Despite recent job gains and falling unemployment, millennials’ financial outlook is bleak. These young Americans are overburdened by student debt, have put little into savings and retirement plans and are struggling to find affordable homes. (Photo: Shutterstock)

(Bloomberg) –Millennials think cash is the best long-term investment. Unsurprisingly, they’re not seeing good returns.

Almost 1 in 3 millennials said cash instruments, such as savings accounts and certificates of deposit, are the best place to invest money they won’t need for the next 10 years. That compares with only 21 percent of older generations—most of whom prefer the stock market—according to research released on Wednesday.

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