CT’s millionaire census dwindles

Sister, can you spare a million bucks?

The number of U.S. millionaires has fallen 14 percent the past two years and Connecticut's dwindling crop of seven-figure households account for some of the loss, according to the Phoenix Affluent Market wealth survey.

This year, Connecticut's 6.2 percent of all state households worth $1 million or more ranks behind Hawaii (6.4 percent); Maryland (6.3 percent); and New Jersey (6.2 percent). New Jersey wins out by virtue of its 198,000 million-dollar-plus households vs. 83,000 in Connecticut.

Massachusetts is sixth, with a per-capita millionaire tally of 5.4 percent.

Phoenix Affluent Market, based in Rhinebeck, N.Y., is not affiliated with Hartford-based Phoenix Cos.

In 2006, Connecticut again ranked fourth behind Hawaii, Maryland and New Jersey, counting 84,500 millionaires for a per-capita ratio of 6.2 percent, the survey found.

A year later, the state's millionaire count peaked at 95,000 and 7 percent per capita, putting it third behind New Jersey and Maryland, but ahead of Hawaii.

In 2008, Connecticut fell back to fourth, with 92,000 millionaires and a 6.8 percent per capita tally.

Millionaires in other states also haven't fared well, The Phoenix said.

"While the top states in millionaire percentages were little changed from the previous year, overall, the market downturn has taken its toll on the ranks of millionaires in most states," said David Thompson, managing director of Phoenix Affluent Market.

Phoenix estimates there are 5.1 million households in the U.S. that qualify as millionaires, down from nearly six million two years ago.