A million bucks doesn’t go as far as it used to, but it is still a lot of money. Nationally, only 5.8% of households have $1 million or more in investable assets. But the wealth isn’t evenly distributed across the states.
According to Kiplinger the states with the highest concentration of millionaires are as follow:
- Maryland (7.87%)
- New Jersey (7.86%)
- Connecticut (7.75%)
- Hawaii (7.57%)
- Alaska (7.50%)
- Massachusetts (7.41%)
- New Hampshire (7.36%)
You can check out Kiplinger’s entire ranking of Millionaires by state here.
Jeremy Jones, CFA
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