Posted on 03/14/2025 9:16:04 PM PDT by SeekAndFind
The average American’s net worth across all states is nearly $595,000. However, wealth levels vary among states alongside cost of living and other factors.
As Visual Capitalist's Alejandra Dander notes, according to anonymized data from nearly 2 million Empower Personal Dashboard™ users, we highlight the top ten states with the highest average net worth per person.
Net worth is calculated by taking what a person owns (their assets) and subtracting what they owe (their debts). Here are the leading states by net worth as of September 2024.
Connecticut has the highest net worth of nearly $920,000, but also has higher prices than the U.S. average. Meanwhile, California and Washington are the only Western states to make the top ten, and Illinois is the only one from the Midwest.
In total, U.S. household wealth hit a record of $164 trillion in the second quarter of 2024. This is an improvement over the pre-pandemic peak of $152 trillion. The increase in the second quarter was driven primarily by more than $1.7 trillion in real estate gains and $662 billion in stock gains.
Nearly three-quarters of people expect to increase their net worth in 2024. This is important given that nearly half of Americans define financial independence as reaching a certain net worth. What are some strategies people plan to take to improve their finances?
Prioritizing investments (80%)
Asking for a raise (35%)
Getting a second job (25%)
When it comes to planning for the future, Americans say “dreamscrolling”—looking at dream purchases—helps them to be smarter with their money (56%) and better plan to achieve their financial goals (25%).
In order to build net worth, Americans can focus on both reducing debt and increasing savings and investment contributions. Tax-optimized retirement savings accounts like IRAs and 401(k)s can play a critical role in building net worth.
Apart from the tax advantages, nearly all companies with 401(k) offer some kind of matching contribution based on how much an employee contributes. Yet only 35% of people are contributing enough to get their employer match, suggesting workers should take a closer look to avoid leaving money on the table.
A lot of super rich who work in Manhattan live in Connecticut
Odd. A quick search shows average U.S. net worth at over $1M. Median is much lower.
Median, not Average, dummies.
And now line that data up with a chart showing the states with the highest cost of living....
the handful of billionaires throws off the averages, show me the states with the highest median salaries.
net worth I mean
When it comes to planning for the future, Americans say “dreamscrolling” — looking at dream purchases — helps them to be smarter with their money (56%) and better plan to achieve their financial goals (25%).
What a pant-load! "Dream-scrolling" practiced only by people figuring out what numbers to choose for tomorrow's lottery.
Notice that the article focuses solely on high-net-wealth individuals? I think that it would be quite interesting to instead examine those U.S. states with the lowest net worths, and consider what they might be doing wrong.
But that probably wouldn't be "politically correct."
This article is nothing but a "come-one" to lure in clients for some investment scheme.
Regards,
How much of that is tied to the value of their houses? I’d bet a lot of it is. Real Estate is outrageous in several of those states.
How many truly wealthy people take online polls anyway?
-PJ
That was my thought, too. “Now do Median incomes for the same states.”
I bet most of these net worth are tied to the homes they own and the amount they saved on their 401k and IRA.
Easily erased if you don’t have good health insurance and suddenly get a debilitating illness.
I noticed my state is not even on the list & I can certainly believe that.
I noticed my state is not even on the list & I can certainly believe that. Also, it is not mentioned on ones with the least net worth.
That per person average works out to be a LOT, for a few, and average - below average for the majority.
Also, it is not mentioned on ones with the least net worth.
NM?
MS?
Net Worth USA Percentiles – Top 1%, 5%, 10%, and 50% in Net Worth The top 1% of net worth in USA in 2025 = $11,600,000 The top 2% of net worth in USA in 2025 = $2,700,000 The top 5% of net worth in USA in 2025 = $1,170,000 The top 10% of net worth in USA in 2025 = $970,000 The top 50% of net worth in USA in 2025 = $585,000
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