Rubio cashed out retirement before presidential run
DENVER (AP) — Sen. Marco Rubio cashed out most of his retirement savings while preparing to launch his bid for the Republican presidential nomination, records released Friday show.
Rubio, 43, sold six retirement funds in September 2014 for $68,241.09, according to his personal financial disclosure statement. He made the sale even though he apparently had ample cash in the bank: He reported between $100,000 and $250,000 in a checking account and between $50,000 and $100,000 in a money market account at the end of 2014. And, so far in 2015, he estimates he has earned between $100,000 and $1 million from a new book.
The son of Cuban immigrants, Rubio formally launched his presidential bid last month with a speech recalling his humble upbringing and about how hard his father, a bartender, and mother, a housekeeper, worked to ensure he could have greater opportunities than they did.
For much of his political career, Rubio has struggled with debt. He paid off student loans only after becoming a U.S. senator in 2010 and writing an autobiography that paid him more than $1.1 million in royalties. His latest filings show he owes at least $450,000 on two mortgages and a home equity loan he took out in 2005.
Read more: http://www.chron.com/news/politics/article/Rubio-cashed-out-retirement-before-presidential-6267118.php
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