Portrait™ of U.S. Household Wealth 2024: Sizing the Growth Prospects for Older Households and Categories of Advice
Order Report - Portrait™ of U.S. Household Wealth 2024: Sizing the Growth Prospects for Older Households and Categories of Advice
Report Overview
Hearts & Wallets' 2024 Portrait™ of U.S. Household Wealth reports on the current breakdown of household wealth in America. As the number of HHs climb, and investable assets approach $78T, understanding who controls this wealth is essential as you determine strategies, define targets, and craft messaging. This report also looks at the significant percentage real estate equity represents of total wealth, and the importance of providing advice.
Key Findings
- 131M U.S. households make decisions about $78T of investable assets in the context of $137T of total wealth. Taxable and IRA assets are growing faster than defined contribution (DC), but all 3 trail the growth of net equity in real estate.
- Market sizes are very different when measured in assets or households. Assets are concentrated in relatively few, wealthier households.
- Older consumers, across a mix of generations, control more assets today than other groups and are the fastest growing.
- Only 45% of store relationships provide both advice and service. The market for advice experiences is potentially bigger than it is
Pricing
Choose access licenses for your team or organization in ways that support how you collaborate. AVAILABLE FOR LICENSE TO NON TRENDS SUBSCRIBERS NOVEMBER, 2024.
Online with slide download, PPT & PDF (unlimited log-ins) - $28,000
Online with slide download (1-50 logs-ins) - $22,000
Online only (1-20 log-ins) - $18,000
Sample Report Pages
Methodology. 1-9
Key Findings & Implications. 10
Favorite Statistics. 11
Related Research. 12
Key Findings. 13-46
1: 131M U.S. households make decisions about $78T of investable assets in the context of $137T of total wealth. Taxable and IRA assets are growing faster than defined contribution (DC), but all 3 trail the growth of net equity in real estate
1.1: Exhibit 1.1 — U.S. Households (M): By Year
13
1.2: Exhibit 1.2 — U.S. Household Total Investable Assets ($T): by Year
14
1.3: Exhibit 1.3 — Total Investable Assets by Taxable and Consumer-Controlled Retirement ($T): by Year’s
15
1.4: Exhibit 1.4 — Consumer-Controlled Retirement, By Account Type ($T): by Year
16
1.5: Exhibit 1.5 — Components of Household Wealth ($T): 2023-Q4
17
1.6: Exhibit 1.6 — Components of Household Wealth ($T): by Year
18
1.7: Exhibit 1.7 — Pension Plans, by Funding Status and Sponsoring Entity Type ($T): 2023-Q4
19
2: Market sizes are very different when measured in assets or households. Assets are concentrated in relatively few, wealthier households. In household terms, lower-asset and younger is the bigger market.
2.1: Exhibit 2.1 — The Portrait Grid™ 2023
20
2.2: Exhibit 2.2 — U.S. Households and Investable Assets: by Investable Asset Groups, 2023
21
2.3: Exhibit 2.3 — The Portrait Grid™ Visualization of Number of U.S. Households (M): by Age and Investable Assets, 2023
22
2.4: Exhibit 2.4 — The Portrait Grid™ Visualization of U.S. Household Investable Assets ($B): by Age and Investable Assets, 2023-Q4
23
2.5: Exhibit 2.5 — U.S. Households and Investable Assets: by Investable Asset Groups, by Year
24
2.6: Exhibit 2.6 – Percent of Total Investable Assets Controlled by Households in Each Asset Range: by Year
25
2.7: Exhibit 2.7 — The Portrait Grid™ 10-Year Historical Lookback: 2023 vs. 2013
26
2.8: Exhibit 2.8 — The Portrait Grid™ 10-Year Historical Lookback at Investable Assets: 10-Year Change in U.S. Household Investable Assets ($B) by Age and Investable Assets: 2023-Q4 vs. 2013
27
2.9: Exhibit 2.9 — Households and Investable Assets <$5M vs. $5M+: by Age Ranges, 2023
28
2.10: Exhibit 2.10 — Sizing (Households and Investable Assets): <Age 55 vs. 55+, by Investable Assets <$5M vs. $5M+, 2024 Portrait vs. 2023 Portrait
29
2.11: Exhibit 2.11 — Asset Class Allocation, Equity (Don’t Know and 0%): by Investable Asset Ranges, by Year
30
3: Older consumers, across a mix of generations, and increasingly at advanced ages, control more assets today than other groups and are fastest growing.
3.1: Exhibit 3.1 — Sizing (Households): by Age Ranges, by Year
31
3.2: Exhibit 3.2 — Sizing (Households and Investable Assets): by Age Ranges, 2023
32
3.3: Exhibit 3.3 — Projected Sizing (Households): by Age Ranges
33
3.4: Exhibit 3.4 — Projected Sizing (Households): by Advanced Age Ranges
34
3.5: Exhibit 3.5 — Sizing (Households and Investable Assets): by Lifestage, 2023
35
3.6: Exhibit 3.6 — Projected Sizing (Households): by Lifestage
36
3.7: Exhibit 3.7 — Sizing (Households and Investable Assets): by Generation, 2023
37
3.8: Exhibit 3.8 – Projected Sizing (Households): by Generation, 2023
38
4: Only 45% of store relationships provide both advice and service. The market for advice experiences is potentially bigger than it is currently.
4.1: Exhibit 4.1 — Relationships by Self-Reported Scope & Service Level on Inside Advice® Grid: Industry, All Account Types, 2023
39
4.2: Exhibit 4.2 — Percent of Relationships on Inside Advice® Grid: by Relationship Level and Account Type, 2023
40
4.3: Exhibit 4.3 — Percent of Investing Relationships on Inside Advice® Grid: by Relationship Level, 2023
41
4.4: Exhibit 4.4 — Highest Self-Reported Relationship by Inside Advice® Grid Category: All Households & by Asset Ranges, 2023
42
4.5: Exhibit 4.5 — Current Market Size (Households & Investable Assets) by Highest Self-Reported Inside Advice® Grid Category: 2023
43
4.6: Exhibit 4.6 – Sizing (Investable Assets): Current vs. Potential Market by Inside Advice® Grid Category, 2023
44
4.7: Exhibit 4.7 — Sizing (Households): Current vs. Potential Market by Inside Advice® Grid Category, 2023
45
4.8: Exhibit 4.8 — Sizing (Households and Investable Assets): Current vs. Potential Market by Inside Advice® Grid Category, 2023
46
Appendix. 47-48
Glossary. 49
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