The stock market continues to reach new highs, with the bull market in its ninth year, yet individual investors, especially millennials, are not buying it.
According to a recent survey from Bankrate, 28% of U.S. adults said real estate would be their preferred investment for money they don’t need for more than 10 years. Only 17% picked the stock market, even less than cash, which 23% favored as their long-term investment. The result isn’t necessarily a surprise. Bankrate has been polling people for the past five years, and the stock market has never placed higher than third. (The survey is based on a representative sample of 1,002 U.S. adults living in the continental U.S.)
Stocks are even less popular among millennials — only 13% of them said they’d invest their money in the stock market, trailing real estate (30%), cash (30%), and even gold (17%). In comparison, their grandparents’ generation, the baby boomers, are much more positive about the stock market. For baby boomers, stocks are No. 2 for preferred long-term investment, behind only real estate.
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