Just like the rest of us, high-profile individuals, including celebrities and politicians, are mere mortals with common financial concerns. Even America’s former first couple, Barack and Michelle Obama, are still in the process of settling their mortgage.
However, the Obamas differ from many Americans in substantial ways. They have significantly accumulated savings and cash reserves designed for their daughters’ university expenses and their own retirement.
What’s more, they’re slated to obtain a somewhat antiquated form of retirement income, a defined-benefit pension, a luxury many don’t have.
All these details are derived from their 2014 financial disclosure, made public recently.
For more information on this topic, you can head over to CNN Money.
Photo credit: John Althouse Cohen
