Wealthy young Americans aged 21 to 43, with at least $3 million in assets, allocate only 28% of their portfolios to stocks, compared to 55% for wealthy investors over 43, according to a Bank of America survey. The survey also revealed that 93% of wealthy young Americans plan to increase their alternative asset allocation in the coming years, with 72% believing that outsized returns can no longer be achieved solely through traditional stocks and bonds. Among alternative assets, 45% of young wealthy investors hold physical gold, and 28% believe cryptocurrencies offer the greatest growth opportunities, allocating 14% of their portfolios to cryptocurrencies, significantly higher than the 1% held by older investors.