State with the most Millionaires

Happy St. Patrick's Day! I hope everyone has a bit of green on. If not, here's a little cyber pinch sent your way. I of course put on a cute green shirt along with some greenish eyeshadow.

Since it's St. Paddy's Day and the mood is green, let's talk about MONEY-honey-MONEY. A survey came out and reported a significant decline to the number of millionaires in America. Specifically from 5,607,989 in 2008 to 5,139,385 in 2009. But if you're one of them rich folks that's able to hold onto your ranking, kudos to you! Why? Because you're in the top 4.46%!

Keep in mind this excludes real estates. So that's very impressive!

As you know, I'm HOUSE rich but CASH poor. So I'm definitely not even close to being a millionaire. Surprisingly California is not #1 on the list but #9. It said that CA has the most millionaires but because our state has so many households, this dragged down our ranking. Can you guess which state is #1?

For more fun reading click here: The Richest States in America.


Investing Newbie said...

That is interesting, because Forbes reported an increase in the number of billionaires (793 to be exact from last year) Are you considered a millionaire with a net worth of $900M? Maybe millioniares became billionaires last year...

Money Honey SF said...

Investing Newbie - That's a good analysis. If you were to have $900m last year and just $100m shy of being a billionaire is that still considered a millionaire?

How about if someone had a net worth of $999,999.99? They are 1 cent shy from millionaire status.

Sometimes i question the validity of these surveys. But nonetheless, it's fun reading.

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Money Reasons said...

New Jersey and to a lesser extent Alaska was a surprise to me!

Nice chart!

Money Funk said...

California is on there because you Need To Be a millionaire to make it in this state. LOL. (that dollar isn't worth as much here, as I know you are aware).

Hawaii... I hear all the rich people go there to retire. I can see why (that is where I am heading in a week :)).

I love looking at the stats, too.