Great, so we’re confident and engaged! But also found within the data is a major red flag. While our intentions are there, the survey found that millennials hold 70 percent of their savings and investments in cash. 70 percent. After first reading this myself, I had a slight bout of panic and immediately checked my own portfolio, which is only 7 percent cash. And that’s thanks in part to the article written by my colleague Heather Pelant, which convinced me to take action. To cite her Cash is Not a Strategyassertion:

Staying out of the market means missing potential rallies. We know that we’re in a volatile market environment right now, but those downs are accompanied by ups. As we millennials have a longer time horizon until retirement, staying invested for the long haul is key.

Cash doesn’t keep pace with inflation. As Russ Koesterich points out, cash typically produces lower returns than stocks or bonds, and once you invest for both inflation and taxes, average long-term rates are negative.

There are several smart ways to get cash off the sidelines, and you may want to check them out. Because no matter how old you are, you can’t win if you’re not in the game.