Almost one out of three representatives of millenials thinks that cash instruments, including saving accounts and certificates of deposit, are the best way for investing money they won’t need for the next ten years, Bloomberg reports. To compare, older generation prefers investing money into equities, and only 21% into cash.

Millenials are people of age between 17 and 37.

However, such savings do not bring profit. About 19% do not get any interest earnings from their savings, while about the same share get less than 1%. Some of millenials do not even know what earnings they get.

Target level of inflation for US Fed is 2%, therefore any profit below this level loses its buying power.

Only 18% of all adult Americans earn more than 1,5% on their savings.

Analytics think that in case of long-term investments it is reasonable to invest some money into assets with high risk, such as stock market. Especially, in case of retirement savings.

However, young generation is hesitant to invest in stocks after it observed global financial crisis. Despite employment growth in the US, young people live under burden of student debt and are trying to find affordable houses, putting aside very small amounts of money for savings and retirement.