Political Quotes

“My colleagues, this week we found that for the first time in our Nation's history, more than half of all American families have invested in the stock market. I think that is enormously significant. For years, certainly when I was growing up, we thought of the stock market as something only the wealthy cared about. And for the most part, it was. As late as 1982, fewer than 15 percent of all American households held stocks, bonds, or mutual funds. Right now, the number is 52 percent. Today, the working class and the investor class are one and the same. It is these new entrants into the investment markets that H.R. 2269, the Retirement Security Advice Act, is meant to help. We have seen an explosion in the number of 401(k) plans and IRAs, defined contribution plans in which the employee decides how much to invest and how to invest. As we see from this chart next to us, more than 48 million Americans participate in defined contribution plans today. These plans offer great opportunities for investors, but they also pose many risks. The best way to maximize opportunities and to minimize risk is to have access to high-quality investment advice.”