Dr Boyce Watkins: Most Americans don’t invest in the stock market and it’s a horrible thing
While doing my research for the course, I ran across a startling statistic: According to a survey done by Bankrate.com, more than half (52%) of all Americans own no stock at all. This includes those who invest with their 401k and other retirement plans.
This statistic shocked, frightened, disappointed, intrigued and even excited me. I’ll explain. The shock, fear and disappointment came from the fact that those who choose not to participate in the stock market are literally missing out on massive amounts of wealth that is being created on a daily basis. The stock market has been on an ABSOLUTE TEAR over the past few years, and anyone who has invested in a large batch of stocks over any 20 – year period in American history has always ended up with far more money than they started off with.
This result intrigued me because it made me think about all of the reasons that people avoid and fear the stock market. Most of these reasons are irrational, but it’s easy to fear something we don’t understand. Also, when most Americans don’t buy stock, it only increases the gap in wealth between the rich and everyone else.
Finally, the study’s results excited me because THIS IS A HUGE opportunity for black folks. By teaching each other and our children how to get invested in the stock market, we can take the lead on other communities that have a fear of investing.
My PhD is in Finance. I can help you. I’ve taught stock market investing to thousands of students in the past, many of whom are experts on Wall Street right now. My entire dissertation involved analyzing millions of bytes of data on the stock market, so I know what the heck I’m talking about.
It’s really not that difficult to invest, and I can teach you how to buy stock by spending $5 and $10 at a time.
Dr Boyce Watkins is the founderof*The Black Business School and The Black Wealth Bootcamp. To learn more, please visit BlackFinancialLiteracy.com*