When former president Jimmy Carter left office, his peanut business was $1 million in debt. (via CNBCMakeIt)
Former president Jimmy Carter returns to his hometown of Plains, Georgia after his term as president endedWhen President Jimmy Carter left the White House in 1981, he was 56 years old and deep in debt.
His peanut business, which sold certified seed peanuts and other farm supplies, was $1 million in the red by the time he finished his term,. Carter had been managing the family-owned peanut farm, warehouse and store in Plains, Georgia, since his dad died in 1953, but when he became president, he put it into a blind trust to avoid conflicts of interest.
When he left office in debt, "we thought we were going to lose everything," Carter's wife Rosalynn told the Post. Forced to sell the company, Carter started writing books to generate income. Today, the 94-year-old has published more than 30, from a children's book to reflections on his presidency. As a former president, he also receives an annual pension of about $210,000 and an allowance for things like travel, office space and other expenses. In 2017, Carter got more than $230,000 in such allowances, the National Taxpayers Union Foundation
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