Portrait™ of U.S. Household Wealth 2022: Sizing Opportunities from Retirement to High Net Worth and Exploring the Role of Real Estate
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Report Overview
Today, 129M households make decisions $68.6T in investable assets, with 2 of 3 dollars in taxable accounts and the remainder in retirement.
The 2022 Portrait™ of U.S. Household Wealth reports on the current breakdown of household wealth in America. This report is updated annually. Learn who controls the wealth by age and asset ranges through the Portrait Grid™. This research is the foundation of all market sizing at Hearts & Wallets. Use this report to size and refine your target markets using the TAM, SAM SOM methodology.
The 2022 Portrait™ of U.S. Household Wealth reports on the current breakdown of household wealth in America. This report is updated annually. Learn who controls the wealth by age and asset ranges through the Portrait Grid™. This research is the foundation of all market sizing at Hearts & Wallets. Use this report to size and refine your target markets using the TAM, SAM SOM methodology.
Key Findings
- 129M households in the U.S. make decisions about $68.6T in investable assets with 2 of 3 dollars in taxable accounts and the remainder in retirement.
- Households age 45+ with $500K+ make decisions about $57.1T or 83% of investable assets.
- After the “wealth” market, the next biggest age-asset group in asset terms is ages 45-64 with $500K-<$2M: 8.4M households who make decisions about $13.5T.
- The taxable-retirement split, 2 to 1 at the national level, varies significantly within groups. Most households (111M) have taxable accounts. $9.8T in DC is spread across 62M households, and 50M have $12.5M in IRAs.
- Net equity in real estate is $29T, currently a bigger portion (23%) of U.S. household wealth than retirement assets (19%).
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Sample Report Pages
Methodology 1-2
Key Findings & Implications 3
Favorite Statistics 4
Related Research 5
Key Findings 6-48
1: 129M households in the U.S. make decisions about $68.6T in investable assets with 2 of 3 dollars in taxable accounts and the remainder in retirement.
1.1: Exhibit 1.1 — U.S. Households (M): By Year
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1.2: Exhibit 1.2 — U.S. Household Total Investable Assets* ($T): by Year
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1.3: Exhibit 1.3 — Total Investable Assets by Taxable and Consumer-Controlled Retirement ($T): by Year
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1.4: Exhibit 1.4 — Consumer-Controlled Retirement, By Account Type ($T): by Year
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1.5: Exhibit 1.5 — Taxable Assets vs. Retirement and Retirement Components, 2022
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1.6: Exhibit 1.6 — Components of Household Wealth ($T): 2022
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1.7: Exhibit 1.7 — Pension Plans ($T) by Funding Status and Sponsoring Entity Type: 2022
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1.8: Exhibit 1.8 — Components of Household Wealth ($T): by Year
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2: Households age 45+ with $500K+ make decisions about $57.1T or 83% of investable assets.
2.1: Exhibit 2.1 — The Portrait Grid™ 2022
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2.2: Exhibit 2.2 — The Portrait Grid™ Visualization of U.S. Household Investable Assets ($B): by Age and Investable Assets, 2022
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2.3: Exhibit 2.3 — Asset Class Allocation by Age-Investable Asset Segments, 2022
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2.4: Exhibit 2.4 — Incidence of Any Equity in Asset Class Allocation by Age-Investable Asset Segments, 2022
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2.5: Exhibit 2.5 — Saving Rate by Age-Investable Asset Segments, 2022
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2.6: Exhibit 2.6 — 10%+ Saving Rate by Age-Investable Asset Segments, 2022
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3: After the “wealth” market, the next biggest age-asset group in asset terms is ages 45-64 with $500K-<$2M: 8.4M households who make decisions about $13.5T.
