An article came across my desk about millionaires and their “migration”. No, not migration to some sunny island, rather migrating to another state in the U.S.: Top 10 Surprising States with the Most Millionaires” (Phoenix Wealth & Affluent Monitor, February 17, 2017)
According to the article: “ Wealth is more concentrated and shifting geographically…”
So where do the millionaires migrate and which states top the list of having the most millionaires? More research concluded that Colorado did not make the top ten listing.
In 2015, according to thinkadvisor.com there were “6 million U.S. households with $1 million or more of (investable) assets.”
The top ten on that list: (which includes the District of Columbia) are: D.C.; Delaware; New Hampshire; Massachusetts; Virginia; Alaska; Hawaii; New Jersey; Connecticut and Maryland.
What makes these states so attractive to millionaires?
Apparently not taxes or cost of living, since New Jersey is a high tax state and Alaska is expensive to live. Climate is not a deciding factor, think Alaska versus Hawaii!
I considered that perhaps the state mottos might have a connection?
If you are a millionaire – Why not migrate to a state with an attractive motto? (Just one thought)
So here are the interesting mottos of the above ten states:
D.C. – motto on corporate seal – Justice to all
Delaware – Liberty and Independence
New Hampshire – Live Free or Die
Massachusetts – (Latin) By the sword we seek peace, but peace only under liberty
Virginia – (Latin) thus always to tyrants
Alaska – North to the future
Hawaii – (native Hawaiian translation) The life of the land is perpetuated in righteousness
New Jersey – liberty and prosperity
Connecticut – (Latin) He who transplanted sustains
Maryland (Italian) strong deeds, gentle words
Thus, the words that seem to attract millionaires? Justice, liberty, independence, freedom,future, peace, righteousness, prosperity, deeds.
By the way, the motto (Latin) of Colorado is “Nothing without providence”
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