MERIC NEWS LETTER

Missourians Saving Above National Average

In a study conducted by the brokerage firm A.G. Edwards showing personal saving and investing behavior of U.S. communities and states, Missouri scored higher than the national average with three communities in the state (Kansas City, St. Louis, and Jefferson City) also scoring higher than the national average.

The firm ranked 500 communities and the 50 states by measuring 12 statistical factors—including participation in retirement savings plans, personal debt levels, and home ownership.

Missouri ranked 25th among all states, with an index score of 101.1, above the national average index score of 100.
 

States with the highest index scores were Connecticut (114.25), New Jersey (113.21), Minnesota (112.59), and Massachusetts (112.19). Three of Missouri’s border states ranked higher—Illinois (106.44), Kansas (102.84), and Iowa (102.8).



Communities and states that ranked high in the third annual Nest Egg Index continue to benefit from strong local housing markets and show a high propensity toward saving and investing in retirement vehicles such as 401(k) or pension plans, according to the study.


Two communities in Missouri ranked in the top 100 and three fared better than the national average—Kansas City (ranked - 84th, index score - 107.20), St. Louis (ranked - 95th, index score - 106.88), Jefferson City (ranked - 166th, index score -104.23).

The top saving communities in the country were Los Alamos, NM (134.83), San Jose-Sunnyvale-Santa Clara, CA (127.61), and Bridgeport-Stamford, Norwalk, CT (125.15).
 

Community

Index Rank

Index Rating

Kansas City

84

107.20

St. Louis

95

106.88

Jefferson City

166

104.23

Hannibal

374

97.67

Cape Girardeau-Jackson

382

97.43

St. Joseph

393

97.22

Branson

394

97.18

Springfield

433

96.12

Columbia

472

95.23

Sedalia

473

95.21

Mexico

486

94.90

Joplin

491

94.76

Marshall

498

94.57

Missouri

25

101.10

To create its Nest Egg Index, A.G. Edwards gathered data, specific to each market and state, on 12 statistical factors that directly affect or influence personal savings habits, including:

• Savings propensity (proportion of households in the area that have a savings product of any type — e.g., regular savings account, CD, IRA)
• 401(k) retirement plan penetration
• Non-401(k) retirement savings plan penetration (e.g., pension plans)
• Investing propensity (proportion of households in the area that have any investment product or service, excluding 401(k) plans)
• Net worth
• Owner-occupied housing value
• First mortgage balance
• Personal debt level
• Home ownership
• Household income
• Cost of living
• Local employment rate

 

Source: AG Edwards

 To view the entire dataset and other details about the study, click on the link below: http://www.agedwards.com/public/content/sc/invedu/nest_egg_savings/nest_egg_index.html

                           

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