Taking money out of retirement funds to purchase cards

[Johnny630]

Originally Posted by G1911

Anyone can do what they want. My biggest issue is that the pumpers aren't doing what they advocate though.

Stocks are down ~20% this year. Cards are too, from their Covid highs. Some cards are not, just as some stocks are not. Not a single financial advisor will advise clients to close their 401K's and IRAs and put the money, after they lose a ton of it to the Feds, into baseball cards. There is not a single person who doesn't stand to make a huge profit if people were dumb enough to do this by already being heavily invested in cards that will advise it.

It's just self-serving pumping BS. If you believe going all the way in on cards after huge price spikes is wise, then do it yourself. Close all your retirement accounts. Drain your cash assets (which, unlike your 401K, you don't have to take a gigantic tax penalty to spend on cards) and YOLO everything on baseball cards. Do it. Post screencaps and show it. Nobody actually will, because it's just pumping for others to dump their money in so these folks holding right now can make money off it if the hype train keeps going up forever.

The Gary Vee worshipping, r/wallstreetbets subscribing breed of new collectors that get so much disdain in vintage land are at least fairly honest about what they are doing. Beware the doctor who won't take their prescription.

Agree!! I will say the major pumpers Gary Vee PWCC Ect are not average guys who have to move their retirement account monies out and go all in with funds to cards. Those guys already have the money and big money. They may want the average guy to deplete their 401ks moving the funds into cards but people who are smart, like the guys here aren't going to do that and the people that are don't have enough money in their 401s anyway to make a difference. A fool and their money are soon parted. If you're wise you can still invest in cards and your retirement account.

Many don't have the smarts to invest wisely in cards just as many don't have the stomach to invest in the stock market.