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United States Vice President Kamala Harris and her husband, Doug · Emhoff, have been described as conservative in their investment style, with a high political profile but a low-key private life in their daily lives.
Its approach to managing money is also very low-key, and its conservative financial management style is said to be due to the fact that Harris's sister hinted to her that Harris's taxes during the 2020 election were quite high.
Why is income so low?
The salaries of the Harris couple are not unlikely, after all, Harris is the current vice president, and Emhoff is a professor at Georgetown University, although he no longer shines in politics, but he is also influential as a family member of the vice president.
Despite this, the Harris couple's income in 2022 is only about $500,000, an increase of $5,000 year-on-year, which sounds very low-key.
In 2023, in their financial disclosures to the Federal Election Commission, they reported a total income of $450299 for 2023.
Harris receives the largest share of the vice president's salary, while Emhoff earns one-third as a professor.
It is worth noting that the Harris couple's financial report does not list a specific source of income, resulting in a situation where the source of income is unknown.
Harris, the economic pillar of the vice president, and Professor Emhoff would make the public wonder what exactly is the "source of money" that Emhoff refers to.
This incident aroused the curiosity of the public.
Despite this, the public is still satisfied with the couple's income situation in 2022, as they still earn quite a decent amount even in government jobs.
Moreover, Harris and Emhoff's net worth should be between $3.6 million and $7.36 million.
It seems that both Harris and Emhoff are grateful for the wealth of this marriage, and they don't need to worry about the wealth that will cause stress on their marriage.
On the contrary, the properties they mention are the result of their joint efforts, showing a positive attitude.
The property is also low-key?
Located in Washington, D.C., as the residence of the United States Vice President, the official residence of the United States Vice President has a rich history, dating back to that period in 1974.
The residence replaces the homes previously occupied by the vice presidents in the residential area west of the Capitol and is the first official residence built specifically for the United States vice president.
This Washington, D.C. mansion opened to the public in 1971, which was a pleasant surprise.
By 1974, there was a support team for housekeeping and the media, and after many renovations and expansions, the sprawling mansion now has won a high level of acclaim.
It is worth noting that the mansion has also been visited by many celebrity visitors, but now few people know about it, and it is indeed a very "mysterious" place.
It's not surprising that Harris and Emhoff didn't include it in their asset list this time.
Like previous vice presidents, they knew that this luxurious residence carried a "burden", the symbol of the vice-presidential position, and that everything here would be noticed and admired as the place where the deputy head of state lived.
However, the Washington, D.C. mansion was not bought by Harris and Emhoff's money, but was the result of the vice presidentship.
Other properties, however, are the couple's own choice.
Harris and Emhoff, who lived together in Los Angeles, Calif., recently disclosed to the public a list of the properties they once lived in.
In 2022, the couple reported tax issues on their annual income at a property in Los Angeles, but they didn't make the report public.
Although the local luxury housing market in Los Angeles is extremely competitive, it was enough to surprise people when the Los Angeles house was sold by them for $1.3 million.
After all, although the house was bought for $1.19 million in 2012, it has now increased in value by nearly $110,000.
In addition, outside of California, Harris and Emhoff also have a property in Alexandria valued at about $10 million, which is also on the estate list.
However, as vice president, their property in Los Angeles was eventually sold to another celebrity, and every brick here has gone through many stories.
However, Harris and Emhoff also rented an apartment near a Los Angeles residence, which was rented for $5,000 a month, which was not fancy because the two were actually beneficiaries of the vice presidential presidency.
Conservative financial style?
In Harris and Emhoff's financial disclosures, they had stated: "We have not purchased any assets that are significantly controversial."
In the course of Emhoff's analysis of investments, one will find that their portfolio allocation is quite conservative.
Harris and Emhoff invested about half of their wealth in stocks, a third in cash, and the remainder in bonds.
Since Emhoff and Harris did not invest until March 2020, their retirement assets and bank account balances are about high, but this is because Emhoff is in better financial shape.
In 2022, Harris and Emhoff had a net worth of between $3.63 million and $7.36 million, earning a total income of $501728, while Emhoff earned a total of $476,000 in 2021.
Obviously, even though they don't have a very high income like other candidates, it's enough to sustain their day-to-day expenses.
However, it is curious why Emhoff no longer has a fee for VIP services from 2022?
In the eyes of the public, their investments are very "boring", which is reflected in the fact that the Harris did not violate any laws in their report, but undoubtedly lost a lot of potential income.
In a report on retirement accounts, Emhoff's IRA (Individual Retirement Account) can only be invested in government bonds and money markets.
If the average retirement savings of people aged 55 to 64 in the United States are considered a baseline, then the final amount of Harris and Emhoff's retirement savings can be considered relatively high.
In 2023, Harris and Emhoff report that their retirement savings are around $920,000.
Moreover, Harris and Emhoff also have combined bank balances of more than $2 million, which is much higher than the bank balances of election officials in Jersey and Georgia.
This is very surprising, because in 2022, both of their assets are running in a "stable" state.
In fact, out of an abundance of caution, Emhoff's claims for bank deposits and retirement savings are somewhat overstated.
However, they are cautious about controversial investments compared to other candidates.
In stark contrast, Vance, who holds bitcoin and does not want to be mentioned by name, makes people even more curious.
epilogue
To sum up, Harris and Emhoff's investment style can be described as steady, and they seem to be more focused on risk avoidance than pursuit of high returns.
Still, this conservative investment style also reflects their desire to foster an image of responsibility and stability in order to enhance the public's trust in them.
In the current economic environment, the Harris' conservative investing may help them cope with market volatility and uncertainty to some extent, after all, risk and return are often proportional.
However, in the future, they may adjust their investment strategies in line with emerging market and technology industry trends, adding more diversity and opportunities to their portfolios.
The Harris' financial disclosures sparked public curiosity and served as a reference for other politicians, demonstrating how transparency and robustness can be maintained in public roles.
At the same time, in today's society, financial transparency is increasingly becoming a principle that political candidates should follow, as voters expect their integrity and moral standards, which is also a social progress.
As a result, there may be a trend in the future where political candidates tend to be transparent about their finances to ensure voter recognition and support for their integrity.