survey was conducted online within the United States by Harris Interactive on behalf of CouponCabin from February 7th-9th, 2012, among 2,339 U.S. adults ages 18 and older. This online survey is not based on a probability sample and therefore, no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact: Allison Nawoj, firstname.lastname@example.org.
CouponCabin.com is a leading online destination for coupons including online coupon codes, printables, grocery coupons and more. Shoppers have saved nearly $250 million since 2003 and with the largest selection of coupons guaranteed to work, CouponCabin is the best place to start searching for savings. The average user saves $19 in just 80 seconds on the site. With customized email newsletters, browser savings alerts, new coupon alerts and more, shoppers will never miss out on a great deal with CouponCabin. For more information, please visit http://www.CouponCabin.com.
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