Millennials Are Making a Costly Investment Mistake
Almost 1 in 3 millennials say they prefer cash instruments for long-term investments—but the generation is least likely to earn interest on such savings.
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Millennials think cash is the best long-term investment. Unsurprisingly, they’re not seeing good returns.
Almost 1 in 3 millennials said cash instruments, such as savings accounts and certificates of deposit, are the best place to invest money they won’t need for the next 10 years. That compares with only 21 percent of older generations—most of whom prefer the stock market—according to research released on Wednesday.