President Barack Obama and his family appear to have gotten a bit wealthier over the past year, but they are taking few chances when it comes to investing their millions.
Obama and his wife, Michelle, had assets valued between $2.8 million and $11.8 million in 2010, according to their recently released financial disclosure report (.pdf file). That range was higher than what they reported for 2009, when their disclosure form reported assets between $2.3 million and $7.7 million.
(The Obamas are allowed to be somewhat vague about their financial situation, hence the wide range in values.)
The bulk of the Obamas' wealth is invested in about the most conservative way possible, helping to fund the ballooning federal debt by buying Treasury securities, which currently pay from about 0.25 percent annually for short-term bills to a bit over 3 percent for 10-year notes.
The couple has between $1.1 million and $5.25 million invested in Treasury bills. An additional $1 million to $5 million is held in Treasury notes.
Other highlights:
- The president had between $250,001 and $500,000 in his JPMorgan Chase checking account.
- The Obamas aren't playing it crazy when it comes to stocks — between $200,000 and $450,000 is invested in the Vanguard 500 Index Fund.
- Royalties from the president's two books — "Dreams from My Father" and "The Audacity of Hope" — totaled between $1 million and $5 million last year. In comparison, his annual salary is $400,000.
- The couple's children will have a well-funded education. Between $100,000 and $250,000 is invested in a 529 plan for daughters Sasha and Malia.