02 May 2020

Putting the Cost of the Pandemic into Perspective

In the US, household net worth is $118.4 trillion (and our annual GDP is $21.4 trillion).

If your net worth was $118,000 - let's say you had $68,000 in home equity and $50,000 in stocks and savings - would you dip into it for $2,000 to $10,000 (or take out loans of $2k to $10k) to cover sudden, serious medical expenses? 

Would you consider yourself destitute if you had to?

Estimates vary, but the coronavirus will cost us at least $2 trillion - perhaps more than $5 trillion. It's worth remembering that we have $118 trillion (and the credit score to borrow trillions more).

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