Americans reluctant to invest

More than half of Americans (55%) say they don’t invest in the stock market, according to a survey by MetLife.

The company surveyed 8,000 U.S. adults over the age of 18. Those ages 18 to 34 are more likely to opt out of investing.

More women (59%) than men (44%) don’t invest.

But, according to CNBC, Americans who have a retirement plan don’t seem to realize they are actually investing, not just saving. A third of people surveyed by MetLife said they had a retirement plan.

Fear is one factor for people avoiding investing. Everyone knows the markets go up and down. The fear is you put your hard-earned savings into the market and lose it all. But, the fact is, the stock market has returned 10 percent annually over the last 100 years. Compare that to a savings account that returns much less than 1 percent.

To start investing, set goals. If you need the money in five years or less, use high-interest savings accounts or CDs.

For long-term goals, buy ETFs or Index funds.