A Little Perspective
Jonathan Clements | November 20, 2018
TODAY WAS PAINFUL. How painful? Think of the financial losses:
- Homeowners who closed on their house sale might have lost as much as 6% of the proceeds to real-estate commissions.
- Car buyers who picked up their new vehicle probably gave up more than 10% of the purchase price just by driving off the dealership lot.
- Those who signed separation agreements with their soon-to-be-ex spouse likely surrendered 50%.
- Investors who bought load funds might have been nicked for 5.75%.
- Employees who got their paycheck were dunned 7.65% for payroll taxes, maybe 12% for federal income taxes and perhaps 3% for state income taxes.
- Those who then spent their paycheck might have lost another 5% to sales taxes. And if the money they spent was $100 in cash withdrawn from an out-of-network ATM, they could have lost another $3 to bank fees, or 3%.
Oh yeah, the S&P 500 also slipped 1.82%. Thank goodness for small losses.
Follow Jonathan on Twitter and on Facebook. His most recent articles include Simple Isn’t Easy, Fanning the Flames and Just Asking.
IS IT TIME TO STOP messing around with our portfolios—and go for radical simplicity? I’ve been asking myself that question in recent …
A NEW FIRM called Life + Liberty Indexes has created what it calls the Freedom 100 index of emerging markets stocks. Unlike …
WHEN SHOULD YOU claim Social Security? The optimum date for starting retirement benefits is the subject of much debate and analysis. For …