Where Did Former US President Jimmy Carter’s Savings Go?

Former US President Jimmy Carter, who died at 100 in Plains, Georgia, was amazingly modest and unassuming in a life of simplicity. Housed in a small, two-bedroom home appraised for $167,000—at just one-third of the country’s average house price in the United States—when he left office in 1981, Carter, unlike most former presidents, resisted high-style living. He shopped for groceries at discount stores and flew commercial, always prioritizing modesty over pomp.

As one of the cheapest former presidents for taxpayers, Carter and his wife, Rosalynn, lived a tightwad lifestyle. They eschewed corporate boards and speaking engagements with flair, dining on paper plates as often as not, The Washington Post reported. Modestly housed and modestly dressed, they were also known to be generous. “We give money, we don’t take it,” Carter told ‘The Los Angeles Times’ in 1989, a sentiment reflected in their philanthropy.

Although it is unclear exactly how much net worth Carter had, some of his income sources were a $221,400 presidential pension annually, allowances for travel and office space, and income from more than 30 books. His ‘Blood of Abraham: Insights into the Middle East’ in 1985 became a national bestseller, although most of his books did not have such commercial success as books from other presidents. Unlike his successors, Carter spurned high speaking fees, saying in 1989, “That’s not what I want out of life,” after Ronald Reagan accepted $2 million for a speech in Japan.

Other presidents, on the other hand, built quite a fortune after leaving office. Barack Obama and Michelle Obama received a $65 million book advance and bought multi-million-dollar properties, and Donald Trump’s Mar-a-Lago estate is worth hundreds of millions. But not Carter. He forwent federal retirement benefits and healthcare, as he didn’t have five years of employment under his belt since serving only one term.

Carter and his wife, throughout their lives, prioritized generosity and public service over personal wealth. Although he hadn’t publicly disclosed plans for his inheritance, his legacy of philanthropy speaks volumes about his values.