Quote:
Originally Posted by bcbgcbrcb
Thanks again for all of the input, guys. If I refrain from reinvesting any more money from sales back into cards, I need about $1,500/mth for basic living expenses (cost of living down here is much more reasonable than NJ, that’s why we came down here in 2015). So, if I sell about 5% of what I have each year for the next 7 years until SSI age, that gets me about the bare bones minimum to live on and still have around 65% of the collection to do as I wish with as I go along or hold long-term for the future. My plan would then be to hold on to the pre-war and 1950’s GOAT rookie cards to make up as much of that 65% as possible. Seems like this would be a much better direction to go.
As far as the disability situation, you guys are 100% correct. I realized the same early this year so hired a law firm down here in FL to represent me this fourth time around in applying. They advised me right away of the long-term process involved, likely around 3 years, so it will definitely be a long haul but I hope to get approved one day. At least that shortens my wait time to another 2-3 years to collect some kind of monthly income as opposed to 7 years with Social Secirity.
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By only selling 5 percent of your collection a year, you are assuming the ones you don't sell retain their value (or go up). This is where you got burned before. If as you have suggested the cards are your only or principal asset that will provide needed future income for a number of years, IMO it's much better to put them into a better investment vehicle that will provide a more reliable return. Nobody rational would have an investment portfolio consisting of only or mainly cards. PS just my personal opinion.