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Step 7: Silent Partners

Figure 7-1

Taxes A later study84 by Bogle analyzed the returns and tax implications of the average equity investor vs. an investor in an S&P 500 Index Fund. Figure 7-2 details the end results for the 25 years from January 1, 1981 to December 31, 2005. The chart shows that $10,000 invested in the average managed equity fund would have grown to post-tax results of only $71,700.

Index Funds: The 12-Step Recovery Program for Active Investors  

This book reveals the potential land mines and pitfalls of active investing and educates readers on the benefits of passive investing with i...

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