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This study examined characteristics of individual bond and stock holders, using data from the 1989 Survey of Consumer Finances. The results of the tobit models showed bonds and stocks are more likely to be held by families with adequate financial resources to maintain daily lives and enough funds to meet short term financial needs. Households having a financial planning horizon of ten years or more higher amounts of bonds and of stocks. Reporting a saving motive of “growth” was associated with higher stock holdings, but reporting a saving motive of “retirement” was not associated with higher bond or stock holdings. Controlling for income and other variable, stock and bond holdings increased with education and were higher for whites than for nonwhites.