A new survey has indicated that more younger Americans have given up investing due to losses incurred in the stock market, Reuters reports.

The survey, sponsored by the Mainstay Funds unit of New York Life Investment Management, found that 59% of investors between the ages of 22 to 36 owned investments outside of their retirement plans, down from 70% in 2002.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.