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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
They need to fucking run with this in their programming. It's such a powerful contrast to billion dollar baby and Peter Thiel's plaything. He is demonstrably not in it for the money. He's just a guy, trying to improve people's lives and that's it.
They’ll spin it that he’s so poor that he is incompetent or just going for VP for the paycheck will “billionaire” Trump is a good business man and doesn’t need the paycheck at all. But it will probably backfire cuz that just makes Walz relatable AF, especially to younger or more rural voters.
Military retirement benefits and teachers pensions mean you don't 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 aren’t 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. It’s always amazing to me how much having those benefits in someone’s back pocket changes their perspective, it’s a freedom that most Americans will never know.
I'm sorry, 1 in 15 Americans is a millionaire?? Holy shit.
In California, that's buying a house 25 years ago and not refinancing it and blowing the cash on something stupid.
Regional cost of living, and the inflation around it, really skews those numbers. A million in San Francisco or Manhattan is very different than a million in the middle of the country. Housing and pay are a lot higher in the major metros.
I’d love to see what these numbers look like when adjusted for CoL.
1:15 has a net worth of a million. That includes all possessions, pensions, etc.
Treasure a retiree with a house that's worth a couple hundred grand, throw in their 401k, vehicles, etc and it adds up.
Look at it this way: my car is probably worth about 20 grand, but that doesn't mean I have that much cash. Ask me to cough up an unexpected $500 and it's gonna hurt.
At that age yes. It's the only way a relatively high earner can maintain a similar income out of retirement and they also tend to own their homes.
Oddly enough very easy to accomplish with property and retirement accounts. Doesn't apply (and probably won't apply) to most genx, millennials or gen z, as Boomers shit the pool.
My father is quite proud that as he nears retirement, he's scrounged and saved enough to break into the millionaire's club! He also voted Republican for his entire life, and now I probably won't ever be able to retire, so thanks a lot dad! (This is also one of many reasons they aren't ever getting grandkids.)
TIL my net worth is higher than that of a candidate for the vice-presidency.
If a poor American with no resources condemns our rigged, crony market capitalist economy, "they should stop complaining because they're just bitter."
If a rich American with resources condemns our rigged, crony market capitalist economy, "they should stop complaining or they're a hypocrite."
Our oligarchs like the casino they've made just fine. Either compliment their work or you're "free" to shut the hell up and get back to making them money. Of course this will be used against Walz for being a bad capitalist. As if how hard one capitalisms(exploits others) should be celebrated.
It just speaks to our backwards, inhuman, literally cancerous primary cultural value of greed first and only.
1 in 15 Americans is a millionaire?
Presses X to doubt
Dual income homeowners with healthy retirement funds. The fucked up thing is 1 million dollars isn't that impressive anymore -- you can easily spend that in retirement living a middle class lifestyle in the USA. Particularly when you factor in age related medical expenses and elder care.
It's not like our retirement, healthcare, and elder care systems are catastrophically broken or anything.
Anyone who owns a detached home within 50 miles of an ocean is already at least 3/4 of the way there. Not surprising.
A millionaire doesn’t mean “Has $1 million in cash sitting in a checking account”. It just means your networth is at least $1 million. So like if you bought a shitty rundown starter home you’re half way there. A 401k you can touch for another 20-30 years could get you the rest of the way.
This kinda checks out. I know more than 15 people, and I know a few millionaires. You probably do too, just it's usually their wealth is in the form of a house.
There are some places where all you have to do to become a millionaire (at least on paper) is to live long enough in one place to pay off the mortgage.
Exploding property process will do that.
Average houses in most cities are at or over 1 million easy.
For once a guy when the average voter says ‘they’re just like me!’ It’s actually true.
One in 15 Americans is a millionaire, a recent UBS wealth report discovered.
That's why America doesn't have healthcare?
The argument I've heard from my parents is why should I pay for public healthcare when I can afford my own private healthcare.
Which is so incredibly tone deaf
I know a lot of people, I'm inclined to believe the "1 in 15" thing is flagrantly untrue or working off of leveraged assets.
I'm guessing that is based on savings + asset value (house and car) + retirement funds + individual stock investments.
1 in 15 people with a half million dollar house and a half million dollar 401k? That's what? 25 million Americans? There's over 100 million people in the US over the age of 50. Seems pretty reasonable for 1 in 4 in that age range to have own their house and have a nice retirement fund.
I think that figure is because of people in NYC, LA, San Francisco, Chicago, et cetera, where they are absolutely not, like, independently wealthy or anything, but are technically millionaires because rent is 35 thousand dollars a week for 3 square foot apartment with no pets, no windows, and a communal bathroom where the landlord spits in your mouth instead of providing a sink.
Got off the rails there at the end. Rent prices are pissing me off lately. Point remains largely unchanged, though. Lol
Do you think you know an unbiased sample of people?
I can’t wait for him to get his first book deal for millions and watch republicans suddenly care how much money a politician has.
Yeah, but he does have that baby blue 1979 International Harvester Scout. That thing is a collector's item.
The average net worth is skewed by a rich minority and WAY richer super minority. Let's see the median.
It literally says in the post that his net worth is roughly equal to the median.
I get irritated to an irrationally high degree when someone literally only reads the headline and decides right then what their opinion is and that it needs to be shared with the world. Like they wouldn't even have had to check out the link, it's right in the post.
The median is linked right in the article.
For ages 55-64 it's $364,500
Let’s see the median.
The average American family has a $1.063 million net worth, according to Federal Reserve data. But the median net worth is $192,900.Jul 23, 2024
Y'all have positive net worths?