Research Report — January 2025

The 2025
State of Ownership

High-earning professionals reveal the gap between wealth aspirations and ownership action

86% Advanced Degrees
30% Earn $200K–$350K
(Largest Income Group)
66% Plan a Major Move
Within 1 Year
57% Say Income Replacement
Is Biggest Barrier
01 — The Cohort

Who Took This Survey

These aren't struggling earners. They're educated, credentialed, and compensated well above the national average.

The Profile

This is a cohort of high achievers:

  • 69% hold Master's degrees, and another 14% have professional degrees like JDs or MDs
  • 30% earn $200K–$350K annually, representing the largest income group
  • Most respondents fall between $500K and $2M in net worth, with 40% clustered in this range
  • 86% identify as Black or African American, and 60% are female

Only 32% are W2-only. The rest have already begun diversifying:

  • 23% are full-time owners
  • 19% have W2 plus side income
  • 16% own or co-own a business alongside their employment
69%
Master's Degrees
60%
Female
86%
Black/African American
36-40 years old
30%
46-55 years old
28%
41-45 years old
22%
$200K - $350K income
30%
$1M - $2M net worth
20%
$500K - $1M net worth
20%
02 — What They Want

Wealth Priorities & Ownership Aspirations

When asked what they're interested in pursuing, the answers reveal a cohort hungry for more control over their wealth trajectory.

Build passive income
51%
Increase income
50%
Build generational wealth
36%
Pay down debt
26%
Start a business
23%
Scale existing business
22%
Acquire a business
19%

"What are the most strategic pathways as an owner, parent to build wealth?"

— Survey Respondent
03 — What They're Actually Doing

Investing Behavior & Current Activity

Interest is high. But action tells a different story.

Traditional investing only
27%
Advisory/fractional roles
21%
Acquire a business or franchise
17%
Build real estate portfolio
15%
Create digital products/IP
11%
Launch a startup
9%

Capital Readiness

38% can deploy less than $25K in the next 12 months. Another 29% have $25K–$50K available. Only 17% have $100K+ ready to deploy.

Work Situation

32% are W2-only, while 68% have diversified: 23% are full-time owners, 19% have W2 plus side income, 16% own businesses alongside W2, and 10% pursue portfolio or fractional careers.

48% Are Accredited Investors

Nearly half of respondents meet accredited investor criteria, giving them access to private market opportunities. However, 39% are not accredited, and 13% aren't sure of their status.

04 — The Intent–Action Gap

What they say they want vs. what they're doing

The disconnect between aspiration and execution is stark.

What They're Interested In

Build passive income 51%
Increase income 50%
Generational wealth 36%
Start a business 23%

What They're Actively Pursuing

Traditional investing only 27%
Advisory/fractional 21%
Acquire a business 17%
Real estate portfolio 15%

Half want passive income. A third want generational wealth. But only 27% are actively pursuing ownership pathways beyond traditional stocks and bonds.

— Survey Finding

"How to better prioritize options to not feel overwhelmed and focus on the most short-term impactful opportunities."

— Survey Respondent
05 — Barriers & Wealth Psychology

What's holding them back

The primary barrier is practical, not psychological.

57% Cite Replacement Income as Primary Barrier

More than half of respondents say their primary obstacle to making an ownership move is replacing their current W2 income. Not confidence. Not knowledge. The practical challenge of maintaining their lifestyle during transition.

Replacement income
57%
Finding the right opportunity
40%
Savings runway
29%
More confidence
22%

Satisfaction & Confidence

Neutral satisfaction
30%
Somewhat satisfied
27%
Somewhat dissatisfied
27%

What They Need

More capital
25%
More clarity
22%
More consistency
18%

"I wish I understood how to go about finding a business partner to build wealth with."

— Survey Respondent
06 — Timeline & Urgency

When they plan to make their move

66% plan to make a significant ownership or career move within the next year.

Already happening
40%
Within 1 year
26%
1-2 years
21%
3-5 years
5%
No current plans
8%

Two-thirds of this cohort are in motion or about to be. The shift from W2 to ownership is already underway.

— Survey Finding

"I'd love to understand the approach I should be taking later in my career as I'm over 50 years old at this point."

— Survey Respondent
07 — AI's Role in Their Strategy

They're not worried about AI. They're using it.

Adoption is nearly universal, and most see AI as opportunity rather than threat.

Using AI Daily

94%

Using AI to be more productive at work

Concerned About Disruption

22%

Worried AI will disrupt their career/industry

Top Macroeconomic Concerns

AI / automation
55%
Recession concerns
46%
Geopolitical risk
39%
Interest rates
30%
Inflation
30%
08 — In Their Own Words

What they wish they understood better

Direct insights from respondents on their knowledge gaps and questions.

09 — What This All Means

The shift from earning to owning

This survey reveals a cohort in transition. These are high achievers who have optimized their W2 income and built savings, but now face a critical inflection point.

The data shows a clear pattern: aspiration is high, but execution lags. Half want passive income, but only 27% are actively pursuing ownership pathways beyond traditional investing. The primary obstacle is practical. Replacing W2 income during transition.

Traditional financial advice assumes continued employment and public market investing. But this cohort is looking beyond that model. They're exploring fractional roles, business acquisitions, real estate portfolios, and AI-enabled ventures. The challenge is finding vetted pathways and curated opportunities at their level.

AI adoption is nearly universal in this group, with 94% using it productively at work. They see AI as leverage and opportunity more than threat. A third are actively exploring AI-enabled business opportunities, while 25% are building AI-powered businesses or investing in the sector.

Perhaps most striking: 66% plan to make a significant ownership or career move within the next year. The shift is already happening.

The questions respondents ask reveal what's missing: strategic tax planning, vetted deal access, peer networks operating at their level, and operational knowledge that comes from execution rather than theory. Curated pathways to ownership matter more than generic education.

The infrastructure for moving from earning to owning is the next frontier in wealth creation for this demographic.

— Survey Interpretation

Join the Ownership Movement

Turn what you know into what you own.

Methodology & Notes

Survey Period: January 2025

Total Respondents: 93 participants

Demographics: 86% Black/African American, 60% female, 40% male. 69% hold Master's degrees, 14% hold professional degrees (JD, MD). Primary income ranges: $100K–$500K+.

Anonymization: All individual responses were anonymized. Quotes are presented without identifying information.

Data Notes: Percentages are rounded to the nearest whole number. Some respondents selected multiple options where applicable, so certain categories may sum to more than 100%.

Survey Design: Conducted by Gravy Wealth to understand the wealth-building priorities, barriers, and ownership aspirations of high-earning professionals.