NEW YORK, April 9, 2015 /PRNewswire/ -- Despite the potential of receiving strong returns on their savings, the majority of Americans are avoiding making investments in the stock market. According to a new study by Bankrate.com (NYSE: RATE), 52% of Americans are currently not investing in stocks. 

More than half (53%) of Americans who don't invest in the market cite lack of money as the reason.  Surprisingly, Millennials were the age group least likely to give that response (42%), versus those aged 65+ (58%) who state they lack the savings to invest. 

Other deterrents to investing in stocks include, not knowing enough about stocks to invest (21%), lack of trust in stock brokers or advisers (9%), the stock market is too risky (7%) and fear of high fees (2%).

"Stocks aren't only for the rich; even if you start small, investing in stocks through mutual funds or ETFs can help you build wealth over the long term," said Claes Bell, CFA, Bankrate.com banking analyst.  "The key is to have an investment plan in place that aligns your investments with your risk tolerance and goals."

With the availability of online accounts, Americans are able to watch their investments more closely.  However, most investors (32%) are only checking their investments or retirement accounts once a month.

Bank account holders appear to be more diligent about checking their funds online. 31% say they do that once a week and 28% say they look at least once per day. Millennials check more often than other age groups: 43% say they look at their banking information online at least once a day, and 38% say they log in once a week. 

The survey was conducted by Princeton Survey Research Associates International (PRSAI) and can be seen in its entirety here:

http://www.bankrate.com/finance/consumer-index/money-pulse-0415.aspx

The PSRAI March 2015 Omnibus Week 3 obtained telephone interviews with a nationally representative sample of 1,001 adults living in the continental United States. Telephone interviews were conducted by landline (500) and cell phone (501, including 300 without a landline phone). The survey was conducted by Princeton Survey Research Associates International (PSRAI). Interviews were done in English and Spanish by Princeton Data Source from March 19 to 22, 2015. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is ± 3.7 percentage points.

About Bankrate, Inc.

Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, CreditCards.com, InsuranceQuotes.com and Caring.com, our flagship websites, and other owned and operated personal finance websites, including Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, CarInsuranceQuotes.com, Insweb.com, CreditCards.ca, and NetQuote.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of over 600 local markets, Bankrate generates rate tables in all 50 U.S. states. Bankrate develops and provides web services to over 100 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.

For more information:
Kayleen Yates
Senior Director, Corporate Communications
kyates@bankrate.com
(917) 368-8677

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SOURCE Bankrate, Inc.