Stock Ownership Rate Collapses
One way to support consumption is to sell your stocks. Many did just that.
A May 2017 Gallup survey shows U.S. Stock Ownership Down Among All but Older, Higher-Income.
Here's the Gallup question: Do you, personally, or jointly with a spouse, have any money invested in the stock market right now -- either in an individual stock, a stock market fund, or in a self-directed 401(k) or IRA?
Heading into retirement, only 54% of those 65 or older own "any" stocks, down from 62% in 2008.