WHERE THEMILLIONAIRES ARE-Kiplinger

Slide Show | April 2006

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WHERE THEMILLIONAIRES ARE

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In the book "The Millionaire Next Door," authors Thomas Stanley and William Danko studied Americans with a net worth of $1 million or more and found that affluence is much more attainable -- and may lurk much closer to home -- than we think. "More than 80% [of millionaires] are ordinary people who have accumulated their wealth in one generation," say Stanley and Danko. They also point out that the affluent tend to amass their wealth slowly and steadily and don’t necessarily live in the ritziest neighborhoods, drive the fanciest cars or bring home million-dollar paychecks.
Ever wonder how likely is it that your neighbor is worth a million bucks? Our city-by-city slide show reveals the ten places in the U.S. with the highest concentrations of millionaires. We weren’t interested in places where residents may be house-rich and cash-poor, so we looked only at households with a net worth of $1 million dollars or more, excluding the value of their primary residence. Our numbers come from market research firm TNS Financial Services. We also include a wealth snapshot of the top cities with the help of Sperling’s Best Places, the U.S. Department of Housing and Urban Development and the National Association of Realtors. Take a look:

Compiled by Erin Burt

WHERE THEMILLIONAIRES ARE
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