The new research follows a [survey](https://buildcommonwealth.org/news-item/the-blackrock-foundation-and-commonwealth-research-reveals-majority-of-low-and-moderate-income-americans-now-invest-in-capital-markets) conducted in January 2025 by the BlackRock Foundation and Commonwealth that found more than half, 54%, of low- and moderate-income Americans were investing in the retail capital markets. More than half of those investors began investing in the past five years, according to the results.
That survey, which included 2,750 respondents, focused on households with annual incomes of $30,000 to $79,999.
Strong stock market highs in recent years have made [many Americans richer](https://www.cnbc.com/2025/11/12/ai-stock-boom-wealth-gap.html). Individuals who do not have money in the markets have been shut out of those gains.
In 2025, 62% of Americans said they own stock, according to [Gallup](https://news.gallup.com/poll/266807/percentage-americans-owns-stock.aspx), unchanged from 2024 and up from 61% in 2023.
Those most likely to own stocks include adults in households that earn $100,000 or more, college graduates and married adults, according to Gallup. Those less likely to own stocks include unmarried adults, individuals with a high school education or less and households earning less than $50,000, the analytics and advisory firm found.
Likewise, a January 2025 [survey](https://www.philadelphiafed.org/-/media/FRBP/Assets/Consumer-Finance/Briefs/Why-Some-Americans-Dont-Invest-in-the-Stock-Market.pdf) conducted by the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia found 57% of 5,000 adults surveyed said they do not own any stock. The most common reasons cited by respondents for why were a lack of available funds for investing and a lack of knowledge about the stock market.
Without access to investments, particularly stocks, individuals may miss out on [compound growth](https://www.cnbc.com/2025/08/16/age-to-start-saving-for-retirement.html), where returns build on both the initial amount invested and the gains that accumulate.
