Lawsuits against Individuals with Assets
Identify insights about lawsuits against individuals and determine how many individuals have assets to protect, even if they may not have $25,000 in cash savings. Focus particularly on individuals with wealth concentrated in non-liquid assets, like real estate investors or business owners.
- Individuals in the 25th to 90th wealth percentiles in the US have the largest percentage of their wealth stored in home equity. The wealthier a person is, the more likely they are to have their wealth stored in business equity or net other financial wealth.
- According to the Klemm Analysis Group, 36% to 53% of small businesses are sued.
- Almost 75% of aggregate household assets are in the form of financial assets, mostly stocks and mutual funds, retirement accounts, and closely-held businesses. Real estate makes up the majority of nonfinancial assets.
- Only 37% of Americans have enough savings to pay for a $500 or $1,000 emergency and 56.3% of people have less than $1,000 in their checking and savings accounts combined.
- People with a household income of $115,000 or higher have an average savings of $37,645.
Proposed next steps:
You need to be the project owner to select a next step.