Quote:
Originally Posted by Peter_Spaeth
Mark, I think he spent what he took in on cards, because elsewhere he offers a computation on what percentage of his cards he will need to sell each year to generate the income he needs to live on. He doesn't mention having anything else put aside for that purpose, either cash or other investments.
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Right. So if he spent what he took in on cards (which he sold at the top of the market) and now sells them for maybe 50% what he paid, he's in decent shape. If your collection goes from $100 to $200 then you sell and re-buy stuff which you then have to sell at 50%, you end up with your $100 back. Roughly.
Then we are both suggesting he puts that dough into a conservative cash-based, interest bearing savings account.