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LOL at my financial planner.

RonBurgundyRonBurgundy Posts: 5,491 ✭✭✭
in Trading Cards & Memorabilia Forum
I met with my financial planner the other day, and when we were going over my assets she says this when she saw my collection value: "I don't count stuff like this because it's something you'll never sell."

Huh? WTF is wrong with women and their inability to grasp cardboard? Is there a card gene that's mutated in them?

Yeah, lady, I just collect for the heck of it. May as well collect Beanie Babies.


Ron
Ron Burgundy

Buying Vintage, all sports.
Buying Woody Hayes, Les Horvath, Vic Janowicz, and Jesse Owens autographed items

Comments

  • BobaFett72BobaFett72 Posts: 7,304
    get an official appraisal (for insurance purposes) and shove it down her throat.
  • nam812nam812 Posts: 10,602 ✭✭✭✭✭


    << <i>get an official appraisal (for insurance purposes) and shove it down her throat. >>



    Why so violent Laraby?
  • lsutigers1973lsutigers1973 Posts: 11,093 ✭
    Seems like a good spot to add this comment. For those that do not know, along with being a Realtor, I am also a licensed insurance agent. Did you know that your home owners insurance only covers $2500 for your sportscard collection unless you add a specific endorsement?

    Back on topic, my wife would take offense to the mutated card gene. She loves busting wax with me especially the 80's baseball stuff. She gets PO'd if I buy a box or two and do not let her open some of them.
  • PoppaJPoppaJ Posts: 2,818 ✭
    Ron,

    That really hit home! image

    My ex-financial advisor (38 year old male know-it-all) sang me the same song about my Mantle collection.

    Then, I had him look up a 52 Topps Mantle in the 1st Beckett Issue from 1984 (I didn't even tell him how much the Beckett was worth now!).

    He saw that card #311 was listed as $1200 (low) to $1400 (high).

    I asked him to guess what the current market value is for a PSA 7 52 Topps Mantle .... he guessed $3500!

    When I said, try $30,000 to $35,000, he about crapped his pants!

    Anyway, if there is a mutating card gene, it certainly doesn't discriminate.

    PoppaJ

  • HighChopperHighChopper Posts: 1,091
    Yes, my financial planner ruled out my collection as well.

    Referred to it as an "exotic investment."

    Funny how it out performed anything he recommended.

    Needless to say, we've since parted ways.
    There's a hole in my head where the rain comes in.
  • markj111markj111 Posts: 2,921 ✭✭✭
    I agree with the planner-I will never sell my collection.
  • 1123581311235813 Posts: 610
    Ron,

    Hate to say it, but I would agree with your financial planner.

    Yes, sports cards are technically an asset, and a reasonably liquid one at that, but let's not kid ourselves. None of us would sell the core of our collections unless it was a dire emergency. What you might want to do is to go through your collection and seperate out the items you are willing to sell from those you are not. That's what I did with my financial planner. So while the overall value of my collection is probably around $50,000, we only consider about $20,000 of it to be a financial asset when we do our planning.

  • Stone193Stone193 Posts: 24,489 ✭✭✭✭✭
    I met with mine just the other day.

    He told me with my collection and other assets, I have enough money to last the rest of my life!

    Provided I die by next Oct 15!

    image
    Mike
  • TNTonPMSTNTonPMS Posts: 2,279 ✭✭
    Would ya hit it ?
  • bdunndchibdunndchi Posts: 650


    << <i>
    Back on topic, my wife would take offense to the mutated card gene. She loves busting wax with me especially the 80's baseball stuff. She gets PO'd if I buy a box or two and do not let her open some of them. >>



    Awesome wife!
    --->imageimageimageimage<---
  • TNTonPMSTNTonPMS Posts: 2,279 ✭✭
    "When I said, try $30,000 to $35,000, he about crapped his pants!"
    --------------------------------------------------------------------------------------
    You thought enough to break out the first Beckett issue,
    You should have thought to get him a diaper as well .

    Seeing those I would have crapped my pants as well .

    What do you keep the Beckett in as protection ?
    Do they make some kind of special slabs or anything like that .

    Did you make him was his hands first , what if he was eating Kentucky fried . . . you would have had to dig another one of them holes and you're all out of lime .

  • RonBurgundyRonBurgundy Posts: 5,491 ✭✭✭
    No I would not hit it and no she is not correct. With Burgundy, 99 percent of what I have has a price. Meet it and you can have it. It's an asset and it counts.
    Ron Burgundy

    Buying Vintage, all sports.
    Buying Woody Hayes, Les Horvath, Vic Janowicz, and Jesse Owens autographed items
  • AllenAllen Posts: 7,165 ✭✭✭
    Just like the guy in the Mr. Mint video, I am sure he knew his collection was worth a lot of money. Not sure why he decided to sell, but that was $80K in cash. My Great Uncle had a nice gun collection and he started to part it out and sell it off. He said he didn't want to leave his wife with the task of having to do it.

    I consider my collection an asset. Just like Ron said, everything has a price. If I had a collection of Diamonds or Rolex watches it is no different.
  • ripkenintheminorsripkenintheminors Posts: 2,186 ✭✭✭
    Did the advisor mean "something you'll never sell" in the sense that nobody would buy it or did the advisor mean it in the sense that you will never be willing to part with it? I know a lot of people that could make a lot of cash on a collection but they are never willing to part with it.

    It must be cool having a financial planner. Hopefully once the student loans are taken care of I'll be able to have one.
    -Chris

    image
    Ripken in the Minors * Ripken in the Minors Facebook Page
  • PoppaJPoppaJ Posts: 2,818 ✭


    << <i>"When I said, try $30,000 to $35,000, he about crapped his pants!"
    --------------------------------------------------------------------------------------
    You thought enough to break out the first Beckett issue,
    You should have thought to get him a diaper as well .

    Seeing those I would have crapped my pants as well .

    What do you keep the Beckett in as protection ?
    Do they make some kind of special slabs or anything like that .

    Did you make him was his hands first , what if he was eating Kentucky fried . . . you would have had to dig another one of them holes and you're all out of lime . >>



    Actually, I handled the Beckett. It's stored in a giant toploader and is displayed on a shelf in one of our "memorabilia" rooms.

    image
  • smallstockssmallstocks Posts: 1,702 ✭✭✭✭
    If you have a substantial collection, you need a financial planner who has one too. Hmmm, do I know one? image

    Late 60's and early to mid 70's non-sports
  • Carew29Carew29 Posts: 4,025 ✭✭

    My long time friend became a wheeler/dealer in the market years ago...the other day at our BBQ he asked me about my 401k/stocks---as he is "card" smart unlike some other finance guys---we took a trip to my bank and i showed him my 3 safety boxes...His response was "nevermind". That was just the ungraded stuff...He's already seen my closet (check that) bedroom of PSA cards. Not to mention my gun collection.
  • julen23julen23 Posts: 4,558 ✭✭
    i wish i had a financial planner...

    but u have to have money to do that.

    i need a cardboard planner.

    J
    image
    RIP GURU
  • leadoff4leadoff4 Posts: 2,392 ✭
    If the TSP(Thrift Savings Plan) keeps going down as it has been I'm going to keep buying more cards!
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