Prepared for Paul D. | Delivered February 12, 2020
Equity Rich Cash Poor Professionals: Market Size
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To find out the number of "equity-rich" (i.e asset rich, cash poor) business owners, the number of real estate owners with less than $1000 in cash savings/or low in cash and the number of doctors or lawyers who can't manage their finances.
According to studies done by the Attom Data, there are nearly
14 million Americans
who are “equity rich”, meaning they have at least 50% equity in their homes.
As per latest update available, there are 1
.36 Million homeowners
in the US who are underwater on their mortgage, meaning they owe the lender more than what their home is worth.
According to the federal survey of household economics and decision-making,
of Americans could not cover a US$400 emergency expense using cash in 2017.
However, the 41 percent share indicated an improvement, since it was
of the population in 2016,
in 2015 and
According to the CNBC and Acorns Invest In You Savings Survey,
75 percent of Americans
manage their own finances, with no help from a professional or online service.
of Americans said that they took help of a financial
57 percent of adults
in the United States were more confident about their ability to save for retirement in 2019 than they were in 2016, according to a CNBC survey.
However, money mistakes cost an average American