Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, January 30, 2008

New Jersey Has the Highest Percentage of Millionaire Households in the Nation


According to New Jersey Has Highest Percentage of Millionaire Residents, Jan. 9, 2008, phoenixmi.com:

The Phoenix Affluent Marketing Service, a Phoenix Marketing International practice, announced today that New Jersey has become the state with the largest percent of millionaires to total households. Ranked second past two years, New Jersey vaulted past Hawaii, which fell to fourth in the 2007 rankings.***

“Traditional East Coast concentrations of wealth have continued to outperform most of the rest of the country,” says David Thompson, Managing Director of the Phoenix Affluent Practice. “This is a function of three factors: high levels of education; access to top paying jobs in finance and technology; and a stock market that has advanced over the past four years,” notes Thompson.***

The complete states’ rankings for 2005 through 2007 are available by visiting the Phoenix site at http://www.phoenixmi.com/prfiles/State_Rankings_Millionaires_2005-2007.xls.***

Special thanks to Neil E. Hendershot, Esq. (Attorney at law, Goldberg Katzman, P.C., Adjunct Professor, Widener University School of Law) for bringing this article to my attention.  You can read more on Neil's blog at PA Elder, Estate & Fiduciary Law Blog.


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