3.1: Exhibit 3.1 – U.S. Households and Investable Assets by 10 Age-Investable Asset Segments: 2022
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3.2: Exhibit 3.2 – The Portrait Grid™ 2022, Highlighting Age 45-64, Investable Assets $500K-<$5M
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3.3: Exhibit 3.3 – Example of TAM-SAM-SOM Market Sizing: Offering for Mass Affluent <55 $10K+ Savers, 2022
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3.4: Exhibit 3.4 – Example of Design Target Sizing & Segmentation: Offering for Mass Affluent <55 $10K+ Savers, 2022
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3.5: Exhibit 3.5 – Example of TAM-SAM-SOM Market Sizing: Households With $5M-<$10M Less Than Delighted With Primary Relationship, 2022
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4: The taxable-retirement split, 2 to 1 at the national level, varies significantly within groups. Most households (111M) have taxable accounts. $9.8T in DC is spread across 62M households, and 50M have $12.5M in IRAs.
4.1: Exhibit 4.1 – Estimated Defined Contribution (DC) Households & Assets by Age and Investable Asset Groups, 2022
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4.2: Exhibit 4.2 – Estimated Defined Contribution (DC) Statistics, by Age and Investable Asset Groups, 2022
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4.3: Exhibit 4.3 – Estimated IRA Households & Assets by Age and Investable Asset Groups, 2022
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4.4: Exhibit 4.4 – Estimated IRA Statistics, by Age and Investable Asset Groups, 2022
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4.5: Exhibit 4.5 – Estimated Taxable Households & Assets by Age and Investable Asset Groups, 2022
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4.6: Exhibit 4.6 – Taxable vs. Retirement Asset Mix: by Detailed Investable Asset Groups, 2022
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4.7: Exhibit 4.7 – Taxable vs. Retirement Assets, Mix & Dollars: by Investable Asset Groups, 2022
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4.8: Exhibit 4.8 – Defined Contribution (DC) vs. IRA Asset Mix: by Detailed Investable Asset Groups, 2022
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4.9: Exhibit 4.9 – Estimated Defined Contribution (DC) as Percentage of Total Investable Assets: by Detailed Investable Asset Groups, 2022
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4.10: Exhibit 4.10 – Crosstab of Portfolio Allocation for Account Types: ESRPs NET (Current & Former Employer Plans) by Assets-to-Income Ratio: Age 45-64 with $250K-$2M Investable Assets, 2022
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5: Net equity in real estate is $29T, currently a bigger portion (23%) of U.S. household wealth than retirement assets (19%).
5.1: Exhibit 5.1 – Ownership of Primary Residence & Additional Real Estate: National, by Year
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5.2: Exhibit 5.2 – Value of Primary Residence: National, by Year
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5.3: Exhibit 5.3 – Mortgage Incidence and Balance on Primary Residence: National, by Year
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5.4: Exhibit 5.4 – Net Equity in Primary Residence: National, by Year
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5.5: Exhibit 5.5 – Value of Additional Real Estate: National, by Year
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5.6: Exhibit 5.6 – Net Equity in Additional Real Estate Among Owners: National, by Year
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5.7: Exhibit 5.7 – Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable Assets: National, by Year
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5.8: Exhibit 5.8 – Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable Assets: by Investable Asset Groups, 2022
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5.9: Exhibit 5.9 – Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable assets: $100K-<$500K Investable Assets, by Year
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5.10: Exhibit 5.10 – Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable assets: $500K-<$2M Investable Assets, by Year
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5.11: Exhibit 5.11 – Crosstab of Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable Assets by Concern: “Making Assets Last Throughout Retirement/Outliving Money,” 2022
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5.12: Exhibit 5.12 – Crosstab of Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable Assets by Attitude: “I would consider moving to a smaller, less expensive home in order to free up money to fund my retirement,” 2019
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5.13: Exhibit 5.13 – Crosstab of Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable Assets by Anticipated Sources of Income in Retirement: Real Estate Income, 2022
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5.14: Exhibit 5.14– Crosstab of Real Estate Net Equity as Percentage of Real Estate Net Equity + Investable Assets by Spending Percentage on Housing & Utilities, 2022
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Appendix 49-54
Glossary 55
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