Personal finances of Walz and Vance show stark differences
- Thread starter Sullivan
- Start date
I manage just fine on less than that.
Mrs. Walz also gets at least SSI and that adds to the household.
They fit in the top for retirees regardless.
I don't know that answer. I just know that my monthly IPERS income will continue as long as I live. I have a guaranteed monthly income for the rest of my life no matter if I end up collecting more than my employer and I contributed.
Oh god, stfu already.
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The annual amount of the pension is needed to calculate the total value-
There are a couple of ways to calculate
(annual pension/rate of return divisor) * percentage probability of pension being paid until death probability
Using the assumptions listed for the annual pension federal only, 10-year treasury (3.88 today rounded to 4) multiplied by 90%
(127000/4%)*90%= $2,875,500
Here is the calculation from Investopedia
P=PMT×r1−((1+r)n1)= $1,746,426.33 ( check my math but it is close)
where:
P=Present value of an annuity stream
PMT=Dollar amount of each annuity paymentr=
Interest rate (also known as discount rate)n=
Number of periods in which payments will be made
The value of every calculation I can find, including some calculators, is over 1 million, which is why I asked how you calculated it.
It’s not accurate. These numbers are from 2019, not today. He was 55. Not 60.
Yes. But some numpties feel they need to argue about it for 7 pages. And at 55, with a net worth around a million, I’d say he wasn’t doing too bad.
What a dumb argument.
I looked at this again and it seems like you are asking what the monthly benefit amount would be. IPERS monthly benefits aren't based on the amount you have contributed. Monthly benefits for teachers in Iowa are arrived at by the following formula:
Regular Members
Your IPERS retirement benefit is calculated using this formula:
YOUR AVERAGE SALARY is the average of your highest five years’ salaries. These don’t have to be the five years that immediately precede your retirement.
THE MULTIPLIER increases two percentage points each year you work in IPERS-covered employment up to year 30. From year 31 to 35, the multiplier increases one percentage point each year. The maximum multiplier is 65% at 35 years in covered employment.
At retirement, you may “purchase service” — or buy work time — to increase your multiplier.
A REDUCTION is applied if you retire before you reach a normal retirement age. IPERS will reduce your retirement benefit by 0.5% for each month (or 6% annually) that you receive retirement benefits before age 65.
It's amazing how well Vance has done due to his puppet master and foreigner former lover Peter Thiel.
Then why did you have the response you did about Walz not having money?
Frauds and felons are just dandy. Hard working Americans are not.
Define 'personal production'? He taught and influenced hundreds of kids when he could have chased many other careers with much less societal benefit, like your guys.
Waltz is an idiot, If it's true that he doesn't have any investments in stock or real estate.....
120k isn't an extraordinary amount of earnings, but plenty to invest. I'd like to think that he has some retirement IRAs or SOMETHING. I may not like some of his politics, but he seems like a smart guy and would have financial plans for retirement.
120k isn't an extraordinary amount of earnings, but plenty to invest. I'd like to think that he has some retirement IRAs or SOMETHING. I may not like some of his politics, but he seems like a smart guy and would have financial plans for retirement.
He has a pension and likely other savings. And I think you meant he’s “uncorruptable”:
Tim Walz has previously expressed in congress that he staunchly believes that owning stocks or making large investments as a politician leads to conflict of interest. He also sponsored STOCK act.https://porter.house.gov/uploadedfiles/stockact2.0summaryfinal.pdfhttps://www.congress.gov/bill/112th-congress/senate-bill/2038https://en.wikipedia.org/wiki/STOCK_Acthttps://www.congress.gov/bill/112th-congress/senate-bill/2038/all-actionshttps://www.c-span.org/video/?304020-1/senate-session
Notice how it's only the second tier numpties that are still getting pounded on this issue?
Seems to me you have judged Walz to be poor by your standards and you have portrayed a negative view of him throughout this thread. Who are you to judge someone else on what is success in life? @3boysmom pointed out earlier in this thread that Walz and his wife had to go the IVF route to have children, It’s very expensive, Maybe just maybe being able to have children made Walz and his wife feel far more successful in life than any dollar amount you place on success. True happiness in life isn’t measured in dollar amounts by everyone. Obviously it does seem to be your driving factor.
The whole thing about whose wallet is fatter is a waste of time IMO.
Talk about what you want to take out of my wallet.
Talk about what you want to take out of my wallet.
Sure, sure. Now that you and a bunch of your ilk have been shown to be woefully ignorant on this matter you want to change the subject.
Again, I'm sure you would like to change the subject to anything that takes the focus off of how ignorant you and your right wing buddies have been.
