Forget about the stock market. Millennials want their money in the form of cash.
Americans between 18 and 29 years old are three times more likely to keep their long-term investments in the form of cash, rather than stocks.
That's according to a new survey from bankrate.com.
Even the booming stock market hasn't been able to encourage more investment among young adults.
Many were burned by the last recession.
39% of millennials picked cash as their preferred way to invest money they don't need for at least 10 years. Another 24% chose real estate. And just 13% picked stocks.
Financial analysts say losing out on investment returns could spell trouble for many when it comes to paying for retirement.