Millennials Insanely Risk Averse Study Finds

I guess the Great Recession can do that to a group of people just starting their fiscal lives.

Unfortunately, millennials have a basic misunderstanding of risk. BlackRock's "Global Investor Pulse" survey found that almost half of its 4,000 participants were opposed to taking any risk with their money, keeping it in cash or bonds. The participants included investors of all ages, "with those born in the late 1970s and after leading the way." 

The problem is all-cash will get eroded away by inflation. Just some low-fee index funds or even some dividend rich income funds are better than cash. I blame this on lack of financial literacy for millennials.