Wealth Building System

Supreme Court justice-to-be Elena Kagan is a millionaire.  The fifty year-old single woman and former dean of the Harvard Law School is reportedly worth over $1.75 million.

Financial statements provided by the Senate Judiciary Committee show that most of Kagan’s assets are in bank accounts and retirement funds.  Most remarkably, despite being educated at some of the most expensive institutions in America and England, Elena Kagan has no debt.  While growing up in New York City, Kagan was fortune to have a financially sound family who generously supported her education.

Kagan has spent almost her entire working life at academic institutions.  As dean of the Harvard Law School, Kagan earned an annual salary of $437,299 from 2003 to 2009.  From March 2005 until December 2008, Kagan received an annual stipend of $10,000 to serve on the advisory council for the brokerage firm Goldman Sachs.

Kagan has made modest profits in real estate.  In October 2009, Kagan sold her condominium in Cambridge, Massachusetts for $1.53 million, netting a profit of about $130,000.  Kagan owned her condominium for about nine years.  Currently, Kagan denies investments in stocks, property, cars, or real estate.

Kagan does, however, claim ownership of $198,532 in U.S. government securities and $824,204 in a retirement fund.  Kagan has retirement plans sponsored by the University of Chicago and Harvard University.  Her retirement investments are primarily among Fidelity and Vanguard.  Kagan has also hedged her portfolio with a cash position amounting to $739,783. Kagan has managed her account very conservatively in a manner very similar to other famous and rich celebrities.

Most impressively, the Supreme Court nominee has no debt or financial liability of any type.  Elena Kagan’s money secrets are a reflection of conservative financial management and averison of risk.

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