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
