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Woah, not even any mutual or index funds. Just relying on pensions for retirement.
Surprised that he wouldn't have some sort of personal investments. Keeping everything in cash/CDs isn't a great personal finance strategy.
Maybe not the best strategy for personal financial gain but great for avoiding conflict of interest in politics.
Blind trusts exist for this exact reason.
Also, no real estate. He sold his house when he moved into the governor’s mansion and even sold it below its $315k list price. What a guy!
Fox headline "Homeless VP relies on Public Housing"
Maybe it’s an integrity thing? Maybe he felt like having a financial interest in different companies might bias him in an unethical way?
I feel like Index funds kinda removes that aspect.
It's probably as close as you can get when investing. That's what Harris does. Still, no investments definitely eliminates any doubt.
Index funds are often heavily weighted to certain companies though.
The most popular index funds are weighted by market cap: the bigger the company, the more stock in it the fund holds. Or in other words, the holdings are sort of "normalized" with respect to the fraction of the total market each company represents, such that the performance of the fund matches the performance of the market.
There's no real agenda there.
(There are other sorts of index funds, such as "equal weight" funds that invest the same amount in every company in the index, but if you think about it, that's weird because it's basically skewing its investing to the smallest companies.)
cough
blackrock
cough
Military retirement + (if applicable) military disability + civil service career is a solid source of income.
Sure but if you don't spend all of the cash when you get your paycheck then it needs to sit somewhere
Ever heard of a savings account? Or a 401k?
401ks get invested in stocks (or at least mutual funds, which Walz apparently doesn't have).