US (investable) millionaires by state

[braumeister]

See how people get poorer as you go down in latitude, from the northern states to the southern ones. Keep going, and one sees how people do in countries near the equator.

Yeah, those Canadians are just rolling in dough, eh?

(Well, some Vancouverites are, I guess.)

 

[NW-Bound]

I would think the Canucks in general would do at least as well as the middling US states, and better than the poorest ones.

Thought of it some more. It may be that poor people can't survive in the colder states, so they move down south.

And as the Canadians are stuck above the 49th parallel, well...

 

[GravitySucks]

Not a surprise that Maryland is number one per capita. Think of the Capital in The Hunger Games.

Thanks!

 

[Cayman]

See how people get poorer as you go down in latitude, from the northern states to the southern ones. Keep going, and one sees how people do in countries near the equator.

The same general trend happens in Europe and Asia. I am sure this phenomenon has been observed, and treatises written on it. Is it because when you worry about freezing your buns off in the winter you have to save in order to have enough to keep them warm?

Yes, and brain bake. The sun's mighty warm as you go down in latitude.

 

[scrabbler1]

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?

This was my first thought, too. As a quick way to remember the rough ranking of state populations, at least for the more populated states, I think about their U.S. House representation (based on 2010 census). The only high-population state which stuck out a lot in terms of being well above its relative U.S. House representation was New Jersey, as it is only 11th in representation but 7th on the pie chart. Virginia was also well above its relative congressional representation.

 

[gerntz]

The number will be growing rapidly, thanks to the tech sector.
I just read in The Economist that the median salary at Facebook is $240K, and $200K at Alphabet.

Don't know why you say that. Numbers working in tech at high salaries aren't that great compared to overall population.

 

[gerntz]

Not a pie, but does this help?

Population Below Poverty Level by U.S. State - FactsMaps

Gov. poverty numbers fail to account for all the income support sources such as subsidized housing & whatever food stamps are called today. Perhaps I'm missing it, but I don't see numbers for DC & they are part of the population.

 

[JoeWras]

Don't know why you say that. Numbers working in tech at high salaries aren't that great compared to overall population.

It is kind of like saying US salaries will go up because of actor salaries.

A lot of the salaries quoted are for narrow segments of people who hit it right with the hot company, or are superstars, or include stock bonuses for a company with highly appreciating stock (i.e. Facebook).

The majority of tech workers are not in those positions.

 

[corn18]

 

[Dtail]

I would think the Canucks in general would do at least as well as the middling US states, and better than the poorest ones.

Thought of it some more. It may be that poor people can't survive in the colder states, so they move down south.

And as the Canadians are stuck above the 49th parallel, well...

Yeah if one is living in the streets, might as well be a warmer place.

 

[NW-Bound]

Yes, and brain bake. The sun's mighty warm as you go down in latitude.

No kidding. Good thing I still have a head full of hair to protect my gray cells, as I do not wear hats.

Says someone who lives in the dry heat.

 

[NW-Bound]

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.

 

[NW-Bound]

Here's another surprise. Having been to the Canadian Maritimes on an RV trek, I knew that New Brunswick and Nova Scotia did not do as well as Alberta which had oil. But they are doing better than BC? Who wouldda thunk?

I had been to BC more often than any other provinces, but where did I go other than Vancouver and Victoria? Of course people there had money. But outside of the metropolitan, I only made a pass through the Okanagan Valley recently, and that may not be representative either.

Perception and reality are different things, even for people who claim to "have been there".

 

[kgtest]

Is it because when you worry about freezing your buns off in the winter you have to save in order to have enough to keep them warm?

Maybe it's because we spend more time indoors, therefore forcing us into an advantageous financial state?



Or we have a lower COL due to less demand?

 

[NW-Bound]

The weather has a lot to do with people's activities, surely. When it is hot and humid, you can't work as hard outdoors. Go down to Mexico in the summer, and see what people do in midday other than taking a siesta.

And then, comes winter, it's too nice to do any work either. Not just physical activity, but mental work too.

Imagine if you put Einstein on a hammock like this, with a pina colada in hand. Would his mind be occupied with theory of relativity like it was, when he was cooped up inside by a fireplace while snow fell outside?

 

[bobandsherry]

See how people get poorer as you go down in latitude, from the northern states to the southern ones. Keep going, and one sees how people do in countries near the equator.

Off the top of my head, the north developed more with industrial development and south with farming, lower wages for farmers. States in the north have been around longer, so those who came to the party later missed out on the land of opportunity?

This map by county is somewhat enlightening. Shows that even the northern states have pockets of pretty significant poverty levels.

 

[bobandsherry]

Perhaps I'm missing it, but I don't see numbers for DC & they are part of the population.

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/

 

[NW-Bound]

Off the top of my head, the north developed more with industrial development and south with farming, lower wages for farmers...

True. Even in Europe, it looks like northern countries are more industrial, while the southern ones are more agricultural.

But why is it this way? Is it because where it is cold, people have to do things other than just farming, and it works out well in the long run with industrialization and modernization?

 

[braumeister]

True. Even in Europe, it looks like northern countries are more industrial, while the southern ones are more agricultural.

But why is it this way?

I think it's due to how many crops you can get in a year.

 

[Amethyst]

That is shocking!

But, what's so special about Wyoming? I know they have scenery, and coal. Maybe everyone owns a big ranch?

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/

 

[bobandsherry]

True. Even in Europe, it looks like northern countries are more industrial, while the southern ones are more agricultural.

But why is it this way? Is it because where it is cold, people have to do things other than just farming, and it works out well in the long run with industrialization and modernization?

Again, off top of my head, climate in south better suited for crops. Climate in north better suited for industrial, think about how hot factories would have been in summer in the south with no cooling. Bad enough in north. [emoji3]. Wages were probably comparable, but over time things changed. Industry required many people to work factories so densely populated which drove need for other business and brought more growth opportunities. South, scattered, wages remained low, lack of skills gave way to limited opportunities, many unable to break the cycle. I look at rural towns and see how they went from boom to bust. Most southern states also formed many years after those in north, so north had earlier advantage. Perhaps also why the west follows similar trend. But just my random thoughts on this.

 

[Gumby]

I think Jared Diamond had a whole book devoted to how different geographic areas developed differently - Guns, Germs and Steel

 

[deserat]

.....
And AZ does not have a high percentage of millionaires. Fine with me. I like to be a big fish in a small pond (although they do not know that by my "below-the-radar" appearance).

Yup - AZ is 13th on billionaire list which means they skew those over $1M numbers of people to a lower number in general......so you are even a bigger fish (and I )

 

[NW-Bound]

The diameter of the pie is the percentage of population in the graphics: 8%, 7% and 6% concentric circles.

The interesting one is AK. 8% ish.

The cost of living in AK is also above average ... and, wages have to be high to attract workers to a climate that is less than appealing...

In Barrow, the northernmost Alaskan town on the Artic Ocean shore, a frozen pizza is $18, and a pack of toilet paper $20. This is from a recent documentary. There's no road leading there, so everything has to be flown in on a 737.

Even in Valdez which is nowhere as remote, a bell pepper is $3, and a cucumber is $2. I saw this with my own eyes and posted a photo on another thread. This was in the middle of the summer. Comes winter, I don't know what the price of fresh fruit and vegetable will be.

PS. Valdez gets an average winter snowfall of more than 300". The road to Valdez goes through Thompson Pass, which gets 550" snowfall average.

 

[kgtest]

I think Jared Diamond had a whole book devoted to how different geographic areas developed differently - Guns, Germs and Steel

Thanks for the ref Gumby! Gonna check that book out.