Inc. (Nasdaq: INTU), maker of TurboTax,
and Turbo, today released
findings from The Pursuit
of Prosperity Study. In support of its mission to power prosperity
around the world, Intuit surveyed more than 3,000 Americans, in
partnership with Kelton Global, to better understand the complexities of
achieving prosperity today. The study found that many Americans, while
facing many financial barriers, feel prosperity is currently out of
reach. However, they are optimistic for the future, and fueled by a new
Americans Struggle to Reach Financial Goals
The study found that nearly four out of five Americans (78%) feel
prosperity is currently out of reach. Just as many Americans (78%) are
delaying personal milestones like purchasing a home (30%), retiring
(22%), starting a family (22%), starting a business (19%) or getting
While prosperity means different things to different people, the vast
majority (87%) agree that achieving their financial goals is crucial to
living the life they want. However, over half of Americans (55%) don’t
feel confident in their ability to manage their finances, and cite this
as a major barrier to prosperity. This creates financial situations
which make achieving prosperity difficult such as living
paycheck-to-paycheck (45%), not having any money in savings (44%), being
too far in debt (36%) and not being able to fully support themselves
Socioeconomic Factors Pose Threats to Prosperity
While the U.S. economy and employment data show signs of consistent
growth, they don’t paint the full picture of prosperity in the U.S.
Despite economic growth, more than half of Americans (58%) believe the
economy is a major factor holding them back from achieving a prosperous
life. In addition, nearly half of Americans (46%) cite demographic
factors like ethnicity, gender, race and sexual orientation as hurdles
Despite Barriers, Americans Remain Optimistic about Financial Success
Even with these challenges, 80% of Americans see financial success in
their future and 58% are hopeful they will achieve prosperity over time.
Moreover, while only approximately one in five (19%) believe they are
currently prosperous, Americans born outside of the U.S. are even more
hopeful to achieve a prosperous life than their U.S.-born counterparts
(71% vs. 58%).
Side Hustles and Entrepreneurism are on the Rise
Many Americans are taking their future into their own hands. More than a
third of Americans (36%) are considering getting a side gig or an
additional source of income, and 37% are considering becoming business
owners or self-employed within the next five years.
This entrepreneurial spirit is resulting in improved quality of life.
Small business owners are nearly twice as likely to feel more prosperous
compared to those who work 9-to-5 jobs. One-third (33%) say they have
achieved prosperity because of the decision to open a small business and
be their own boss.
To learn more about the survey, visit intuit.com/prosperitystudy
and share your prosperity story using #ProsperityForAll.
This survey was fielded to 3,163 Americans ages 18+ in the U.S. via an
online survey from February 11-19, 2019. Participants are members of
opt-in panels and were recruited via email invitation. Quotas were set
using U.S. Census figures to ensure the demographic breakdown of the
sample is representative of the larger population of U.S. adults.
Statistical significance is based off a confidence interval of 95%. A
value being statistically significant compared to another value means
there is a 95% chance that the difference between those two values is
real, not just for this instance, but that it can be translated to the
population. All comparison points within our data are statistically
significant. Results of any sample are subject to sampling variation. In
this particular study, the chances are 95 in 100 that a survey result
did not vary, plus or minus, by more than 1.7% from the result that
would be obtained if interviews had been conducted with all persons in
the universe represented by the sample. The margin of error for any
subgroups will be slightly higher. The base sizes of all subgroups
within the analysis are 100+.
Intuit’s mission is to Power Prosperity Around the World. Our global
products and platforms, including TurboTax,
Mint and Turbo,
are designed to empower consumers, self-employed and small
businesses to improve their financial lives, finding them more money
with the least amount of work, while giving them complete confidence in
their actions and decisions. Our innovative ecosystem of financial
management solutions serves approximately 50 million customers
worldwide, unleashing the power of many for the prosperity of one.
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