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Originally Posted by bcbgcbrcb
Thank you all for the advice thus far. So if I’m hearing correctly, the consensus is to continue selling off pretty much as I have been doing but don’t use those funds to buy back more cards to invest in. Glad I asked, that’s exactly what I’ve been doing all along. If I eliminate that part of it, will need to sell much less to survive. So, I guess the question then becomes, am I better off selling now all of those cards that I overpaid on back in 2021 and banking the money or holding on to them with the hopes that values come back one day closer to where they were when I bought them. I know, nobody has a crystal ball to know that, wish I did.
Either way, seems like the damage has already been done with no way to recoup those funds. Am I correct there? Just making better decisions going forward with investing the money elsewhere?
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I think it depends on how badly you need the money to get by. Or in other words, how tight are you financially? Do you need to sell everything and cash out at today's values just to barely squeak by? Or do you have some cushion - and if so, how much?
If you've got some cushion, then you have the flexibility to let some of these pieces ride and not sell now. Pick some that make your heart sing, and that you hope will rise between now and when you need that portion of the money later. Sell the rest.
If you're really tight, with really no room to spare, then I agree with the others that it's a better idea to just sell everything now and invest in some short-term, low risk assets, like a money market fund or some CDs. No sense in risking your ability to survive on the cardboard market, particularly if you're talking about a window of a few months or a few years.