What millennial millionaires are getting wrong about personal finance

Discussion in 'Market News' started by Lily, Jul 10, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    Young, rich people are reportedly keeping a third of their wealth in cash – but it’s not a strategy peers with decades of potential compound interest should mimic

    It seems that young millionaires these days are being ultra-conservative with their investment portfolios.

    Or at least that’s what the results of the latest survey of the world’s wealthiest inhabitants, by Capgemini Consulting, suggest. According to its findings, millennial millionaires keep about a third of their riches in cash, whether it’s stacks of hundred-dollar bills kept in a safe, money in a savings or checking account, or near-cash equivalents.

    Related: Millennials may not be rich, but members-only perks ensure the luxe life

    Related: Apps are getting millennials interested in money – but can they be trusted?

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