Even more interestingly, Walz told the Journal that he made a roughly $135,000 early withdrawal from a workplace retirement account last year to fund his daughter's college education. Walz is in an unusual situationFor Walz, $135,000 represents a relatively small chunk of what he can expect to earn in retirement. The Wall Street Journal estimates the Walzes' retirement savings at more than $1 million, meaning that the early withdrawal likely represented somewhere in the neighborhood of 10% of the retirement fund. Of Walz and his wife's roughly $300,000 in 2023 income, about $135,000 came from pensions or annuities. But it's especially dangerous for the majority of Americans who will have to rely heavily on their investments to fund their retirement.

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Persons: Tim Walz, Walz, Gwen, J.D, Vance, It's, Gerika Espinosa, —, Jamie Bosse, Bosse Organizations: Wall Street, Republican, Street, CGN Advisors, Social Security Locations: Minnesota, Salt Lake City , Utah, Manhattan Kansas