The Minnesota governor and now Democratic vice presidential candidate isn't invested at all, uncommon for a politician at his level.
The Minnesota governor and now Democratic running mate of Vice President Kamala Harris doesn't hold a single stock. He owns no mutual funds, bonds, private equities, or other securities, according to his most recentfrom January. There’s not a complicated web of investments, trust funds or family business dealings, and the governor reported no consulting or speaking fees.
He’s fortunate, though. Pensions are a benefit few Americans have access to these days. In a traditional pension, employers contribute, invest and manage retirement funds for their workers, who then receive guaranteed monthly checks for life after they retire. And unlike millions of middle-class American families, the Walzes are not homeowners. The couple bought a home in Mankato, Minnesota, in 1997 for $145,000 and sold it in 2019 for 315,000, reportedly below the asking price. Presumably, that home would be worth far more today. The median sale price of a home in Mankato was $350,00 last month, up 12.
He'd be 64 — or even 68 — when he leaves the White House and would be stepping into what could be his highest-earning years. That’s quite a contrast to most 60-somethings who are more likely to be winding down their careers and sussing out how they'll live on what they've saved. And it works: In the past 20 years alone, the S&P 500 delivered annualized returns of 9.7%. So far this year, the S&P 500 is up 11.78% and up 20.34% from a year ago.
Retirement Plan Traditional Pension Usha Chilukuri Vance Vice President Kamala Harris Retirement Funds
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