The Wall Street Journal wrote Friday, "Millennials Are Really Risk Averse," saying, "More than half of people between the age of 21 and 36 have their savings parked in cash," citing a new study entitled "How Millennials Could Upend Wall Street and Corporate America," by the Brookings Institution. "The high cash allocations to accounts like bank CDs and money-market funds, which pay little-to-no interest, suggest young adults are reluctant to put money to work in the U.S. stock market, which has bounced back from the financial crisis and recorded numerous record highs over the past year," states the WSJ. "Citing data from UBS, the Brookings study found that 52% of millennials have their savings in cash. By comparison, all other age groups have 23% of their savings in cash. Millennials also say they only have 28% of their assets in stocks." The WSJ article adds, citing Brookings, "One reason for this avoidance of the stock market stems from the same experience of extreme volatility and risk that the Millennials' great grandparents experienced when they were coming of age during the Great Depression."

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