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Only half of Americans invest in stocks, and here are some reasons why
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Roughly half of all Americans do not invest in the stock market. Millennials invest in stock at half that rate. - photo by Matthew Jelalian
A recently published BankRate.com survey discovered roughly half of all working Americans and 75 percent of millennials do not own any stock or 401(k) plans.

For adults under 30, only 26 percent of whom said they own stock, the consequences could be profound, wrote BankRate. Young people who don't invest in equities early are set to have a lot less money later on, says John Salter, associate professor of financial planning at Texas Tech University.

The important question is, why are Americans generally and young Americans specifically not investing their money?

A lack of funds is the biggest thing hampering young peoples willingness to invest, reported MarketWatch. According to 42 percent of survey respondents under 30, the main reason theyre not investing in the stock market is because they dont have enough money. This group has been plagued by unemployment and underemployment in the wake of the Great Recession. Thats been compounded by staggering levels of student debt, making it difficult for young people to establish a steady income that leaves room for saving.

The lack of funds is followed by a lack of know-how regarding the investing process.

They just dont know a lot about it, wrote MarketWatch reporter Jillian Berman. Theyre just coming out of college or out of high school. There arent very many formal opportunities to learn about this stuff.

The third largest reason why people choose not to invest is they do not trust Wall Street.

"So you'd expect to see more people with some money in the stock market, Claes Bell, banking analyst for Bankrate.com, told USA Today. But we had two big market shocks in recent memory. The bubble burst in tech stocks around 2000, and of course the financial crisis. So part of that probably comes from mistrust of the markets and people not having the funds to invest right now.''

This lack of investment is particularly troubling when one considers that a diversified, long-term stock portfolio makes for one of the most effective investment strategies to prepare for retirement in the future.

"I think the vast majority of people should have stocks as part of a mix of investments,'' Bell said. "Over the last five years, if you invested in a broad market index of U.S. stocks, you have basically doubled your money between dividends and rising stock prices. That's a huge opportunity for people to build wealth and security for their retirement over the long term.''
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Record April boosts Savannah's container trade at port
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The Port of Savannah moved 356,700 20-foot equivalent container units in April, an increase of 7.1 percent. - photo by Provided

The Georgia Ports Authority's busiest April ever pushed its fiscal year-to-date totals to more than 3.4 million 20-foot equivalent container units (TEUs), an increase of 8.8 percent, or 280,000 TEUs, compared to the first 10 months of fiscal 2017.

"We're on track to move more than 300,000 TEUs in every month of the fiscal year, which will be a first for the authority," said GPA Executive Director Griff Lynch. "We're also anticipating this to be the first fiscal year for the Port of Savannah to handle more than 4 million TEUs."

April volumes reached 356,700 20-foot equivalent container units, up 7.1 percent or 23,700 units. As the fastest growing containerport in the nation, the Port of Savannah has achieved a compound annual growth rate of more than 5 percent a year over the past decade.

"As reported in the recent economic impact study by UGA's Terry College of Business, trade through Georgia's deepwater ports translates into jobs, higher incomes and greater productivity," said GPA Board Chairman Jimmy Allgood. "In every region of Georgia, employers rely on the ports of Savannah and Brunswick to help them become more competitive on the global stage."

To strengthen the Port of Savannah's ability to support the state's future economic growth, the GPA Board approved $66 million in terminal upgrades, including $24 million for the purchase of 10 additional rubber-tired gantry cranes.  

"The authority is committed to building additional capacity ahead of demand to ensure the Port of Savannah remains a trusted link in the supply chain serving Georgia and the Southeast," Lynch said.

The crane purchase will bring the fleet at Garden City Terminal to 156 RTGs. The new cranes will support three new container rows, which the board approved in March. The additional container rows will increase annual capacity at the Port of Savannah by 150,000 TEUs.

The RTGs will work over stacks that are five containers high and six deep, with a truck lane running alongside the stacks. Capable of running on electricity, the cranes will have a lift capacity of 50 metric tons.

The cranes will arrive in two batches of five in the first and second quarters of calendar year 2019.

 Also at Monday's meeting, the GPA Board elected its officers, with Jimmy Allgood as chairman, Will McKnight taking the position of vice chairman and Joel Wooten elected as the next secretary/treasurer.

For more information, visit gaports.com, or contact GPA Senior Director of Corporate Communications Robert Morris at (912) 964-3855 or rmorris@gaports.com.

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