Americans who are mindful of building a nest egg now have a new ranking and a new top city to look to for security in their golden years. According to recently published research from personal finance information powerhouse Bankrate, the Houston metro area came out on top as the best place in the country for building household wealth. When the numbers were crunched, Houston led the pack of 18 large metros for its excellent job market, lowest consumer debt and high savable income. According to Claes Bell, Bankrate’s banking analyst, this inaugural version of the ranking used a wide variety of indicators to determine the best U.S. large metro for folks in their wealth-building years. That calculation, Bell points out, is not only a function of how much an income-earner makes, but how much they spend. That’s the point of the rankings, Bell said. “We want to create a conversation about how people build wealth -- we’re not just talking about the rich people who own Ferr...
- Houston ranked best in the U.S. for building personal nest egg, San Diego came in last.
- The rankings seek to start a conversation about wealth accumulation.
- The Bankrate rankings analyzed 18 large metros.