What happen when you become a cardboard millionaire?

elontusk1119 · 09-27-2021, 03:53 PM

For those who bought "cheap" highend stuff 5-10 years ago, now you are sitting on $1M+ portfolio of cards ... what do you do?

Do you ponder selling to retire or what?

pejc300 · 09-27-2021, 03:57 PM

If you sell you're taking a 30% hit so 1 million becomes $700,000 (or less) real fast. I just prefer to sit on it as I think it will continue to go up. It is proving to do much better than other investments and definitely outperforming the 1% or whatever I'd get at the bank. All depends on your situation. If I could guarantee a 10% return on my lump sum after I sold, I could retire, but no one can guarantee that percentage. So I'd rather just watch the cardboard go up and up and up, which is risky for sure. Also depends on what you're holding.

byronscott4ever · 09-27-2021, 04:09 PM

Sell high on stuff you don’t like as much

asujbl · 09-27-2021, 04:12 PM

Going to need more then a million bucks to retire…

elontusk1119 · 09-27-2021, 04:16 PM

Quote:

Originally Posted by asujbl

Going to need more then a million bucks to retire…

I guess that depends on where you live. With one million USD I can retire comfortably.

rroboo · 09-27-2021, 04:20 PM

Quote:

Originally Posted by pejc300

If I could guarantee a 10% return on my lump sum after I sold, I could retire, but no one can guarantee that percentage. So I'd rather just watch the cardboard go up and up and up, which is risky for sure. Also depends on what you're holding.

It was rare for a card to have a 10% annual increase every year pre-covid. You are talking about the blue-chip cards such as Jordan's fleer rookie, Mantle, Ruth, and Wilt. Any HOFer that isn't at the undisputed top of the list and isn't iconic version is not going to perform well.

I sold everything I had. Every asset class is extremely high right now, and have significant doubts of any increase in the card market. Not to mention a card manufacture monopoly coming soon.

asujbl · 09-27-2021, 04:24 PM

Quote:

Originally Posted by elontusk1119

I guess that depends on where you live. With one million USD I can retire comfortably.

I don’t believe you

But that’s a different thread

sebreg · 09-27-2021, 04:25 PM

Depends on the rest of my financial picture and financial obligations. If I can afford the risk I hold most, maybe sell some cards I like less to chase other ones I'd rather have. Or if I'm too overweight in cards sell some and rebalance to yield-generating assets like high quality dividend stocks and reits.

Westwave · 09-27-2021, 04:29 PM

Quote:

Originally Posted by asujbl

I don’t believe you

But that’s a different thread

It all depends on your definition of retirement. I don't believe anyone really retires nowadays but what is the lifestyle you choose to live?

If you have no mortgage, vehicle payment and no kids, living in the rural country and sitting on a mil in cash is pretty easy living. Especially if you are doing something to just pay the bills and you are using your retirement for travel or whatever.

Sitting on a 400-500K collection that one thought was maybe $100K only a few years ago doesn't hurt either.

You living in a high rent, high tax democratic urban setting? Ya $1M isn't going too last long.

starfox · 09-27-2021, 04:36 PM

Quote:

Originally Posted by Westwave

It all depends on your definition of retirement. I don't believe anyone really retires nowadays but what is the lifestyle you choose to live?

If you have no mortgage, vehicle payment and no kids, living in the rural country and sitting on a mil in cash is pretty easy living. Especially if you are doing something to just pay the bills and you are using your retirement for travel or whatever.

Sitting on a 400-500K collection that one thought was maybe $100K only a few years ago doesn't hurt either.

You living in a high rent, high tax democratic urban setting? Ya $1M isn't going too last long.

He's right, ya know.

Sent from my SM-G991U using Tapatalk

Mahomescards777 · 09-27-2021, 04:38 PM

I will invest 1milliln on doge

rhigh2390 · 09-27-2021, 04:41 PM

Quote:

Originally Posted by Westwave

It all depends on your definition of retirement. I don't believe anyone really retires nowadays but what is the lifestyle you choose to live?

If you have no mortgage, vehicle payment and no kids, living in the rural country and sitting on a mil in cash is pretty easy living. Especially if you are doing something to just pay the bills and you are using your retirement for travel or whatever.

Sitting on a 400-500K collection that one thought was maybe $100K only a few years ago doesn't hurt either.

You living in a high rent, high tax democratic urban setting? Ya $1M isn't going too last long.

Agreed. It all depends on what lifestyle you want, but you can definitely make it work fine, with certain guidelines like you pointed out (no debt, no kids, location, etc).

ohio_mba · 09-27-2021, 04:50 PM

With the way the market is trending now everyone will be a cardboard millionaire. Except there will be a negative in front of it.

CanadianKid · 09-27-2021, 04:51 PM

Don't you know things only go up, don't sell until you are 75-80+ and can enjoy it lol

Greed is good.

coltsfan23 · 09-27-2021, 05:24 PM

I always like to take chips off the table, but best to follow what feels right to you, nobody can predict the future.

jcardstore · 09-27-2021, 05:34 PM

If you’re like 60, yea you can probably retire with 1m. Otherwise, you’re gonna need more money than that for sure

PFF100 · 09-27-2021, 05:36 PM

Wait? These things are actually worth real money?

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Spartyon · 09-27-2021, 05:51 PM

Quote:

Originally Posted by PFF100

Wait? These things are actually worth real money?

