Taking money out of retirement funds to purchase cards

[Sean]

I borrowed a few times from my 401K to fund card purchases. I always paid it back. And I have a couple cards that matter more to me than the earnings that I missed out on in the market while paying off the loans. I don't know if it made financial sense to borrow, but the cards mean more to me, so it makes sense in that regard anyway.

[rats60]

Originally Posted by Sean

I borrowed a few times from my 401K to fund card purchases. I always paid it back. And I have a couple cards that matter more to me than the earnings that I missed out on in the market while paying off the loans. I don't know if it made financial sense to borrow, but the cards mean more to me, so it makes sense in that regard anyway.

I have borrowed to buy a card too. I have borrowed from my retirement, not for a card, but I wouldn't hesitate in the right situation.

I am always amazed at these threads and the negativity towards cards as investments. I have been doing it for 38 years and making easy money. I have constantly heard these negative comments from those not in the hobby, they just don't know. From people that should is just shocking. Sports cards have outperformed the market for 38 years and by a lot. I am not ready to get out yet.

If you are happy with mediocre returns in the markets, then make that choice. I have investments I'm the market too. Why so negative towards those doing better with cards? For those in the market, you have made zero the last 3 years. Why would you be surprised at someone moving investments from something not currently making them money to something that is?

[glynparson]

It’s not as crazy and some seem to be acting. In fact do what you are comfortable doing. Many people have made a lot of money on cards and other collectibles. If you go with blue chip items it’s not near as risky as some of the scared people pretend it is.

[ALBB]

depending on ones situation..
suppose your now nearing 75 + ,retired ...made loads of smart investments/ have the annuity / have a huge pension/ social sec./ house long paid for/ minimal monthly expenses...If its something you enjoy..why not ?

[ClementeFanOh]

Hi all- interesting topic for sure. To Rats60, bad news! We seem to think
alike at lot of the time In all candor, I have yet to take money out of a
retirement fund to buy a card (or comic book, etc) but I cannot fault those
who have. Finances are an intensely personal thing, too complex for most
individuals to lay out in a net54 post. Most folks who claim to "know"
financial markets should immediately be disregarded out of hand, they
"know" zero. Depending on the specific person's means, a withdrawal he/she
approves for the purpose of buying an extravagant collectible, cannot be
dismissed out of hand as a "bad" decision. I'd be willing to wager that many
of you have family members/friends/coworkers who have made
spectacularly unwise decisions for buying spur of the moment items with
retirement funds (insert item "X" here). How can a card with real investment
potential be a worse buy, than classic forehead slappers we all possess
knowledge about? In fact, that could be a compelling "Off Topic" thread
itself- what's the dumbest thing you can name, that someone frittered
away retirement funds to buy? What could possibly go wrong with that
topic? Trent King