75% of rich millennials don't think the stock market can generate the returns they're looking for.
Only 32% of older investors said the same.
Younger investors are flocking to cryptocurrency, private equity, real estate, and even art.
Despite the stock market struggles over the past year, older generations still trust it with their hard-earned money. But wealthy millennials have begun exploring other options.
Looking forward, the wealthy millennial investors ranked cryptocurrency or digital assets, real estate, private equity, and direct investment into companies offer the "greatest opportunities for growth." Older investors favored US stocks, followed by real estate and equities in the emerging and international markets.
Real estate, the one investment both groups of investors were high on going forward, has historically been a ticket to wealth for many Americans. It's an "excellent inflation hedge," comes with a tax break, insulates buyers from changes in rent and housing prices, and diversifies one's investments, Boston University economist Laurence Kotlikoff previously told Insider.
Portions of this article : Jacob Zincula, Business Insider
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