Tim Walz presents himself like a relatable everyman, but the Minnesota governor's financial planning isn't something the average Joe should copy.

The running mate of Kamala Harris has raised eyebrows for his relatively modest net worth, and his failure to capitalize on a salary exceeding six figures.

Specifically, financial wizards are questioning Walz's decision to pull out $135,000 from his retirement to pay for his daughter's college education.

Tim Walz's financial gamble

More Americans are making early withdrawals from their retirement accounts out of financial desperation, but experts generally advise against it if possible.

For the average person, an early withdrawal from a retirement fund is a big financial risk. The withdrawn money gets taxed as income. For those below the age of 59 and a half, there is an additional 10% penalty for early withdrawals.

Walz, who is 60 years old, doesn't have to worry about the early withdrawal penalty. Still, Walz's withdrawal represents 10% of his roughly $1 million in retirement savings.

"The long-term consequences of that are going to be very painful," Anne Lester, a retirement expert, told the Daily Mail.

Experts also warn that Walz's retirement situation is atypical because most of his wealth comes from his government pension. Walz has spent his entire life working in the public sector, including a career as a high school teacher, U.S. Representative, national guardsman, and now governor.

Modest means not a virtue

With taxpayers subsidizing him, it's perhaps not surprising that Walz hasn't acquired a knack for financial planning. Indeed, financial experts are stunned that despite making a sizable household income of over $160,000, the Minnesota governor has no stocks or investments to speak of.

"He is the absolute opposite of Warren Buffett. It makes no [financial] sense," Eric Bond, an LA-based financial adviser, told the Mail. 'With a $166,000 income, I don't know what he's done with that money. The whole thing is quite odd."

"You need to plan. Where is his money going?"

Walz does not own a home, either. He and his wife sold their house in 2019 to move into the taxpayer-funded governor's mansion.

For a politician, Walz's means are admittedly modest. While Democrats may think that makes him more relatable, it can just as easily be seen as a negative: if Walz doesn't know how to manage money, how is he going to run the U.S. economy?