Report
Why Some Americans Don’t Invest in the Stock Market
Akana, Tom; Drayton, Matthew; Lee, Amber (2025-09-30)
This report presents findings from the January 2025 LIFE Survey on stock market participation and explores the factors that discourage individuals from investing. We find that, among nonowners in the underrepresented groups, limited financial knowledge was reported as a major barrier to investing, significantly more often than nonowners from their demographic counterparts. Indeed, these group differences in subjective financial knowledge were reflected in an objective measure of financial literacy across the full sample, with individuals from underrepresented groups displaying lower levels of ...
Consumer Finance Institute Research Briefs and Special Reports