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.
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