Do You Own Stocks?
Per a Gallop poll in April 2025, 62% of Americans own stock individually or in mutual funds in retirement accounts. Fortunately, that is 1% higher than a poll done in 2023. The highest percentage of stock investors was in the households with incomes of $100,000 plus, which is not surprising.
So, does that mean the other 38% are not invested in anything? Most likely, since their income is lower than average. In 2023, the average income in the United States was just under $40,000. That is an average, which means there were many more less than those who were higher. That is a statistical fact.
From my own experience and observations, the lower the income the higher the odds are for gambling than stock investing. The success of state lottery ticket sales is based on the will to gamble when there is little to invest.
Low Income and Low Investments
Low income is a concern, but improvements cannot be legislated unless training is involved. If you get a chance to support a program that supports training for people who are willing to make positive career changes, you should support it.
However, most changes will have to come from individual effort with a focus on improvement to skills and working knowledge.
Low income is a problem. But there are options to do better. Start by applying for jobs that pay better. It is a numbers game. If you knock on enough doors, someone will answer. Finding another job is hard work. Do not fool yourself into thinking you are the only candidate for any job. Read to learn how to do cover letters, build a resume, and do interviews. Listen to what employers are looking for. Then, make sure you are ready to produce the outcome they want.
Please note, though, that even with low income, people find ways to gamble. Maybe $2 or $10 per week can add up to $8 or $40 per month. What if they chose to open an investment account, instead, and use that money to make contributions instead. That is how I started my investing mindset by turning my gambling habits into investing habits.
Start with a low number as a contribution to your investment account. You do not need to make a stock purchase until you are ready and have enough in the account to make the purchase you want to make. You can start with as little as one share. You may have low income, so be a low investor!
Are the Cards Stack
You may think of stock investing as a form of gambling. And, in a way, that is correct. You are gambling that a company will become a success. But some are not well-managed and lose value.
The stock market is fickle. The general feeling of security can affect the market. So, when news is positive the market goes up. When the news is troubling then the market goes down. So, expect fluctuations in stock prices. That is normal. The key is not to overreact!
Yes, you may lose money with poor choices, at first. Make that a lesson. Did you research the company or just act on a rumor? My advice is to look around you for successful products and the companies behind them and consider buying their stock.
Some stocks will be priced out of your comfort zone. So, accumulate contributions until you can buy one or more shares of the stocks you want to buy. At least you will have more money to show for your effort than trashing those losing lottery tickets!
Reverse Your Course
If your income and financial decisions have brought you stability and adequate savings to invest and avoid debt, then, reading this blog post may be a waste of your time.
However, if you are struggling to make ends meet and have trouble keeping money in the bank, you need to make some changes. You need to reverse your course!
Jim Rhone used to advise facing the winds of difficulty by setting a better sail. I never sailed a boat, but I do know they must pay attention to the wind force and direction and make necessary adjustments to the sail, to stay on course.
Are you paying attention to your course? My hope is that you will try to build a better mindset for money, and set a course for a better way of life.
Build a Better Mindset for Money
If you had good examples to follow with money management, you would tend to do well. If not, be careful to look for better ways to make good financial decisions.
Build a better mindset for money!
A better income will make mistakes less painful with the ability to recover faster. Work on ways to increase your income.
Better spending decisions often come from delaying the purchase. Be patient. Get the facts. Ask, do you need that now? Qualify what you need versus what you want.
Make saving a priority. It will help you avoid debt and allow funds to be available to invest. And investing is how you will build wealth.
Start Small to Accumulate
Accumulation requires a long-range plan. It takes focus and patience. And that is hard for many people.
Think long-range. Add $40 per month to your investment account. That is $480 per year. Did you add that much to your savings account in the past year? If so, you are getting a good mindset!
If you are persistent, you can add more. However, with no change in contributions, you will have added $4,800 over 10 years. Have you added that much to savings or investments over the past 10 years? Many have not!
A little effort can add a lot to your plan to accumulate funds. But you must guard those funds from your desire to have fun in the short term.
Work on Fun Funds
I know that many consider gambling exciting. To some it is just the cost of entertainment. And, on occasion, they win enough to keep them doing it. However, they fail to count the cost.
I consider good stewardship of your money as comparing the cost to benefit of your spending decisions.
Time is always a factor. What I do today will affect how well I eat tomorrow!
I prefer the philosophy that having a lot is better than having nothing.
How is your philosophy about money working? Do you need to change your financial course?
Work on accumulation. Learn to invest. Later in life, they can become your fun funds!