Despite the potential of receiving strong returns on their savings, the majority of Americans are avoiding making investments in the stock market. According to a new study by Bankrate.com, 52% of Americans are currently not investing in stocks.  

More than half (53%) of Americans who don't invest in the market cite lack of money as the reason.  Surprisingly, Millennials were the age group least likely to give that response (42%), versus those aged 65+ (58%) who state they lack the savings to invest.  

Other deterrents to investing in stocks include, not knowing enough about stocks to invest (21%), lack of trust in stock brokers or advisers (9%), the stock market is too risky (7%) and fear of high fees (2%).

"Stocks aren't only for the rich; even if you start small, investing in stocks through mutual funds or ETFs can help you build wealth over the long term," said Claes Bell, CFA, Bankrate.com banking analyst.  "The key is to have an investment plan in place that aligns your investments with your risk tolerance and goals."

With the availability of online accounts, Americans are able to watch their investments more closely.  However, most investors (32%) are only checking their investments or retirement accounts once a month.

Bank account holders appear to be more diligent about checking their funds online. 31% say they do that once a week and 28% say they look at least once per day. Millennials check more often than other age groups: 43% say they look at their banking information online at least once a day, and 38% say they log in once a week.  

The survey was conducted by Princeton Survey Research Associates International (PRSAI) and can be seen in its entirety here: http://www.bankrate.com/finance/consumer-index/money-pulse-0415.aspx