Watch out, Connecticut. In a few years New Jersey will be crowned the state with the highest density of millionaires.
Last year, 14.2 percent of households in Connecticut had more than $1 million in assets. By 2020, 24.6 percent of the population of New Jersey is expected to by millionaires, according to a new study that maps out the global distribution of wealth.
California, Texas, New York and Florida will likely be home to the greatest number of millionaires in 2020, while the Midwest is forecast to have the fewest, according to the study, which was sponsored by the Deloitte Center for Financial Services.
Wealth among millionaire households could more than double over the next decade in 25 major economies, the study found, growing from an estimated $92 trillion this year to $202 trillion in 2020.