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By David Mendoza - Monday, February 16, 2015

Last month, Phoenix Marketing International (PMI) released its yearly estimate of millionaire households in the United States. Maryland claims the top spot for the fourth consecutive year. More than 7% of households in the Old Line State had investable assets worth more than $1 million. The Wall Street Journal notes that PMI defines investable assets as “liquid holdings, such as stocks, bonds, savings accounts and cash,” but excludes real estate and retirement investments. Connecticut and New Jersey came in second and third at 7.2% and 7.1%, respectively. Nationally, 5.2% of households have more than $1 million in investable assets.

The GIF above displays PMI’s millionaire rankings since 2006. As we can see, the Great Recession temporarily decreased the share of millionaire households, but that trend quickly reversed itself. Since the end of the recession in 2009, the recovery has largely benefited the wealthy. As economist Justin Wolfers points out on The Upshot, “After adjusting for inflation, the average income for the richest 1 percent (excluding capital gains) has risen from $871,100 in 2009 to $968,000 over 2012 and 2013.” For everyone else, average income fell over the same time period.

I should mention that to be part of the 1%, you do not need to make over $1 million. A new study by the Economic Policy Institute reveals that in every state you could earn less than that and still be part of your state’s top earners.