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AOC says she's worth less than $500,000 after kickback claims — and seems to get kudos from Trump fans in response
(www.businessinsider.com)
this post was submitted on 06 Feb 2025
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Jesus, people need to learn to read a damn article.
And no it's not that unusual for ordinary people to have 500k net worth. Buy a house, put in a few percent in your 401k in index funds, and there you go.
Uhm, it's her own damn words (from the article):
https://twitter.com/AOC/status/1887197530573717552
She specifically decided to say "less than half million" which sounded a lot to me.
Sigh...
Even when putting up literally text and numbers, you can't read or math.
Alright let's break it down.
45,000 savings + 125000 government 401k = 170,000
Now let's compare numbers here. 500,000 is a bigger number than 170,000
So what she said, given our known facts and assumptions, what she said is absolutely true. She's not with half a million, she's worth 170,000 USD and a 125,000 of that isn't even really available to her because it's a retirement savings account.
For fucks sake, she's wasn't saying she had 500,000 dollars in cash on her. She was being ever so slightly hyperbolic to make a point that she's not rich.
Cripes, reading is so fundamental.
I don't know if you get that I'm reacting to what she said. Saying she isn't worth "even" half a million sounded a lot to me since I didn't realize the average was so high in the US. It sounded high for saying you're not worth "even" that. Idk if you get what I mean.
But really you're getting bent out of shape over something very unnecessary. I suggest calming down.
RTFA.
How does "I'm not even worth half a million" mean "I have hundreds of thousands of dollars in the bank" to people. I don't get it.
If you have a retirement account and a home, you're probably worth more than that anyway.
Who said it does? You're confusing me here
The name Kusimulkku is very much Finnish (it means peehole). Houses don't all cost half a million dollars there and retirement is funded through taxation. 500k net worth in Finland is comparable to being a millionaire in the US I would say. You would probably have 6 digits in your bank account OR own majority of a small company if you're worth 500k.
A lot of people also don't count their only residence as part of their net worth as it's their home, not an investment vehicle and definitely not liquid. Things change when you can afford multiple properties, but you aren't going to sell your only home just because it has appreciated - everything else has likely also gone up then.
Just saying, his perspective coule be very different from yours. I know this because I'm Estonian and 500k to me sounds like a pretty high net worth.
I suppose we could be cheeky, take Solidium - the Finnish sovereign wealth fund - and amortize assets across the population as "collective wealth". But holding individuals with 401ks to account for being "rich" because they're doing the only legally expedient form of retirement savings is absurd, I agree.
I think my point is more along the lines of "I don't even have half a million dollars" doesn't imply to me that they have half a million dollars.
Hmm to me it implies it's close though. Maybe 300k, maybe 400k. At her age it would be an impressive where I come from.
Cripes read, she has 170k total.
I think if she anchored it different, I might think like you. But "I don't have a million; not half a million either" doesn't imply to me it's close. Maybe like 100k. But saying that she said she's worth so much and quoting her saying "I'm not even worth X" as the proof is nonsense. Especially in response to someone with quotes from the article stating that it's like $125k.