Larry Fink’s brutal warning to Americans: This everyday habit is ‘one of the worst financial decisions’ of your life

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For generations, putting money in the bank has been synonymous with financial responsibility.

But BlackRock CEO Larry Fink thinks following that conventional wisdom would be a major mistake for today's Americans.

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"Having your money in a bank account is one of the worst financial decisions of a lifetime," Fink said at the Milken Institute 2026 Global Conference (1).

It's a startling statement from the man who runs the world's largest asset manager. But Fink's argument goes beyond the return — or lack thereof — on money sitting in a bank.