I did some calcs the other day when I saw the Gaslight Media touting Timmy A-Walz's "common man" lack of stock and real estate investments.
article trying to show a meager walz living off a teachers pension , no assets, no investments, no business ventures, he’s just a regular guy like me and you.
I did a guesstimate of the annual retirement income of Tampax Timmy A-Walz and his wife:
$100,000 US House pension $ 60,000 Social Security $ 40,000 annual compounded interest [403(b) - 2 accounts] $ 40,000 gubernatorial pension $ 30,000 National Guard retirement pay ======== $270,000 total annually
Not bad scratch, if you can get it. $135 an hour, retired.
We won't even talk about their gold-plated Cadillac health care packages.
Plus, they sold their house and are living in a rental house [on the Minnesota taxpayer dime] while the Minnesota governor's mansion is being renovated.
The biggest tax ticks ever spotted in the wild...
This is just awful. Just awful. All of it.
Wasn’t he a teacher ? I think you missed the teacher pension
I believe your Army Retirement estimate (he is entitled to say US Army Retired) is probably about half your estimate. Reserve and NG retirement pay is based on points, basically one gets a point a day for a max of 365 a year (+1 for Leaps). Normal is 48 Drill points, 14 points Two week annual training, and 15 membership points. Basically 75 points a year. 24 years x 75 points = 1800. However, he earned more for Basic, Italy, and other active duty. To be generous, let’s say he retired with 3000 points.
7500 points about equates to 20 years active service allowing retirement at 50% base pay. So if he had 3000 points that would be 40% of 1/2 his base pay (E8 with 24 years which is about $7000 a month). So half of $7K is $3500, and 40% of that is $1400 a month. Times 12 is about $17,000 a year.
So $15000 a year is probably a very close estimate to what he is actually getting.