A record 58% of Americans owned stocks in 2022, according to the Federal Reserve.
Democratic vice presidential nominee Tim Walz was not one of them, his financial disclosures show.
In fact, Walz didn’t own many investments, based on what has been released. No stock, no bonds, no home or any other real estate. Instead, the former teacher and congressman’s assets consisted mostly of pensions, whole life insurance and college savings, a 2019 filing showed. He and his wife, Gwen, earned $166,719 before taxes in 2022.
Meanwhile, his Republican rival for the vice presidency, J.D. Vance, has a portfolio that includes stocks, real estate and cryptocurrency.
So what do financial advisers think about the two men’s investment strategies?
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“I think they (Vance and Walz) have different approaches, because they’re in different generations and they have different goals, most likely financially, at the stage of their life that they’re in now,” said Daniel Razvi, chief operating officer at retirement advisor Higher Ground Financial Group.
“J.D. Vance is still fairly early on in his career,” he said. “He’s still very young. He’s got a lot more trajectory upward as far as income and assets and so on. Tim Walz is getting close to a retirement-type age. It becomes very common to start thinking about, ‘How can I make sure I don’t run out of money?’ That’s usually the primary concern.”
Vance also has more money to invest, Razvi said….
