Most financial advisors urge people in their 20s to load up on stocks. The only problem is that, according to a growing body of research, these young investors want nothing to do with stocks.
Rather than maximize their potential returns through big chunks of stocks in their portfolios, many young investors these days are taking a more cautious approach.
According to a survey from brokerage UBS, for example, the typical millennial investor holds more than half of his or her portfolio's assets in cash, a stance more appropriate to retirees. In fact, the millennials' fear of stocks more closely mirrors that of the World War II generation than it does either Generation X or baby boomers.