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.
|
I’m going to come off as a huge dick but that’s OK.
Seems like you have roughly $400,000ish in cards based on the $1500/month 5% sell rate math.
If this is the case and you do not have any other way to survive financially for 7 years, you are not good managing your finances. Like at all.
Sell everything. Find a professional and get your future set up properly.
This is almost hard to believe because you’re saying you heavily invested in stuff that is now worth 25% of what you paid.
Either way, reinvesting in cards should not be an option.