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Gov. Tim Walz doesn't own a single stock (www.axios.com)

submitted 3 months ago* (last edited 3 months ago) by willsenior@lemm.ee to c/politics@lemmy.world

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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).

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[+] Imgonnatrythis@sh.itjust.works -24 points 3 months ago

I don't either. I own hundreds! Ba dum bum.

I don't think hes dumb, so the other explanation is that he's wealthy enough that he doesn't need to play the game and can do this to make a statement. Sounds like a nice place to be frankly. For the rest of us, having any money left over at all for saving and saving it in a way that is not utilizing etfs or index funds is just letting a bank extract market profits off your money at your expense. If you're not playing in the rat race I hope you have a real dull axe to grind, because you are simply opting out of what the world basically expects your finances to do.

[-] bear@slrpnk.net 16 points 3 months ago

Actually most of us work for a living and don't have the luxury of having enough money for investments to be practical in the first place, but I guess you can pretend it's necessary to get by if it makes you feel better about it.

[-] Imgonnatrythis@sh.itjust.works 0 points 3 months ago

I make a median amount by working a lot. Median is median, "most of us" just mean you don't understand stats. Most people have some savings. I'm not swimming in any pool of gold coins, but anyone with any savings at all can put it in investments. 61%.of Americans invest in stocks. Mr. Walz chooses not to and does it to make a statement as a politician. He represents the minority by doing this,. Not the majority. I respect that, but he can afford to do that. I can't. If you're not investing at all because you are not able to save anything, I hope things turn around for you soon.. That would put you in the minority, not "most of us". If you have savings and are not investing it's either being foolish with money or having an agenda like Mr. Walz. That disuades you from doing so.

[-] bear@slrpnk.net 0 points 3 months ago* (last edited 3 months ago)

And of that 61%, only a third are directly investing. The rest get it as part of their compensation package for their work, which they can't benefit from without penalty until retirement. Additionally, it skews heavily by race. It's 66% of white families, but only 39% of black families and 28 percent of hispanic families. The amount invested follows similar trends.

https://www.pewresearch.org/short-reads/2024/03/06/a-booming-us-stock-market-doesnt-benefit-all-racial-and-ethnic-groups-equally/

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this post was submitted on 07 Aug 2024

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