Ever wondered where the truly wealthy stash their cash? It’s a question that fascinates many, and the answer might surprise you.
A recent survey by Bank of America Private Bank sheds light on the financial habits of millionaires in the United States. It turns out that the wealthiest Americans, particularly those ages 21 to 42 with at least $3 million in investable assets, are taking a different approach to wealth management than their older counterparts.
According to the survey, these young millionaires hold only 25% of their assets in stocks or stock funds. In contrast, wealthy investors 43 and older allocate an average of 55% of their assets to stocks.
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The age-old adage, “Don’t put all your eggs in one basket” has never been more relevant than it is today. Wealthy millennials have internalized this lesson, and it’s reflected in their investment choices. So, where are the truly rich parking their wealth? Below are the diverse range of financial and real assets…
2023-08-28 13:26:32
Source from finance.yahoo.com