Are Members of Congress wealthy? Are you? Exactly what is wealthy?

♥️First, the most important story of the day. Happy Birthday 🎂 to my wonderful wife of 45 years. Love ya, Hon♥️ I’d tell you how old she is today, but I want to reach my next birthday as well. 😃

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Are Members of Congress wealthy? Some are, some not so much and some very average folks.

I guess “wealthy” is somewhat in the eye of the beholder. I read one source that concluded anyone with $100,000 invested is wealthy. To me that is not wealthy, especially for a middle age person.

After you read this, let’s have your comment. What amount of net worth makes you wealthy? How much in savings, excluding your home, do you need to be wealthy?

The following is taken from a June 13 article on bloomberg.com and is only selected excerpts. The broad ranges shown are the result of the way information is required to be reported.

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Democrat Nancy Pelosi is once again the wealthiest member of the leadership in the U.S. House of Representatives, according to financial-disclosure reports released today.

The House Democratic leader and her husband, Paul, have $42.4 million to $199.5 million in assets. The Pelosis disclosed $6.75 million to $31.5 million in liabilities against those assets. 👌

House Speaker John Boehner, an Ohio Republican, reported assets valued between $2.3 million and $6.7 million, an increase from 2012 when he reported holdings between $1.8 million and $5.4 million. He holds a pension from the state of Ohio valued at between $50,001 and $100,000.👍

Majority Leader Eric Cantor, who lost his primary election June 10 in Virginia, has a net worth of $6.2 million to $20 million. 👌

California Republican Kevin McCarthy, the leading candidate to take over the party’s No. 2 leadership spot in the House, reported between $76,000 and $266,000 in assets. The single liability for the former deli owner is a mortgage valued between $100,000 and $250,000 on his home in Bakersfield, California. The median value of McCarthy’s assets — $171,000 — has dropped from $299,500 since 2007, 👎

Republican Raul Labrador announced today that he’ll challenge McCarthy for majority leader. Outside of his home, Labrador has few assets. He has $5,000 to $75,000 in retirement accounts and up to $15,000 in a bank account. Labrador owes $45,000 to $150,000 in student loans and lines of credit. He also owes $265,000 to $550,000 on his home in Eagle, Idaho.👎

Peter Roskam of Illinois, the chief deputy whip, listed assets valued at almost $350,000 to $1.5 million, mostly from bonds and exchange-traded funds.👌

Steve Scalise of Louisiana, currently chairman of the Republican Study Committee, reported a negative net worth. He holds assets between $4,000 and $60,000, offset by mortgage debt. Scalise also reported a personal loan of $15,000 to $50,000 and a revolving charge account of $10,000 to $15,000.🙏

Some of these guys don’t seem to be able to manage debt and investments as well as average Americans. Labrador is 46, he better ramp up his retirement savings (or get re-elected several more times). Scalise has a lot of catching up to do. LOL