This Place in Michigan Is THE Hot Zip Code For Young Millionaires
I had no idea.
Northern Michigan - and more specifically, Traverse City - is the #1 place to find millennial millionaires in the United States. According to MLive.com, California is the top state for them to live overall, with eight of the top ten zip codes around Silicon Valley. But Traverse City is the number one zip code. They must like wine and beaches.
This is from a report done on Millennial Millionaires as part of a survey called "A Look at Wealth", done by Coldwell Banker and WealthEngine. (Sounds like a good idea for realtors to know where everybody with money wants to live) They looked at individuals ages 23 to 37, with a net worth of over $1 million. 95% had a net worth of between 1 and 2.5 million. But they'll be getting richer, soon. Research shows that, by 2030, millennials, will, as a group, have five times the wealth they have now.
In something called the “The Great Wealth Transfer;” the millennial generation will inherit $68 TRILLION. So, you might want to hang on to that family cottage up there.
That's gonna be one BIG lake party.