Quote:
Originally Posted by rats60
Paying 28% to the feds + state tax to invest in the stock market and lose 20% doesn't seem like a smart move. If you are using the money for something useful, like a down payment on a house, then I can see liquidating. Selling just because the market is strong with no real plan isn't very smart.
|
There was a fairly long thread a few months ago where members in the pumper wing of the hobby were advising other members to do this or speaking positively about doing it, to drain their retirement accounts to invest in cards well after the peak. It was then followed by another thread where the pumpers also encouraged the taking out of loans to pay for cards that people couldn’t afford, and then getting upset at people who laughed at or questioned the reasonableness of this surely impartial advice.
The first paragraph of my post is a joke about the pumpers on the board who have been advocating people to do absolutely stupid things and promoting the narrative that cards won’t go down, because dumping more money than they have into cards would be good for the portfolios of the people advising this. Pretty slimy.
To be very clear, I would never sincerely advise anyone to do anything remotely like this. I am also not advising people to sell cards and put it into stocks. Mine will be remaining with me until my death, at which point who knows where they go.