Turns out the “1 percent” is all over Maryland

Occupy Wall Streeters take note — Maryland now has more millionaires per capita than any other state in America and 42.13 percent more than the national average, according to Phoenix Marketing International’s annual Global Wealth Monitor report.

The study concluded that 157,779 of the state’s 2,186,613 households had “$1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate).” That 7.22 percent proportion knocked Hawaii (7.21 percent) out of the top spot that it held for three years. 

The rest of the top five is New Jersey (7.19 percent), Connecticut (7.13 percent) and Massachusetts (6.41 percent). The national average is 5.08 percent of households, though those states at the top of the list all had one thing in common.

“All of the top 10 states increased their millionaire ratios during the past year,” said David Thompson, the Global Wealth Monitor managing director, in a statement. “The richest states keep getting richer.”

And when he says “richer,” he means it in the most readily measurable way — “investable or liquid assets” basically translates to “money.” The metric differs from the more commonly cited “net worth” in that it measures how much a household has available in cash and (non-real estate) investments, while net worth is how much money a person would have if they sold all their stuff.

You can also check out Campus Drive on Facebook and on Twitter at @theDBK.


Your two cents:

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s