A research firm called Phoenix Marketing International compiles an annual list of the states with the most millionaires, and I'm proud to announce that New Jersey ranks third in the nation. The firm defines a millionaire as a household with a million or more dollars in investable or liquid assets, not counting retirement plans and real estate. According to that definition, 6.2 percent of all households in the Garden State are millionaire households.
That places us third behind Hawaii (6.4 percent of all households) and Maryland (also 6.2 percent), and just ahead of Connecticut and Virginia.
These numbers have just been clobbered by the recession. The total number of millionaire households in the U.S. has declined by 14 percent over the past two years. Hawaii's millionaire percentage was at 7.26 percent just last year.
The city with the highest percentage of millionaire households is a bit of a surprise: Los Alamos, New Mexico, with nearly 10 percent. Who knew?
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