Investors in the Lone Star State are Texas tough, with an overwhelming majority making no changes to their retirement s in the midst of head-spinning market volatility, according to new data released by BlackRock on Thursday.
As tariff policy whipsawed global asset prices in April and May, the world’s largest asset manager surveyed 500 ed voters in Texas, and found that a whopping 79% made absolutely no changes to their portfolios amid the carnage.
In fact, a small number (11%) bought the dip by allocating more money to their s — proving the age-old adage that asset price drops can be buying opportunities in disguise.
Meanwhile, respondents appear to be big believers in the “Texas miracle,” with 74% of those surveyed saying the Lone Star State economy is better at bouncing back from downturns than the rest of the U.S. at large.
Between March 31 and April 4 alone, the S&P 500 index shed roughly 9% as investors reacted badly to historically high tariffs, culminating in a 19% drop from its February peak to April’s trough. Yet since then, major indices have all but reversed their losses, with the S&P and Nasdaq within striking distance of record highs.
According to BlackRock, respondents were roughly split on the question of whether market declines made them more likely to invest because stocks were cheaper.
Still, BlackRock’s figures showed that large swaths of Texans are still concerned about having enough money for retirement, emblematic of the widespread anxiety aging workers are experiencing as they inch closer to their golden years.
In a measure of those jitters, BlackRock reported that approximately 50% of Lone Star State residents between the ages of 55 and 64 (or those closest to retirement), check their investments at least once a month.
Nearly 40% of the poll’s participants worry about their retirement savings at least once a day, and 42% said they’d rather keep working their entire lives than risk running short of money. A slim 26% have more than $150,000 in retirement money, while 27% have none at all.