Contrary to popular belief, the nation's largest cities are not home to the best savers, as A.G. Edwards' first ever "Nest Egg Index" reveals.
The Nest Egg Index ranks America's 200 largest metropolitan statistical areas (MSAs) and the 50 states based on residents' personal savings and investing behavior. The index shows that people in the eastern part of the United States are doing a better job of saving for retirement than those living west of the Mississippi. Southerners are far from where Northerners are in terms of being ready for retirement. San Jose, Calif., was in the top spot in the initial Nest Egg Index, barely edging out New York's Nassau and Suffolk Counties on Long Island.