3 Reasons Why Smart Americans Are Staying Invested Now
A recently released survey by Bankrate revealed that 66% of Americans with retirement accounts or investment portfolios hadn't touched their investments or adjusted their asset allocations in this period of historic stock market volatility.
Further, the survey of 1,175 investors -- conducted between March 20 and March 24 -- found that 13% contributed more to their accounts and only 11% moved money out of their investments. Millennials were the most likely to have contributed more to their accounts: 24% of them have added funds, compared to 13% of Generation Xers, and 5% of baby boomers. But millennials were also the most likely to have moved money out of stock investments; 15% of them reallocated funds out of equities, compared to 12% of Gen Xers and 8% of boomers.
"Americans are cutting their spending, but they're not bailing on stocks despite an unprecedented drop of more than 30 percent," Greg McBride, chief financial analyst at Bankrate, wrote.
Source Fool.com
