US (investable) millionaires by state

[Dtail]

I live in Florida in a MCOL area and IMHO notice that general and personal finance knowledge is not up to par with folks in the Northeast.
Maybe no correlation....

 

[CardsFan]

The map was showing the breakdown by state. Maybe I missed it, but last I knew DC wasn't a state, there are 50 stars on the flag

But here's a map with DC called out. I like this graphic, shows the change that's occurred from 2000-2010, pretty interesting to see.

https://census.missouri.edu/one-quarter-of-u-s-residents-live-in-poverty-areas/

Just noticed why this chart is so different than the previous one posted. Read the title carefully. It is NOT the percentage living in poverty, but the percentage living in neighborhoods where 20% or more have an income below the poverty level.

 

[Koogie]

Yes, they are doing better than the poorest US states, except for the Arctic provinces. Too tough for the natives to make any money up there.

But this is interesting: the Yukon is doing better than BC (9.7% against 15.3%). Who wouldda thunk? I always knew Alberta was doing well, but Yukon even better? Wow.

Not really a surprise. There are only about 35K people in the entire territory.
A significant portion of those are not "from" the Yukon but migrate there from elsewhere in the country. They tend to either have work lined up, find it fast or leave.

 

[JoeWras]

Just noticed why this chart is so different than the previous one posted. Read the title carefully. It is NOT the percentage living in poverty, but the percentage living in neighborhoods where 20% or more have an income below the poverty level.

Neighborhoods are "census tracts". Many tracts are large rural areas. Traditional farming methods are quite different North to South.

 

[NW-Bound]

Just noticed why this chart is so different than the previous one posted. Read the title carefully. It is NOT the percentage living in poverty, but the percentage living in neighborhoods where 20% or more have an income below the poverty level.

Yes. It means some states are more "democratic", and have less of the exclusive areas that segregate the rich from the poor.

 

[mijoy]

By the looks of the portfolios in the "Here I am" forum those numbers seem small. I thought everyone was a millionare.

 

[mijoy]

Hmm, I wonder how that compares to the population of each state?
Go figure - states with higher populations tend to have more millionaires! Who'd a thunk it?

I just googled Massachusetts. Claims 6.86 million people. Total households 2.4 million. Pie chart says 199K millionares. Going my households that is 8.3% which seems to fall in line with other data I have seen.

 

[cnocmmz]

Kind of a cool graphic at this site: Visualizing U.S. Millionaires by State of Residence

Doesn’t seem correct, bc VT, Ma, and those states must have more then shown on chart?

 

[2Moutal]

Here's the problem with graphs like this.....

I see these graphs of millionaires per state and poverty levels. BUT, since the poverty levels are from US Census and is a hard number, they probably do NOT account for major differences in cost of living. $500,000 in investable assets in NY or CA is nothing, but $500,000 in the Midwest and most areas outside of major metro areas is great.

The same rational as mentioned above applies for the number of millionaires per state.

People should not get all wrapped up into graphs or numbers like this, it's kind of like someone is cooking the books and skewing numbers just for their own agenda.

Be very skeptical of what you read.