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Then there are the TikTokers sharing their stock picks.
Yet, despite the abundance of investment information, a survey conducted byEmpowersuggests that cash still reigns supreme.
Roughly 52% of people surveyed preferred to keep cash instead of exploring other investments.
At first glance, this information seems eye-popping.
Can more than half of respondents really prefer stashing money in their wallets over growing it through investments?
And is that even wise?
The answers are, unsurprisingly, more complicated than you might think.
About 49% of survey respondents said they feltsafer holding cashcompared to other investments.
This anxiety is fueled by uncertainties in the market, particularly fears of a looming recession.
But everyday worries about being caught unprepared in an emergency also contribute to the cash is king mentality.
Whiletraditional checking and savings accountsoffer security, they often leave your money stagnant.
Cash that isnt earning interest loses value over time due to inflation.
Should the Reign of Cash End?
So why arent more Americans venturing beyond cash?
The good news is that some are.
According to the Empower survey, 51% of respondents said they were open to exploring stocks and bonds.
Younger generations, like Gen Z, are also showing increased interest innew investment avenues, including cryptocurrency.
That way, you could have the best of both worlds security and growth.
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