By Kelsey Ramirez
Americans across all ages agree that real estate is the best investment for money they won’t need for more than 10 years, according to a survey by Bankrate.com.
This survey, which gave several choices of the best long-term investment, showed real estate as the No. 1 long-term investment choice, followed by cash investments such as CDs and savings accounts, according to an article by Claes Bell for Bankrate.com.
In fact, older millennials, 26 to 35 year olds, had the same propensity as the older age groups to cite real estate as their top investment choice for money not needed for more than a decade at 28%, according to the study.
Gold or precious metals tied with the stock market as the next most popular long-term investment, according to the article, followed by bonds.
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(Source: BankRate Financial Security Index survey)
From the article:
The most popular long-term investing option in our survey was real estate, favored by a quarter of Americans.
That makes sense to Sterling White, co-founder of Holdfolio, a real estate investment firm.
“Houses are tangible. You can physically see and feel the product. So you know where your money is going: It’s going into that house,” White says. “With stocks, you have no clue where your money is going.”
On the other hand, Americans’ perception of the stock market has changed very little over the past several years.
From the article:
The bull market that started in 2009 and continues today is the second longest in U.S. history, but has yet to make a dent in Americans’ perceptions of the market, according to Bankrate’s polling data.
Back in 2013, relatively early in the bull market, 14% of Americans told us stocks were the best long-term investment available. Now, 16% feel that way.