Mike’s Musings: How do our public servants amass their huge new worths?

I often wonder if I chose the wrong profession. Don’t get me wrong I love my work, but sometimes toiling 60 hours a week becomes kind of a drag at my age.
I should have run for election and become a member of Congress. Salary isn’t too bad at $174,000, but what is really enticing are the benefits. Free healthcare, free office allowance (huge benefit), free retirement benefits and on and on.
But what really attracts me is the amount of net worth career politicians amass. I don’t have a clue how they do it (I have my suspicions) but some of them walk into office with very little money and after 20 or 30 years they are worth tens of millions of dollars.
Remember their pay is $174,000 a year. Over 20 years, if they didn’t spend a dime on any household expenses, they would have $3.5 million. But we all know mortgages, groceries, car payments, kids, etc. can eat up most of that $174,000. Maybe we have some left over to invest in stocks but over 20 years that gain wouldn’t amount to over $1 million.
So what is the magic behind the phenomenal new worths of some career politicians? Our elected officials need to share with us ordinary people their keys to financial success.
For instance how does former Senate minority leader Mitch McConnell, who has been a public servant for more than half a century now have a net worth of $95 million? What is his side hustle? The guy can barely walk or talk, but man he knows how to make money.
His counterpart in the House of Representatives, Nancy Pelosi, again a career elected official, is said to be worth more than $200 million. Some say she has a keen eye for stocks that are about to explode. Others claim that key eye comes from insider trading. Whatever it may be she needs to share her secrets with her constituents.
And the list goes on and on. Chuck Schumer, Senate minority leader, is said to be worth $75 million; Sen Elizabeth Warren is worth over $50 million; and even champion of the people, Sen. Bernie Sanders has amassed a nice nest egg. All are career politicians, making that $174k a year.
It’s not a Democrat or Republican thing. All politicians that have been in office for a long time seem to retire with large nest eggs. If I were a cynical sort, I would possibly think they received millions from lobbyists and donors seeking favors from the politicians. But then I reverse course, and realize our public servants wouldn’t take money like that. Or would they?
One might also conclude the fortunes amassed by career public servants is a good reason to consider term limits seriously. As I have pointed out in the past, U.S. presidents, and state legislatures are limited in the number of years they can serve. Why should Congress be any different? Limit Senators to two terms or 12 years and limit House members to 4 terms or 8 years. That would eliminate career politicians and the fortunes they amass.