The biggest surprise of the year may be that the richest people in America are in the richest state.
The latest Wealth & Power Index, a new index that measures wealth in America, shows that the five states that have the most millionaire residents, New York, Connecticut, New Jersey, Massachusetts and Pennsylvania, have the highest median income and the highest net worth.
The index also has New York at the top of the list.
New York is the only state in the top 20 with a millionaire population of more than $1 million.
The next highest median household income in the nation is $42,300 for a person earning $85,000.
The state with the lowest net worth is Mississippi, which has a median net worth of $36,000 for a household of two people.
The states with the most people with incomes between $30,000 and $100,000 are New Jersey and California, which are both in the bottom 15 of the rankings.
A new index has the state of New York ranked first, followed by Connecticut, followed in order by Massachusetts and New Jersey.
“The most important thing is to recognize that it’s a good thing to have a wealth of money,” said Charles Grover, co-founder and chief executive officer of Wealth &s; Power, a data analytics firm.
“If you don’t have it, it’s hard to build it up.”
Grover said that wealth inequality has grown in recent years and he wants to see more efforts to address it.
“We have to take more money out of the pockets of those who have it,” he said.
The Wealth &ams; Power index includes the income, assets, net worth, net assets and net worth adjusted for inflation.
New Jersey has the highest number of millionaires at 1,087, followed closely by Connecticut with 754, Massachusetts with 636, New Hampshire with 603, and New York with 582.
Grover believes that there is a growing trend for millionaires to be wealthier in New York City and New England, where the median household wealth is $83,600, according to the report.
“In New York and New Hampshire, there is more wealth inequality,” he added.
“But in other places like California and New Mexico, they have very low levels of wealth inequality.”
The index is based on data from the U.S. Census Bureau and Bureau of Labor Statistics.
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