With the stock market hitting near daily highs, is now the time to buy?
US stocks may be hitting new highs on nearly a daily basis, but many Americans aren't enjoying the benefits of the rally.
Stock ownership among Americans is at a record low. Just 52 percent of US adults say they or their spouse own any stocks, either individually or through funds, according to Gallup which began tracking this in 1998.
The sharpest decline is among middle-income Americans, those earning between $30,000 and $75,000 a year. In 2008, about 66 percent of middle-class Americans owned stocks, compared just 50 percent now.
The Gallup poll was conducted in April, after the Dow and S&P 500 rose beyond 2007 levels to new records. The percentage of overall Americans who own stocks has been falling steadily since the financial crisis.
According to Gallup, part of the reason fewer Americans are invested in stocks may be due to their inability to buy in, because of unemployment or tighter family budgets.
If you're one of these many Americans without stock or maybe you're looking to buy more, is now the time to jump in? Financial advisor John Shrewsbury from Genwealth joined Scott Inman with some insight.
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