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September 17, 2007
50 States Ranked by Workers' Nest Eggs

Residents of Connecticut are leading the country in planning and saving for retirement this year, according to a study by A.G. Edwards.

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A.G. Edwards created a Nest Egg Index to rate states based their resident's personal savings and investing behavior. The index looks at a dozen factors, including participation in retirement savings plans, personal debt levels, and home ownership.

With a rating of 114.5 on the firm's Nest Egg Index, Connecticut surpassed New Jersey (113.21) for this year's top spot in the state ranking. The firm says Connecticut showed improvement in the saving and investing categories, as well as reduced levels of personal debt for its residents.

The other states in the top five are Minnesota (112.59), Massachusetts (112.19) and Maryland (111.59). The national average is 100. You can find the ranking of all 50 states near the bottom of this article.

The index ranked local communities as well. For the second straight year, Los Alamos, New Mexico, topped the list of cities with a rating of 134.83. San Jose-Sunnyvale-Santa Clara, California, placed second, with a rating of 127.61. Bridgeport-Stamford-Norwalk, Connecticut, placed third with a rating of 125.15.

Ohio had the most communities in the top 500 list at 37, followed by Indiana (32), Pennsylvania (30) and Michigan (29). In addition, all 24 Wisconsin communities were ranked in the top 500. Only Arkansas, Louisiana, Mississippi, and Oklahoma had no communities represented in the top 500 rankings of this year's Nest Egg Index.

"When looking at the state rankings, we can see clearly that the Midwest continues to be the geographic area where more residents are actively working toward building their nest eggs," says A.G. Edwards Personal Finance Strategist Sophie Beckmann. "Americans as a whole may face external factors - such as economic and employment conditions - that can hinder the saving and investing process, but the traditional axioms of starting early and developing a disciplined approach to saving are personal choices investors make that help them in the end."

A.G. Edwards 2007 Nest Egg Index Ranking by State

Rank

State

2007 Nest Egg Index Rating

2006 Nest Egg Index Rating (Rank)

1

Connecticut

114.25

114.37 (2)

2

New Jersey

113.21

114.55 (1)

3

Minnesota

112.59

113.46 (3)

4

Massachusetts

112.19

111.77 (5)

5

Maryland

111.59

112.28 (4)

6

New Hampshire

111.23

110.78 (6)

7

Delaware

108.57

108.95 (7)

8

Wisconsin

107.49

107.29 (8)

9

Hawaii

106.96

104.86 (13)

10

Michigan

106.90

107.13 (9)

11

Illinois

106.44

105.93 (11)

12

Colorado

106.37

106.20 (10)

13

Virginia

105.92

105.42 (12)

14

Utah

104.50

104.32 (14)

15

Washington

103.87

103.84 (15)

16

Alaska

103.72

103.80 (16)

17

Rhode Island

103.35

103.49 (18)

18

Vermont

103.14

103.38 (19)

19

Pennsylvania

102.92

103.19 (20)

20

Kansas

102.84

102.80 (22)

21

Iowa

102.80

103.00 (21)

22

California

102.14

99.32 (27)

23

Nevada

101.52

99.56 (26)

24

Indiana

101.42

103.55 (17)

25

Missouri

101.10

100.70 (24)

26

Ohio

100.46

101.75 (23)

27

Maine

100.14

98.98 (28)

28

Oregon

99.60

100.05 (25)

29

New York

99.28

95.65 (38)

30

Arizona

99.01

98.49 (30)

31

Nebraska

98.18

96.99 (34)

32

South Dakota

97.75

96.82 (35t)

33

Idaho

97.47

98.61 (29)

34

Florida

97.40

97.47 (33)

35

Wyoming

96.95

97.68 (32)

36

North Carolina

96.92

97.72 (31)

37

North Dakota

96.86

96.26 (37)

38

Georgia

96.46

96.82 (35t)

39

South Carolina

95.16

94.16 (40)

40

Kentucky

93.48

92.94 (41)

41

Montana

93.29

94.30 (39)

42

Tennessee

92.86

92.50 (42)

43

Texas

92.46

91.85 (44)

44

New Mexico

92.38

91.94 (43)

45

West Virginia

90.42

90.33 (45)

46

Alabama

89.72

89.36 (46)

47

Oklahoma

88.19

87.91 (47)

48

Arkansas

87.66

87.22 (48)

49

Louisiana

87.58

87.03 (49)

50

Mississippi

86.50

85.94 (50)

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