Okay? That's less that 16% of Americans. That supports my point.The stock market being at record highs positively effects millions of Americans with 401k's. That's all I'm saying.
Category Approximate Number Americans with 401(k) accounts ~ 60 million 401(k) participants exposed to stocks (90%) ~ 54 million
The stock market has been at record highs under almost all modern presidents with Clinton and Obama having the best annualized returns.