list of millionaires in west virginia
Bridgeport in particular houses the richest residents in the state thanks, in part, to a median household income of $87,936 and a ridiculously low poverty rate of 4.4065544729849435%. The greater D.C. area is a magnet for the highly educated seeking high-powered jobs. The southwest corner of the state is the base for many hedge funds and prominent public companies. While Home Depot earnings disappointed, fellow blue-chip retailer Walmart climbed after its quarterly results. But last year, at least, the good times continued to roll. To estimate the most accurate annual salary range for Upper Class jobs, ZipRecruiter continuously scans its database of millions of active jobs published locally throughout America. Arizona's median home values are above the national level, but its cost of living remains more than reasonable. The numbers get a big lift from Summit Park, a small town with one of the very highest concentrations of millionaires in the country. Wall Street analysts believe these five stocks should be near the front of your sell list. Property taxes are middle of the road, and the state scores well for fiscal stability, indicating that it will be able to stay tax-friendly in the future. As for the better-paying occupations, managers in finance, marketing and information systems are in the top 20 for average salary. St. Albans. Property tax rates in South Carolina are low too. South Charleston. The state is 3.5% less expensive than the U.S. as a whole. The cost of living in the Nutmeg State is 19% greater than the national average. Home West Virginia University How Many Millionaires Live In West Virginia? Alaska gives each legal resident who has lived in the state for a full year an annual "Permanent Fund Dividend." Part of Arizona's appeal to the wealthy and retirees is that, like Florida, it's one of Kiplinger's most tax-friendly states. West Virginia is the second-poorest U.S. state, with a $48,850 median household income and a poverty rate of 17.54%. In a notable downside for retirees of all means: Missouri ranks 39th in the nation for senior health, according to America's Health Rankings (opens in new tab). There are nearly 2,400 people worldwide whose individual net worth exceeds $1 billion and more than one-quarter of them live in the United States. A financial advisor can help you understand the advantages and disadvantages of investment properties. Phoenix MI is tracking the effects of the coronavirus pandemic, which could make for a very different landscape going forward. But today's picture is more pedestrian. And although median income is 24% below the national level, home prices are a whopping 42% cheaper than the U.S. median. Torrington, the largest town in Litchfield County which has long been a popular retreat for Manhattan's wealthy and chic looking for a remote, mountainous getaway also has more than its fair share of the well-to-do. They are also home to some of the richest people in the Mountain State. When it comes to paying taxes, the situation for Kentucky residents is mixed. The Ocean State's sales taxes lean high (and are above its neighboring states), but the income tax bite is modest. The 9.9% rate is applied to taxable income over $125,000 ($250,000 for married couples filing jointly), and the lowest bracket is already 5%. He has written for The Wall Street Journal, Bloomberg, Consumer Reports, Senior Executive and Boston magazine, and his stories have appeared in the New York Daily News, the San Jose Mercury News and Investor's Business Daily, among other publications. The cost of living in Indiana overall is 10.7% below the national average. Groceries and utilities are a bit pricier in the Sunshine State, but as a whole, Florida is only 0.6% more expensive than the U.S. average. The 25 Best Low-Fee Mutual Funds You Can Buy. Easing the sting of taxes a bit is a cost-of-living index that's 10.8% lower than the U.S. average. Oral and maxillofacial surgeons make an average of $280,940. If you're a joint filer, you won't hit the top bracket until your income is over $318,000. Sales taxes have a broad reach here (and include groceries), but they're generally low. Median income for all households is below the U.S. level, and yet home prices are well above the national median. Mars, who lives in McLean, worked for the company for nearly 20 years and served on the board until 2016. A long-time financial journalist, Dan is a veteran of SmartMoney, MarketWatch, CBS MoneyWatch, InvestorPlace and DailyFinance. From the greater Boston area to the tip of Cape Cod, Massachusetts has more than its fair share of millionaire households. They also have a higher ranking in this year's millionaire rankings, jumping four spots from last year. However, it remains to be seen what happens to their ranks amid an historic crash in oil prices. Affordability is the main factor. By Charles Lewis Sizemore, CFA Social Security, military, civil-service, and state and local government pensions are exempt from state income taxes. . Offsetting that somewhat is the fact that the Sunflower State is not the friendliest place when it comes to taxes. Those who earn more than $373,894 are rich. Although Minnesota affords residents a cost of living that's 2.5% below the national average, median home value (and median income) easily top national levels. -10-24. The cost of living for Illinois is 1.9% below the U.S. average, but taxes can take quite a toll. Affordability across a