Connecticut is now the nest egg state

Connecticut is the top-scoring state, and Los Alamos, N.M., is the top-scoring community, for personal-savings and investing behavior, according to A.G. Edwards & Sons Inc.
NOV 05, 2007
By  Bloomberg
Connecticut is the top-scoring state, and Los Alamos, N.M., is the top-scoring community, for personal-savings and investing behavior, according to A.G. Edwards & Sons Inc. The St. Louis-based brokerage firm recently released its third annual Nest Egg Index, in which it ranked the 500 top-performing communities and the 50 states in those regards. In compiling the index, A.G. Edwards measured a dozen statistical factors, including participation in retirement savings plans, personal-debt levels and homeownership. Communities that ranked highly in the index continue to benefit from strong local housing markets and show a high propensity for saving in retirement plans such as 401(k)s or other pension plans, the company said in a release. The high-ranking communities had higher costs of living than the national average, A.G. Edwards said, but most of them also had lower debt levels. Mississippi was the lowest-ranked state in the index, and Birmingham-Hoover, Ala., was the lowest ranked of the 500 communities in the index. "When looking at the state rankings, we can see clearly that the Midwest continues to be the geographic area where more residents are actively working toward building their nest eggs," said Sophie Beckmann, A.G. Edwards' personal-finance strategist, according to the release. While economic and employment conditions can hinder savings, she said, "the traditional axioms of starting early and developing a disciplined approach to saving are personal choices investors make that help them in the end."

Latest News

Prime Capital Financial, Carnegie expand Eastern footprints
Prime Capital Financial, Carnegie expand Eastern footprints

The two national RIA firms are bolstering their presence separately in Georgia and Connecticut with new billion-dollar acquisitions.

Embattled TD Bank eyes $14B raise in Schwab stake exit
Embattled TD Bank eyes $14B raise in Schwab stake exit

The banking giant is looking to sell its interest in the online brokerage giant amid the continuing fallout of its historic money-laundering settlement with federal regulators.

Next-gen woman advisor managing $200M switches from UBS to Sanctuary Wealth
Next-gen woman advisor managing $200M switches from UBS to Sanctuary Wealth

Advisor joins the Partnered Independence model for new firm launch.

How did US institutional investors navigate the choppy waters of Q4, 2024?
How did US institutional investors navigate the choppy waters of Q4, 2024?

Median return for institutions managing a combined $1.4T revealed.

Trump set to hit foreign steel imports with 25% tariffs
Trump set to hit foreign steel imports with 25% tariffs

Canada, Mexico appear to be included despite pause on other levies.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.