A report from Bankrate.com reveals that for money that is not need for 10 or more years, 25% and 23% of Americans prefer real estate and cash, respectively, with stocks coming in at 16%. CNBC staffer Jessica Dickler reports on the finding of this report and which generations are more likely to prefer these long-term cash investments.
While older generations were more likely to choose real estate, millennials chose cash by a striking margin:
...those at ages 18 to 25, overwhelmingly chose cash as their preferred investment for they money they would not need for at least 10 years. That was by more than a 2-to-1 margin over the next highest category, real estate. (Millennials are also less likely to own a home because they simply can't afford one, according to a separate report from the U.K.'s office of National Statistics.)