Best and Worst States at Minting Millionaires Since the Financial Crisis

Best and Worst States at Minting Millionaires Since the Financial Crisis

The 10-year bull market in stocks and longest economic expansion in U.S. history have minted many a millionaire since the darkest days of the Great Recession.

A decade ago, less than 1 in 20, or 4.9%, of all U.S. households were considered to be millionaires, according to Phoenix Marketing International, which tracks the affluent market. That means they held at least $1 million in investable assets, such as cash, stocks, bonds and funds, among other types of investments. Real estate such as the family home, employer-sponsored retirement plans and business partnerships don't count.

Cut to today, and 6.2% of all U.S. households are millionaires. In raw numbers, the nation's ranks of millionaires grew by more than 2 million over the past 10 years.

Naturally, the gains haven't been distributed evenly. Although every state and the District of Columbia has more millionaire households today than it did in 2008, some areas of the country are gaining millionaires as a percentage of total households at a much faster clip than others.

Kiplinger.com annually ranks all 50 states plus Washington, D.C., by their respective concentrations of millionaires. In the most recent tally, New Jersey leapfrogged long-time leader Maryland for the top spot. Nearly 9% of New Jersey households are millionaires vs. 8.9% for Maryland, which led the country in millionaires as a percentage of households from 2011 through 2017 before slipping to fourth place.

That got us thinking: How have state millionaire concentrations shifted since the financial crisis? Here, we look at the five best states that have risen through the millionaire rankings since the Great Recession ... and the five that have experienced the biggest dropoffs.

SEE ALSO: 25 Small Towns With Big Millionaire Populations

Read more: https://www.kiplinger.com/slideshow/investing/T006-S001-best-worst-states-millionaires-financial-crisis/index.html

29 Great Places to Retire Near the Beach

29 Great Places to Retire Near the Beach

The lapping waves. The majestic views. The vitamin D. Who can resist the siren song of life at the beach--and why would you want to? A growing body of research is confirming that waterfront living is good for you. For example, a recent study from Hong Kong, which focused predominantly on older citizens, found that closer proximity and more frequent visits to bodies of water correlates with higher reports of wellness, in terms of both physical and mental health. Plus, the increased opportunity for physical outdoor activity--whether it be walking the shores, paddling the surface, or diving into the deep--also offers proven health benefits. And while the ocean may be the natural go-to for those seeking water-related therapy, studies show that any so-called blue space--a term for any aquatic feature including lakes and rivers--can help boost your well-being.

So even if you can't quite afford a pricey oceanfront home for your retirement, you can still enjoy the benefits of retiring to a beach in hotspots all across America. Even in the Heartland, far from the coast, many U.S. locales offer access to freshwater beaches on lakes and rivers. We pinpointed a great place to retire in each state, taking into account living costs, safety, median incomes and poverty rates for retirement-age residents, as well as residents' sense of well-being and the availability of recreational and health care facilities. Of our 50 picks, 29 choice retirement destinations offer the added benefit of nearby beaches, within a 30-minute drive, where you can swim and bum around. The mix of retirement cities is sure to surprise you.

SEE ALSO: 50 Great Places for Early Retirement in the U.S.

Read more: https://www.kiplinger.com/slideshow/retirement/T047-S001-great-places-to-retire-near-the-beach-2019/index.html

10 States With the Lowest Gas Taxes

10 States With the Lowest Gas Taxes

For those of us who usually drive, seeing the price of gas on any given day can either make us want to take the long way home or wish we had access to public transportation. The state you live in (or, buy gas in) can affect how much you feel that cruising feeling, thanks to fuel taxes.

For instance, Virginia residents pay just $0.2195 a gallon. That's 14.75 cents less than their Maryland neighbors. For someone who drives 12,000 miles a year in a car that averages 25 miles per gallon, for example, that's a savings of $70.80 a year.

Here are the 10 states with the lowest gas taxes, along with a look at how these states fare on other big tax metrics, such as sales tax.

SEE ALSO: 10 States With the Highest Gas Taxes

Read more: https://www.kiplinger.com/slideshow/taxes/T055-S001-10-states-with-the-lowest-gas-taxes/index.html

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