wide swath of goods and services has made Memphis, Knoxville and Jackson some of the least expensive places to live in the U.S. More broadly, the state's cost of living is 10.1% below the national average. You can find out more about him on LinkedIn or his website. Publisher: Taylor Trade Publishing; Reissue edition (November 16, 2010) Publisher: Taylor Trade Publishing; Reissue edition (November 16, 2010) After we collected the data for all 25 places with more than 5,000 people in West Virginia, we ranked each place from 1 to 25 for each of the criteria, with 1 being the richest. Tennesseans also tend to keep more of their hard-earned dollars. South Dakota is one of the most tax-friendly states on the whole. Physicians, CEOs and nurse anesthetists are among the state's best-paid jobs. The 11 Best Closed-End Funds (CEFs) for 2020. Housing, in particular, is pricey. The cost of living in Washington is 7.8% higher than the national average, according to the BEA. The top tax bracket is an eye-popping 11%. Wisconsin ranks among Kiplinger's least tax-friendly states, thanks to high income and property taxes. Finding the best ETFs to buy in a high-inflation environment can seem like a tall task, but these five picks are a good place to start. The Richest People In West Virginia. Income taxes are on the high end because more than 200 school districts and Appanoose County add their own income taxes on top of the state-level tax. Indeed, an hour's drive north of Walt Disney World, you'll find The Villages, a sprawling retirement haven with a high percentage of affluent residents. Where is the highest concentration of millionaires? Arkansas is not tax-friendly. World-class ski resorts and luxury shopping are the main draw. Taxes are rough, too. Michael Bloomberg, founder of the financial data company that bears his name and erstwhile presidential candidate, is the state's richest person at a net worth of $60.1 billion. Indeed, Salina and Pittsburg, Kansas, are two of the cheapest small towns in America. And major state and local taxes are above average, which can add up to a sucker punch for your wallet. For a $400,000 home, the state-wide average tax in Nebraska comes to $7,421 per year. Colorado has a relatively high concentration of millionaire households partly because it's an outdoor recreational paradise. The combined net worth of the billionaires in some U.S. cities exceeds the entire annual GDP of many states. Maryland's 23 counties and Baltimore City have income taxes ranging from 1.75% to 3.20% of taxable income on top of the state's take. Naturally, Maryland also is one of the most expensive places to live, with a cost of living 18.8% greater than the national average. Austin's hearing aid company's charitable foundation, long known for its glitzy galas and celebrity supporters, took a $350,000 to $1 million PPP loan. Millionaire households: 87,565. Yet outside of Los Alamos, the state's concentration of millionaires puts it in the bottom 10 in the U.S. Retirees will be happy to know that the tax on Social Security income is in the process of being phased out over a three-year period. LINK TO NETSTATE . HENRY stands for high earner, not rich yet, and is typically a younger earner who enjoys an income of $100,000 to $250,000 a year. List of countries by number of billionaires, "California Leads All States (And All But 2 Countries) With 111 Billionaires", "Gov. Stephen Bisciotti, owner of the NFL's Baltimore Ravens, is the state's richest citizen with a net worth of $4.4 billion. SammamishMost Affluent Small Cities: 50,000 to 100,000 Residents. Property taxes in Illinois are high, as are sales taxes. By Jeff Reeves #8. Shipping and agriculture, the state's other major industries, aren't immune to changes in global demand either. California's reputation as a high-tax destination is built in part on how aggressively it goes after big earners, with a 13.3% tax rate that kicks in at $1 million (for single filers) of taxable income. While the Hoosier State exempts Social Security benefits and offers limited exemptions for military pensions and federal civil-service pensions, IRAs, 401(k) plans and private pensions are fully taxable. The population ratio is based on 1 Jul 2019 U.S. Census Bureau data. This is nearly double the 650,216 millionaire households in Texas, the state with the second-highest number. The Bluegrass State recently moved to a 5% flat tax and opened up more items to its 6% sales tax. In an extreme example, Tupelo is one of the 10 cheapest cities in the U.S. Mississippians also enjoy some of the lowest property taxes in the nation, and its income tax levy, already fairly low, continues to shrink. Breckenridge, Glenwood Springs and Boulder punch well above their weights in the millionaire rankings as well. Property taxes are low in the Natural State, but sales taxes are tied with Tennessee for highest in the country. And thanks to abundant revenue that the state collects from oil and mineral rights, Wyoming millionaires shoulder one of the lowest tax burdens in the U.S. With no income tax, it's No. West Virginia, meanwhile, lost its only billionaire, the state's governor Jim Justice, after . Check out his net worth and all of the other people on the list HERE . Sales taxes are high (and are applied to groceries), and property taxes are steep, too. Bucolic Wisconsin's 138,283 millionaire households enjoy a relatively affordable cost of living, but taxes in the Badger State can be quite a burden.
