Economy

TOP ASSETS 2017 House - Rental Room/House - Rental Room $375,000

MN State Retirement System/MN Retirement assn $107,501

https://www.opensecrets.org/personal-finances/tim-walz/net-worth?cid=N00027467

Tim Walz pulled $135,000 from his retirement savings last year to pay for his daughter’s college education. That would be a devastating blow to many Americans’ nest eggs—but not his.

The 60-year-old vice presidential candidate’s pensions make him a throwback to a bygone era of American retirement savings. Even though he has fewer assets and investments than Republican rival JD Vance and many candidates for national office, his net worth doesn’t reflect the full value those pensions provide.

It would likely take a 401(k) balance of about $1 million to buy an immediate annuity that could generate income similar to the couple’s pensions, according to annuity calculators. His campaign confirmed Walz’s withdrawal from a 401(k)-type plan, but declined to comment on his finances.

“He has a good retirement fund. It’s not luxurious, but it’s designed for someone who has been a public servant for most of his life,” said Richard Painter, a professor at the University of Minnesota Law School who was head of the White House ethics office under President George W. Bush.

Pensions like the ones Walz accumulated as a teacher, soldier and elected official, aren’t an option for most Americans. In March 2023, 15% of the private sector workforce had access to a pension plan, versus 86% of state and local government workers, according to the U.S. Bureau of Labor Statistics.

https://www.msn.com/en-us/money/other/tim-walz-is-richer-than-his-net-worth-suggests/ar-AA1pfnh8

regardless of how the paid off media puts it Tim Walz is not like us and our neighbors who are struggling under high inflation including high taxes with paychecks that are not living wages with no healthcare

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 a report by the Wall Street Journal 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 the median figure for Americans his age (he’s 60), and even poorer than the average. One in 15 Americans is a millionaire, a recent UBS wealth report discovered.

Read more: Tim Walz’s leadership resonates with my country’s Viking Code. Here’s why that matters

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 $127,629 salary he receives as state governor, but he has elected not to receive the roughly $22,000 difference.

“Walz represents the stable middle class,” tax lawyer Megan Gorman, who authored a book on the personal finances of U.S. presidents, told the paper.

he is worth $330,000 and he makes combined with his wife $166,719

that is way more than most people know such as the skilled plumbers know who make $13 an hour for a skilled trades job

Walz USED to be the average middle class US citizen but sadly the US has either poor or rich with the middle class gutted to almost extinction

teachers are not even making a third of Walz's worth in this country

fuck Walz, fuck Harris, and fuck Trump and fuck their donors for taking over our country