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It's nice that you have such a great perspective on who "everyone" is. It's self-reported and thus probably well underestimated, but only 55% of Americans say t
by tclancy 7y ago
It's nice that you have such a great perspective on who "everyone" is. It's self-reported and thus probably well underestimated, but only 55% of Americans say they own stock[0]. And 84% of the total stock belongs to 10% of the people[1].
[0] https://www.financialsamurai.com/what-percent-of-americans-own-stocks/ https://www.financialsamurai.com/what-percent-of-americans-o...
[1] https://www.nytimes.com/2018/02/08/business/economy/stocks-economy.html https://www.nytimes.com/2018/02/08/business/economy/stocks-e...
- titzer 7y agoI upvoted this comment to counter apparent downvotes, specifically because it is short and cited actual data and had references. Come on, hackernews. We can do better than downvoting informative comments.
- refurb 7y agoLooks like “owning stock” in your data doesn’t include thing like pensions (public or private). A lot of people own stock indirectly.
- tclancy 7y agoAgreed, that's why I said it was "probably well underestimated"; but even then if 20% of Americans don't have $500 in savings[0], it feels like "everyone" is at best something between 50-80%. [0] https://www.marketwatch.com/story/half-of-americans-are-just-one-paycheck-away-from-financial-disaster-2019-05-16 https://www.marketwatch.com/story/half-of-americans-are-just...