Survey Reveals Wealthy Individuals Allocate 25% of Their Wealth to This Asset Class - Should You Follow Suit?
Wealthy people are moving their funds into cash or cash equivalents like CDs, with 34% of millionaire investors saying they’re keeping more of their money in cash, according to a CNBC Millionaire Survey. High-net-worth investors have 34% of their portfolios in cash or cash equivalents like CDs and money markets, according to a survey by consulting firm Capgemini. This trend is due to uncertainty in the marketplace and the favorable returns on savings. However, it depends on individual circumstances and goals, and long-term investors shouldn't be hoarding cash as they may miss out on significant gains.