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