For decades, many financial experts championed the idea that equities are hands-down the best place an investor could put their money. After all, stocks have historically offered the highest long-run returns, and the proliferation of mutual funds and retirement vehicles grounded in the markets has familiarized the American public to the idea of owning equity.
But new data from Pew Research suggests that more than half (53 percent) of Americans have absolutely no money in the stock market, including retirement accounts. This reality is often overlooked when people make judgements about the relative health of the economy and what that means for Main Street. The recent stock market highs have not been affecting everybody.