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Top Ten States for Making Money

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Yesterday I reviewed per capita personal incomes by state from 1990 to 2012 as reported by the Bureau of Economic Analysis. That’s a long enough time-frame to eliminate any outliers. In terms of average annual growth in per capita income growth over that time period, most of the top ten are “red” states. Washington, D.C. was number two, but unlike the pencil pushers at the Dept. of Commerce, I don’t consider it to be a state. The fact that it’s number two tells you all you need to know about government overreach at the federal level. Many of the top ten states are as far away from D.C. or California (the D.C. of the west) as you can get. And I was surprised that Vermont made the list, but then again the best thing going for it is, it isn’t New York. Here’s the list of the states and their average growth rate for the last 23 years. These ten states had income growth well above the U.S. average of 3.69%.

Top Ten States  Avg. Personal Income Growth per Year

  1. North Dakota     5.65%
  2. Wyoming             4.76%
  3. South Dakota     4.72%
  4. Louisiana             4.48%
  5. Mississippi          4.31%
  6. Oklahoma           4.18%
  7. Montana             4.16%
  8. Iowa                      4.16%
  9. Vermont              4.16%
  10. Texas                    4.12%

Originally posted June 26, 2013.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.