If you have a 401k, HSA, or other common financial accounts offered by employers, you most likely have money in the stock market. Usually it’s an indexed mutual fund of some kind.
I haven’t read the article, but usually when people like this don’t have any stocks, it’s to avoid a conflict of interest, but they do potentially own something like a whole market etf that’s being managed by a 3rd party. Something like XGRO
That varies though. Some really do have nothing.
Edit: And while it seems like in this case it’s true to the intent, technically, owning an ETF share isn’t owning a stock. You don’t own the underlying stocks with ETFs
If you have a 401k, HSA, or other common financial accounts offered by employers, you most likely have money in the stock market. Usually it’s an indexed mutual fund of some kind.
I haven’t read the article, but usually when people like this don’t have any stocks, it’s to avoid a conflict of interest, but they do potentially own something like a whole market etf that’s being managed by a 3rd party. Something like XGRO
That varies though. Some really do have nothing.
Edit: And while it seems like in this case it’s true to the intent, technically, owning an ETF share isn’t owning a stock. You don’t own the underlying stocks with ETFs
Yeah, I don’t own stocks. I just have a 401k and shares of VTI, VXUS, and VOO in my IRA and traditional brokerage. But I don’t own stocks!
To be honest though, I don’t see a problem (or at least as big of a problem) with politicians owning total market index funds.
Oh I totally agree with you on this. There’s no conflict of interest in that case so why not.