If you have a 401(K) and have taken a glance at a quarterly statement, you’ve probably noticed some nice gains over the past couple of years.
At least that’s the case for those who have taken the time to do a little research. But a new Gallup poll says most Americans are not fully aware of the Bull Market that’s been running for quite a while.
Precisely, most Americans don’t realize the stock market gained 30 percent last year, and only 1 in 9 call themselves savvy about investing, according to the survey.
Gallup reports that 37 percent of those polled thought the market increased 10 percent in 2013. Actually, the S&P 500’s total return was 32 percent in 2013.
Just 7 percent recognized the 30 percent gain. Shockingly, 9 percent thought stocks actually decreased.
The results are not surprising when considering the mistrust Americans have in the stock market since the financial crisis of six years ago.
When those surveyed were hypothetically given an extra $10,000 in cash, 41 percent said they would put the cash in the stock market. But 36 percent opted for cash and 20 percent chose a near-zero yielding certificate of deposit.
The sample audience for the survey wasn’t exactly random non-investors. The Wells Fargo/Gallup Investor and Retirement Optimism Index poll asked questions of investors with at least $10,000 in stocks, bonds, mutual funds or in retirement programs such as a 401(k) or IRA.