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These 7 States have the Highest Concentrations of Millionaires

August 6, 2018 By Jeremy Jones, CFA

By ABGJ @ Shutterstock.com

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:

  1. Maryland (7.87%)
  2. New Jersey (7.86%)
  3. Connecticut (7.75%)
  4. Hawaii (7.57%)
  5. Alaska (7.50%)
  6. Massachusetts (7.41%)
  7. New Hampshire (7.36%)

You can check out Kiplinger’s entire ranking of Millionaires by state here.

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Jeremy Jones, CFA
Jeremy Jones, CFA, CFP® is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. CNBC has ranked Richard C. Young & Co., Ltd. as one of the Top 100 Financial Advisors in the nation (2019-2022) Disclosure. Jeremy is also a contributing editor of youngresearch.com.
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