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 And if the money they spent was $100 in cash withdrawn from an out-of-network ATM, they could have lost another $3 to bank fees, or 3%.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.
MY SISTER JUST HAD A BABY, our family’s first grandchild. That officially makes me a PANK: a Professional Aunt, No Kids. This …
MONEY WAS ALWAYS tight when I was growing up. When my brother was age 10 and I was 12, my parents boosted …
WE SPEND TOO much time thinking about what’ll make us happy. We’re always looking for the next high. This morning, we plan …