Investing can feel daunting for newbies.

About 21% of surveyed Americans say stocks aren't their preferred way to invest because the stock market is too intimidating, according to a Bankrate poll in January. That fear skewed higher for younger people, to 29% of Gen Z members and 24% of millennials, it found.

Putting all your money in cash or bonds may feel safe, because it seems like there's little scope for financial loss — but this is misguided, according to financial advisors.

"When you're young, worrying more about downside than upside is probably the biggest mistake," said Josh Brown, CEO of Ritholtz Wealth Management. "You have to get rich before you focus on preserving your wealth."

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