How to rake in $1 million per year during retirement …

Answer: Get elected President … and, you only need to serve one term (maybe less)

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Politico ran a story last week, alleging that Bill Clinton used taxpayer money to stake Hillary’s homebrew server.

Frankly, I found that revelation to be very uninteresting.

What caught my eye is the retirement package that Presidents get … more than $1 million per year for life in comp & benefits.

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Here’s the scoop …

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Reportedly, Harry Truman claimed to be barely scraping by once he left the White House.

Congress, decided that was beneath the dignity of the Presidency and, in 1958, passed the Former Presidents Act.

The FPA grants all former presidents a comfortable retirement package. Source

For openers, “each former President gets a taxable pension that is equal to the annual rate of basic pay for the head of an executive department (Executive Level I)” which is $205,700 for calendar year 2016.

Add to that:

  • Supplemental compensation …. $100,000
  • Office space … over $30,000 per month for Bush & Clinton
  • Personal benefits … $100,000 … think, Affordable Healthcare, presidential version
  • Secret Service protection … priceless (and charged elsewhere)

Total it up and it’s north of $1 million.

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You decide whether the package is reasonable or out-sized.

My view: it’s a lot for 8 years of service (at the max).

And, strikes me that means testing might be appropriate.

While raking $200,000 (or more) per speech, does Bill really need to hangout on the taxpayers’ expense?

Perhaps we should think about running in 2020 …

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#HomaFiles

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One Response to “How to rake in $1 million per year during retirement …”

  1. TTK Says:

    http://fortune.com/2016/07/26/marissa-mayers-verizon-yahoo-pay/

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