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> 53% of Americans own publicly traded stock, but that means that 47% do not

Does that include 401(k)s and pensions?




Yes. 401(k)s but not pensions. The latter are defined benefit programs where participants are not responsible for making investment decisions.


Very probably, yes. I'd be shocked if more than 60% of Americans even have a 401k/pension, let alone one with any meaningful sum invested.




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