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🗓️ 8 April 2024
⏱️ 6 minutes
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Discover 10 states where everyday Americans earn the most money. It's not where you would probably guess.
Are you investing well for financial freedom...or not?
Financial freedom is a combination of money, compounding and time (my McT Formula). How well you invest, makes a huge difference to your financial future and lifestyle.
If you only knew where to invest for the long-term, what a difference it would make, because the difference between investing $100k and earning 2% or 10% on your money over 30 years, is the difference between it growing to $181,136 or $1,744,940, an increase of over $1.5 million dollars.
Your compounding rate, and how well you invest, matters!
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Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America’s Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom.
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| 0:00.0 | Be wealthy and smart, episode 1334. If y'all know what I mean put your hands up and declare with me |
| 0:13.8 | Yeah, I'm full of pay eh hey I'm gonna live a good life |
| 0:20.8 | I'm gonna live the good life |
| 0:22.0 | beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.5 | be wealthy and Smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, America's Wealth Mentor, |
| 0:42.3 | Empowering Women and Men Worldwide to Financial Freedom. |
| 0:45.2 | On today's show, we're going to talk about 10 states where everyday Americans earn the most money. |
| 0:51.8 | And no, it's not in New York or California. |
| 0:55.0 | So this information comes to us from the Bureau of Labor Statistics, |
| 0:59.0 | and it's interesting to know who has the highest wages. |
| 1:02.0 | Now, the way that they calculate this is based on the median income. |
| 1:06.0 | So that means income where half the people earn more and half the people earn less. |
| 1:11.0 | So it's not an average, it's a median income and what's |
| 1:14.5 | really interesting is it's not really a state that's number one officially |
| 1:19.1 | officially what's number one is Washington DC people in Washington DC actually have the highest |
| 1:26.7 | median income in the country and that's 84,450 dollars but if we're looking at states, then the state that has the highest median annual |
| 1:36.8 | wage is actually Massachusetts, where the median income as of 2023 is $60,690. |
| 1:46.6 | Now people ask why should Massachusetts have a higher median income? |
| 1:51.0 | It has a lot of biotech companies and engineering hubs, which are well known industries |
| 1:55.6 | for high paying jobs. It has top colleges like Massachusetts Institute of Technology and |
| 2:01.8 | Harvard, which typically have high earners. |
... |
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