More Americans are opting not to stash away their disposable income or spend it on goods and services, but rather are investing it in the stock market.
In contrast, some 43% of consumers put money into a savings account in the fourth quarter of last year, down six percentage points from the second quarter. It also comes as many retail investors opened brokerage accounts on platforms like Robinhood during the GameStop rollercoaster stock saga GME, +2.54% driven in part by a subgroup on Reddit calledWallStreetBets.
A portion of Americans are finding themselves “with more disposable income and fewer ways to spend it” because of pandemic restrictions, he added.
With more people investing in the stock market since the pandemic, the stock prices should rise which is always a good thing when making money. Now is a great time to start investing. MC385
Learn to trade this volatile market from transparent traders here