Trigger Fingers?
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Many Americans say they would reduce their buying of stocks for their retirement accounts if the U.S. market falls 20% or more, according to a survey by Boston-based John Hancock Mutual Life Insurance Co.
About half of the 801 people surveyed said they would either transfer money out of stocks or put less of future contributions in stocks if the market falls 20%.
The results indicate most Americans are “more infatuated with stocks than committed to them,” said Wayne Gates, director of Hancock’s pension unit.
On the other hand, the market did fall nearly 20% late last summer, as measured by the Standard & Poor’s 500 stock index. Most Americans didn’t make a move--perhaps because the market didn’t stay down for long.
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