- His disclosures, both from his final year in Congress and his time as Minnesota governor, also show no mutual funds, bonds, private equities, or other securities.
- No book deals or speaking fees or crypto or racehorse interests.
- Not even real estate. The couple sold their Mankato, Minnesota, home after moving into the governor’s mansion, for below the $315k asking price).
Their only investment assets appear to be via state pensions, including teacher pensions.
He also retired from the Army, and likely has a pension from that too.
If I could retire without needing to know the difference between ETFs and mutual funds, I would be soooo happy
If you’re under 42 you can always grease the gears of war and join the military. Fat pension and great healthcare!
Pensions are still indexed to the stock market in a way, it’s just someone else who’s controlling it for you. And I guess there is meant to be an extra protection of “the government says this is your money, even if they bungle their investment.” How that works in the real world, I’m unsure. I imagine lots of days in court.
There are issues that come with pensions, all of which could be easily solved if the will was there. But it’s not, so they’re real issues unfortunately. See: Chris Christie fucking over NJ State Workers (https://www.nytimes.com/2015/06/10/nyregion/christie-wont-be-forced-to-make-pension-payments.html
Many (most? Not sure) government employees at the state or local level don’t receive pensions anymore
My dad did that. He was in the Navy, then went into the Army National Guard, and finished out in the Army Reserves. He retired an E-8, plus he retired as a civil engineer working at the local VA hospital, so he pulled two pensions like that. Buuuut, he and my step-mum were good with money and definitely invested. I don’t know all the details, but there were stocks and bonds. He would have loved Tim Walz. Sadly, he passed before Trump happened, but I know he would have hated him. Don’t worry, dad, we’ll protect democracy.
