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A new study has been completed showing where the richest people in America live and it isn't surprising that southern California dominates this listing.
Three of the top five counties are the three coastal counties of southern California, one (Maricopa County, AZ) is a place where California refugees tend to resettle, while the other is near Chicago. The remaining top ten come from the usual suspects MA, northern CA, NY, FL, and surprisingly Texas (abeit the bluest part of Texas outside of Houston).
Now if only the non-millionaires saw even a tiny fraction of the improvements that the super rich have seen. We all know they don't count to the politicians in charge though since they don't give campaign contributions.
1 Los Angeles County, CA 262,800
2 Cook County, IL 167,873
3 Orange County, CA 113,299
4 Maricopa County, AZ 106,210
5 San Diego County, CA 100,030
6 Harris County, TX 96,593
7 Nassau County, NY 78,816
8 Santa Clara County, CA 75,371
9 Palm Beach County, FL 69,871
10 Middlesex County, MA 67,552
2 Cook County, IL 167,873
3 Orange County, CA 113,299
4 Maricopa County, AZ 106,210
5 San Diego County, CA 100,030
6 Harris County, TX 96,593
7 Nassau County, NY 78,816
8 Santa Clara County, CA 75,371
9 Palm Beach County, FL 69,871
10 Middlesex County, MA 67,552
Top 10 millionaire counties
The number of millionaires rose to a record level in 2005, and more than 1.1 million of them can be found in just 10 counties.
By Jeanne Sahadi, CNNMoney.com senior writer
March 28, 2006: 10:22 AM EST
NEW YORK (CNNMoney.com) - The number of American millionaires rose to a record level last year, and they're disproportionately located in four counties in California, according to an analysis released Tuesday.
Other states with counties that boast the highest number of millionaires across the country are Illinois, Arizona, Texas, New York, Florida and Massachusetts
Nationwide, households with a net worth of at least $1 million excluding primary residences rose 8 percent to a record high 8.9 million, according to an annual report by TNS Financial Services, a market research and polling firm.
The firm's survey found that the millionaire households had an average net worth, excluding principal residence, of nearly $2.2 million, of which more than $1.4 million was in liquid, or investable, assets.
Their overall debt levels, meanwhile, fell by 8 percent, from $179,000 to $165,000.
Who's heading these households? TNS found the median age of the head of millionaire households is 58, and 45 percent are retired. Roughly 19 percent own in whole or part a professional practice or privately held business.
Over 50 percent of the millionaires surveyed said they had become more conservative in their investment approach over the past year. Their wealth is the result of long-term wealth accumulation.
Although real estate is not their sole source of wealth, it remains a staple for many. Forty-six percent of those surveyed own investment real estate like a second home or rental properties.
Seventy percent of the households, meanwhile, owned stocks and bonds, and 68 percent owned mutual funds
The number of millionaires rose to a record level in 2005, and more than 1.1 million of them can be found in just 10 counties.
By Jeanne Sahadi, CNNMoney.com senior writer
March 28, 2006: 10:22 AM EST
NEW YORK (CNNMoney.com) - The number of American millionaires rose to a record level last year, and they're disproportionately located in four counties in California, according to an analysis released Tuesday.
Other states with counties that boast the highest number of millionaires across the country are Illinois, Arizona, Texas, New York, Florida and Massachusetts
Nationwide, households with a net worth of at least $1 million excluding primary residences rose 8 percent to a record high 8.9 million, according to an annual report by TNS Financial Services, a market research and polling firm.
The firm's survey found that the millionaire households had an average net worth, excluding principal residence, of nearly $2.2 million, of which more than $1.4 million was in liquid, or investable, assets.
Their overall debt levels, meanwhile, fell by 8 percent, from $179,000 to $165,000.
Who's heading these households? TNS found the median age of the head of millionaire households is 58, and 45 percent are retired. Roughly 19 percent own in whole or part a professional practice or privately held business.
Over 50 percent of the millionaires surveyed said they had become more conservative in their investment approach over the past year. Their wealth is the result of long-term wealth accumulation.
Although real estate is not their sole source of wealth, it remains a staple for many. Forty-six percent of those surveyed own investment real estate like a second home or rental properties.
Seventy percent of the households, meanwhile, owned stocks and bonds, and 68 percent owned mutual funds
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