Most Americans are unaware that the stock market is booming, according to a new Gallup poll. The S&P 500 gained 30% in 2013, yet only 7% of those polled knew that, and only 52% believe now is a good time to invest in stocks.
Here’s what respondents said when asked:
This has important implications for HR pros who manage retirement benefits. While it’s never appropriate for you to offer investment advice to 401(k) or 403(b) plan participants, there’s nothing wrong with providing information that will help your employees make smart choices for themselves.
Ask your retirement plan provider for educational materials—print or electronic—that explain today’s investment landscape. Pass them along for your employees to use.