How Much Money Do You Need to Live Like a Millionaire in MN?

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If you want to live like a millionaire here in Minnesota, you're going to need way more than just a million dollars!

If you're like me, when someone says you're a 'millionaire,' it still conjures up visions of that old-school guy from the game, Monopoly. Or maybe living in a big mansion you might have seen in an old-school episode of MTV's 'Cribs'.

But these days, in order to consider yourself a millionaire here in the Land of 10,000 Lakes, you'll need to have way more than just a little 'ol million dollars in your bank account. That's the word, anyway, from a new survey by online gaming site Solitaired.com.

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The Solitaired.com crew just asked 4,859 people how much money the average American would need to live a millionaire lifestyle. And the results were very interesting-- if not a little depressing. The survey said that "the average Minnesotans said they would need to own $4,686,047 worth of assets in order to achieve millionaire financial status in their own eyes."

So in order to be a 'millionaire,' you actually need over FOUR-AND-HALF million dollars if you're still going to live here in the North Star State! (I'd better get working on a side hustle...)

While that IS a lot of money (you can tell I'm definitely NOT a millionaire), it's less than the national average of $5,474,032 that everyday Americans said you'd need to live a millionaire lifestyle.

Now over in my home state of Wisconsin, you need even MORE money to live the millionaire lifestyle. The survey noted that Wisconsinites said you'll need $4,993,976 in the bank to live like a millionaire in America's Dairyland.

And you'll need even MORE money than that if you want to be a millionaire down in Iowa. The survey said the magic number in the Hawkeye state is a whopping $5,231,343!

You can check all the results of the survey below. Plus, keep scrolling to check out a list of folks who could probably already call themselves millionaires-- because they're the richest people in Minnesota!

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The Richest People In Minnesota

Below you'll see the richest people in the state of Minnesota. The list from Money Inc includes two sisters, a group of brothers, entrepreneurs, sports team owners and more.

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Based on data from Neighborhood Scout, we were able to figure out Rochester's richest neighborhood, which is 40th St SW / Bamber Valley Rd SW. After a search on Zillow, I found plenty of expensive homes for sale in that area. Full disclosure, this home we're going to look at isn't technically the most expensive, it's the third most expensive. However, it's the most expensive home in the neighborhood that's currently standing, the other two haven't even been built yet.

Source: How Much Money Do You Need to Live Like a Millionaire in Minnesota?

Filed Under: Minnesota, money

Categories: Lifestyle