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Market Size for Asset Rich, Cash Poor Individuals (US)

Goals

To find the number of asset rich, cash poor individuals in the United States to help launch an asset protection plan.

Early Findings

Number of Individuals With Substantial Assets

  • The proportion of total assets that are liquid and miscellaneous:
    • Top 1% of the wealthiest: 8%
    • Next 19%: 10%
    • Middle 60%: 9%
  • There is no evidence to suggest that being cash poor is a function of asset size.
  • The top wealth quartile of the United States makes up 29.9 million households (25%* 119,730,128 total households).
  • According to Equifax, the top 19.5% (0.2%+0.8%+1.4%+1.9%+5.8%+3.5%+5.9%) of individuals in the US have investable assets over $500,000. These households are likely to be among the top quartile.
  • The top 20% of households have incomes more than $111,900 and an average of $200,000.
  • In qualitative terms, people who are asset rich and cash poor are possibly individuals who
  • 1) Asset rich individuals do not plan their finances, or do not plan it well, or do not avail of financial planning services
    2) those who have low incomes and a large inheritance of real estate; for example, not-so-rich millennials or Gen Xers who have inherited real estate from their boomer parents and who do not rent out the property.
    3) Early-stage startup founders of companies that have raised capital (have equity in a company that is valued well) but typically earn under $100,000.
    4) Asset rich individuals who have lost a large part of their liquid assets (for example, in a stock market crash).
  • According to Crunchbase, there are 12,747 early-stage startup founders in the United States.

Proposed next steps:

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