If you’re scared of jumping into the stock market, you’re not alone. A recent study from Nationwide showed that investors of all stages of life aren’t just skittish about the market, but they often fear diving into stocks more than diving from the sky.
In fact, they even fear it more than death.
A few highlights of the study, which surveyed 800 investors from various age groups:
- 74% of Generation Y members polled were extremely afraid of investing in the stock market — higher than the percentage who feared skydiving (73%), public speaking (61%), losing their jobs (67%) and even dying (71%).
- Across all categories, 62% of respondents were very afraid of investing in the stock market — nearly twice as scared as they were of losing their job, and four percentage points higher than death.
- Overall, the biggest financial fear is that there will be another crisis, with the skyrocketing cost of healthcare not far behind.
- Generation Y’s biggest fear, though, is that they won’t be able to finance their children’s college education.
I had a chance to chat with Mike Spangler — the Nationwide Funds Group president — about the overwhelming fear investors feel. His take: Most folks are still feeling the hangover from the crash of 2008, are turned off by market volatility and geopolitical unrest … all while they are increasingly on their own when it comes to money management.
Listen to the full podcast above, and let us know what your biggest investing fears are in the comments section below.
Like what you see? Sign up for our Young Investors e-letter and get practical investing advice delivered to your inbox every week!