The all-American working man demeanor of Tim WalzāKamala Harrisās new running mateālooks like itās not just an act.
Financial disclosures show Tim Walz barely has any assets to his name. No stocks, bonds, or even property to call his own. Together with his wife, Gwen, his net worth is $330,000, according to aĀ reportĀ by theĀ Wall Street JournalĀ citing financial disclosures from 2019, the year after he became Minnesota governor.
With that kind of meager nest egg, he would be more or less in line with theĀ median figureĀ for Americans his age (heās 60), and even poorer than the average. One in 15 Americans is a millionaire, a recent UBS wealth reportĀ discovered.
Meanwhile, the gross annual income of Walz and his wife, Gwen, amounted to $166,719 before tax in 2022, according to their joint return filed that same year. Walz is even entitled to earn more than the $127,629Ā salary he receivesĀ as state governor, but he has elected not to receive the roughly $22,000 difference.
āWalz represents the stable middle class,ā tax lawyer Megan Gorman, who authored a book on the personal finances of U.S. presidents, told the paper.
Military retirement benefits and teachers pensions mean you donāt have to save a ridiculous 401k. Your average American wishes they had that freedom. Not a dig on Walz, just a dig on our retirement and healthcare system.
Yep. This.
All those pensions and lifetime benefits are worth a lot in financial planning and means you arenāt slaving as hard to build the large nest egg required to actually have a hope of retiring. They put their years of service in to get those benefits. Itās always amazing to me how much having those benefits in someoneās back pocket changes their perspective, itās a freedom that most Americans will never know.
Do they not count the present value of an annuity when calculating net worth? Seems like a major oversight.
Journalism is all but dead. 6 conglomerates own 95% of our media and now ājournalistsā P-hack whatever data fits the narrative they are told to push.
Journalism is printing what someone else does not want printed: everything else is public relations
The article isnāt even counting Vanceās real estate as part of his net worth so Iām not expecting them to be too thorough.
You forgot about his 12 years in congress.