Young Americans are fearful of putting their money into the stock market because of the awful economy of recent years, but their reluctance simply guarantees their own retirements will be put at risk, according to CNNMoney.

While adults in their 20s and early 30s, also known as Generation Y, are known to be taking on less credit card and mortgage debt, a large percentage of them are investing heavily in bonds and savings accounts, which offer skimpy returns, CNNMoney reported. Financial advisers typically to recommend young savers keep 75 percent to 90 percent of their savings in stocks.

A recent Wells Fargo survey of 1,500 young adults found that of the roughly half of respondents who were saving for retirement, 26 percent said at least 75 percent of their savings was in cash or bonds. Only 32 percent said they had most of their money in stocks or mutual funds.

Editor’s Note: 5 Reasons Stocks Will Collapse . . .

In addition, 52 percent said they were "not very" or "not at all" confident in the stock market as a logical repository for their retirement savings.

Some financial planners are noticing that younger clients come in with big cash savings accounts, CNNMoney noted.

"If you're all in cash, it's like putting it under your mattress," said Jeanne Thompson, vice president of market insights at Fidelity Investments.

According to an analysis by T. Rowe Price, $1,000 invested in stocks at the end of 1982 would be worth nearly $22,000 by the end of 2012, but the same amount put into bonds would be worth $10,400, and the same amount put in a savings account would add up to $3,700, according to CNNMoney.

New Census figures show millions of the Gen Y generation still live with their parents, earning poverty wages and "unable to emerge from the long shadow cast by the Great Recession," The Fiscal Times reported.

Many of those still stuck at home are plagued by few job opportunities and high student loan debt, the Times said.

Of the estimated 5.8 million 25 to 34 year olds who live with their parents, the Census data estimated 43.3 percent of them have incomes below the poverty line, which means they make less than $11,490.

"For all of the talk by President Obama and congressional Republicans about building a stronger future, the current feeble circumstances are a bad omen," The Times declared.

Editor’s Note: 5 Reasons Stocks Will Collapse . . .