When I review a politician’s financial disclosures, it is typically pages and pages of mutual fund and ETF holdings in tax shelters such as IRAs and 401ks that total several million dollars. For example, the Financial Disclosure Report of my representative, Ann Wagner, contains 19 pages of investments that mostly consists of Vanguard and Fidelity ETFs and mutual funds that are spread out across a Fidelity Inherited IRA from her parents, a Fidelity IRA of her own creation, a Fidelity Roth IRA owned by her husband, a Fidelity Trust held jointly with her husband, a Missouri Most 529 Plan for her kids’ college education, some various life insurance policies, and a real-estate timeshare investment with her husband.
I point out Ann Wagner’s investment profile specifically because it provides a real-life snapshot of the typical net worth situation for an American politician.
In contrast, the Financial Disclosure Report of Alexandria Ocasio-Cortez … Read the rest of this article!