According to Phoenix Marketing International of New York, Hawaii continues to lead the nation in the percent of millionaires per overall population. The percentage of Hawaii’s population that is Asian, tops in the nation. For native Hawaiians and other Pacific islanders, Hawaii is also the leader, with 22 percent of the state’s population belonging to this race group.
PMI defines a millionaire household as one with $1 million or more in investable or liquid assets, excluding sponsored retirement plans and real estate.
The marketing firm announced Friday the number of millionaires in the U.S. has declined by 14 percent over the past two years.
But 6.4 percent of Hawaii’s households, or 28,363, are millionaires.
That’s down from 7.26 percent in 2008 but still high enough of a percentage to lead the nation for the second year in a row.
Rounding out the top five states in millionaires per population are Maryland (6.3 percent), New Jersey (6.2 percent), and Connecticut (6.2 percent). These states maintained their order of ranking from 2008.
Virginia (5.5 percent) cracked the top five in 2009, up from sixth place in 2008, while Massachusetts (5.4 percent) came in sixth in 2009, down from fifth place the previous year.
“While the top states in millionaire percentages were little changed from the previous year, overall, the market downturn has taken its toll on the ranks of millionaires in most states,” said David Thompson, managing director of the Phoenix Affluent Market.
Don’t knock Jersey until you REALLY Try it! I’ll take my Jersey any day! Perception is not reality.