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A.G. Edwards’ Nest Egg Study
By JLP | December 14, 2005
Here’s an interesting story about a recent study that A.G. Edwards conducted regarding the savings rates of the fifty states and various cities.
Of the fifty states, New Jersey came in number at number one with an index 114.35, while the average index for the fifty states was 100. My home state of Texas came in with an index of 92.02, nearly 8 points off the national average.
Of the 200 cities in the study, Houston, the town I’m closest to, came in at 199 with an index of 95.73! Number one in the list of cities was San Jose, CA with an index of 128.37.
Is this study of any use?
We already know as a nation that we are poor savers. So, for Texas to come in that low in the rankings tells me that Texas residents are in really sad shape.
Although this study is interesting, it doesn’t really tell us much as to how we, as a nation, are doing compared to other nations. New Jersey may be doing the best of the fifty states, but how do they compare to other places around the world? My guess is that their number wouldn’t look quite as impressive.
Thanks to Tylor Boland of Carmichael Lynch Spong for alerting me to the story.
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