Study: Millennials Want Cash, Not Stocks

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

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.