2021 Exit Strategy

[Peter_Spaeth]

Originally Posted by Mark17

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.

Agree, his best course is to get all the way or mostly out of cards and into a conservative vehicle. But I don't think he's listening, he's just fine tuning which cards to sell first. You can't make the horse drink, as they say. I hope he reconsiders.

[Leon]

Hey Phil
Sorry to hear of the health issues. I hope that gets better. I, too, think you should be conservative if the finances are so needed. Good luck with everything.
.

[Republicaninmass]

I'd sell asap if the funds are badly needed. If there is some event which triggers others into "must sell mode" there will be a vicious race to the bottom.

[Yoda]

The late '70s were a terrible time economically; long gas lines due to OPEC freeze, prime rate at about 18%, sagging stock market, high inflation and no home mortgages available. Not saying we are headed into a similar scenario, but it sure a time to be careful with your money.