KTRH Money Man Pat Shinn sees it this way--- "It's based on you past experiences and that is what this survey is about!" He's alluding to a recent Bankrate survey evaluating how people prefer to invest money. Bankrate's Survey says Gen-X-ers and Millenials prefer real estate. Sinn: "For Baby Boomers like me, real estate was a place where you lived ---- and not a place where you could make a lot of money. The stock market, on the other hand, was a place where you could make a lot of money for a long period of time!"
The Market Has Its Worst Performance Since 1970
Shinn says no wonder these younger adults love real estate - when they became of age to invest...the stock market wasn't soaring and real estate was! "If you invested at the beginning of the 2000s in the S&P 500, the market did not get back to 'even' in 10 years! So, no wonder that Millennials and Gen X-ers don't like the stock market!"
The survey found Real Estate is still American's preferred Long-Term investment, Stock Market is a close second and cash comes in third. The Comfort level with Bitcoin has fallen significantly with 75% says they are totally uncomfortable with it.
"Only in hindsight will we know the value of what Bitcoin will do - because there's no way to put a value on it."
Hear Pat Shinn Daily on KTRH.
Some of the findings from Bankrate's Survey
· Real Estate is still Americans’ Preferred Long-term Investment
· Stock market a close second
· Coming in third was cash
· Fourth bonds
Cryptocurrency - Comfort level with investing in cryptocurrency has fallen
photo:GettyImages
Real estate investing concept. Photo: Getty Images