How Many Americans Own Stock?

📊 As of 2025, approximately 61% of Americans own stock in some form — a figure that reflects a modest recovery in public market participation since the 2008 financial crisis, which saw a dip in investor confidence and ownership.

Ownership is broadly defined and includes:

  • Individual stocks

  • Mutual funds

  • Exchange-traded funds (ETFs)

  • Retirement accounts like 401(k)s and IRAs

This means nearly 2 in 3 Americans are exposed to the stock market in some way — but the depth and impact of that ownership vary significantly.


📉 Stock Ownership Disparities

Despite the widespread appearance of stock ownership, the distribution of wealth invested in the stock market is highly unequal. According to recent data:

🏦 Wealth Concentration

  • The top 10% of U.S. households own about 93% of all stocks.

  • The top 1% alone owns over 54% of corporate equities and mutual fund shares.

This skew means that most Americans have some exposure to the market, but a tiny elite controls the vast majority of the equity wealth.


📊 Ownership by Demographics

đź’° By Income

Income Bracket % Who Own Stocks
$100,000+ 84%
$40,000 – $99,999 63%
Less than $40,000 29%

Wealthier households not only have more access to capital but also typically enjoy better financial education, advisory services, and tax-advantaged accounts that boost long-term returns.


👥 By Age

Age Group % Who Own Stocks
18–29 41%
30–49 67%
50–64 66%
65+ 63%

Older Americans are more likely to invest through retirement accounts like IRAs and 401(k)s, while younger generations face hurdles like student debt and housing costs that delay investment.


🎓 By Education

Education Level % Who Own Stocks
Postgraduate Degree 82%
College Graduate 78%
Some College 63%
High School or Less 41%

There’s a strong correlation between educational attainment and investment participation, often due to access to employer-sponsored plans and financial literacy.


🧑🏽‍🤝‍🧑🏻 By Race & Ethnicity

Group % Who Own Stocks
White (Non-Hispanic) 67%
People of Color 49%

Systemic issues — including income inequality, access to employer-sponsored retirement plans, and historical barriers to wealth-building — continue to affect investment access across racial lines.


đź’Ľ How Most Americans Invest

Most stock market participation happens indirectly through:

  • Employer-sponsored retirement accounts like 401(k)s or 403(b)s

  • Individual Retirement Accounts (IRAs)

  • Mutual funds within these accounts

📌 Only 21% of U.S. households own individual stocks directly — meaning the average American investor doesn’t pick stocks but invests passively through funds.


📉 Why This Matters

The disparity in stock ownership matters because:

  • The stock market is a key engine of wealth growth in the U.S.

  • Those who aren’t participating fall further behind as markets rise

  • Policies that affect capital gains, retirement tax breaks, and financial literacy disproportionately benefit higher-income investors


đź§­ Looking Ahead: The Challenge of Inclusive Investing

Improving equity in stock ownership may require:

  • Expanded access to retirement plans for part-time and gig workers

  • Better financial literacy education in schools and workplaces

  • Incentives or tax credits for lower-income households to invest

  • Addressing student loan debt and housing costs, which crowd out investment