Sent from my iPhone using Tapatalk

Of course not! Just the play money that governments learned they can print at will

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thenightman · 09-27-2021, 05:54 PM

Quote:

Originally Posted by Mahomescards777

I will invest 1milliln on doge

ADA, man, ADA.

boxbuster7 · 09-27-2021, 05:59 PM

Quote:

Originally Posted by PFF100

Wait? These things are actually worth real money?

Sent from my iPhone using Tapatalk

Enjoying cards for me has always come first. And this is an extension of my love of sports.

I've been in cards for money since I was a teenager, always wheeling and dealing. But I was never looking to get rich quickly. Or get rich at all. The thrill of it is what keeps me going.

In fact earning a lot of money in cards is a double edged sword. Being self employeed is the part that takes a lot of profit away.

I get by buying and selling cards. But I truly love what I do.

Siberian13 · 09-27-2021, 06:09 PM

Hookers and blow

Siberian13 · 09-27-2021, 06:09 PM

Quote:

Originally Posted by asujbl

Going to need more then a million bucks to retire…

Not true at all. I can retire on that and be happy and comfortable

asujbl · 09-27-2021, 06:14 PM

Quote:

Originally Posted by Siberian13

Not true at all. I can retire on that and be happy and comfortable

I don’t believe you for a second

Wings · 09-27-2021, 06:22 PM

I know Im a bottom feeder compared to all the high end big ballers but I don't know many 60 year olds that retired with 1 mil in the bank.

jcardstore · 09-27-2021, 06:24 PM

Quote:

Originally Posted by Siberian13

Not true at all. I can retire on that and be happy and comfortable

You can live comfortably on less than 50k a year? Because what is the average life span now, 80? If you’re 60, 20 years is a long time.

I feel like people still think a million is a lot when in reality it’s not very much at all

09-27-2021, 03:53 PM	#1
elontusk1119 Member Join Date: Dec 2020 Posts: 480	What happen when you become a cardboard millionaire? For those who bought "cheap" highend stuff 5-10 years ago, now you are sitting on $1M+ portfolio of cards ... what do you do? Do you ponder selling to retire or what?

09-27-2021, 04:12 PM	#4
asujbl Member Join Date: Jun 2010 Posts: 63,130 ohiosundevils	Going to need more then a million bucks to retire… __________________ https://ohiosundevils.smugmug.com/ Browns/Cavs/Tribe/Buckeyes/Jackets/Devils TheFrenzy - “Blowout ain't a place for normies”

09-27-2021, 04:25 PM	#8
sebreg Member Join Date: Sep 2020 Location: Phoenix, AZ Posts: 1,734 cardcollecting82	Depends on the rest of my financial picture and financial obligations. If I can afford the risk I hold most, maybe sell some cards I like less to chase other ones I'd rather have. Or if I'm too overweight in cards sell some and rebalance to yield-generating assets like high quality dividend stocks and reits. __________________ Cards: http://www.instagram.com/cardcollecting82 My artwork: http://www.instagram.com/sebreg Flickr: https://www.flickr.com/photos/190656817@N03/albums

09-27-2021, 05:34 PM	#16
jcardstore Member Join Date: Mar 2014 Posts: 21,992 Jcardstore	If you’re like 60, yea you can probably retire with 1m. Otherwise, you’re gonna need more money than that for sure __________________ Just moonwalking through hell on my last brain cell

09-27-2021, 03:57 PM	#2
pejc300 Member Join Date: Nov 2010 Posts: 10,746	If you sell you're taking a 30% hit so 1 million becomes $700,000 (or less) real fast. I just prefer to sit on it as I think it will continue to go up. It is proving to do much better than other investments and definitely outperforming the 1% or whatever I'd get at the bank. All depends on your situation. If I could guarantee a 10% return on my lump sum after I sold, I could retire, but no one can guarantee that percentage. So I'd rather just watch the cardboard go up and up and up, which is risky for sure. Also depends on what you're holding.

09-27-2021, 04:09 PM	#3
byronscott4ever Member Join Date: Nov 2009 Posts: 11,401	Sell high on stuff you don’t like as much

09-27-2021, 04:38 PM	#11
Mahomescards777 Banned Join Date: Oct 2020 Posts: 1,144 Sports_cards_collection	I will invest 1milliln on doge

09-27-2021, 04:50 PM	#13
ohio_mba Member Join Date: Feb 2010 Location: Ohio Posts: 3,413	With the way the market is trending now everyone will be a cardboard millionaire. Except there will be a negative in front of it.

09-27-2021, 04:51 PM	#14
CanadianKid Member Join Date: Sep 2020 Posts: 2,127	Don't you know things only go up, don't sell until you are 75-80+ and can enjoy it lol Greed is good.

09-27-2021, 05:24 PM	#15
coltsfan23 Member Join Date: May 2009 Location: US Posts: 10,208 coltsfan23	I always like to take chips off the table, but best to follow what feels right to you, nobody can predict the future.

09-27-2021, 05:36 PM	#17
PFF100 Member Join Date: Nov 2014 Location: From Hawaii, Stationed in AZ Posts: 805	Wait? These things are actually worth real money? Sent from my iPhone using Tapatalk

09-27-2021, 06:09 PM	#21
Siberian13 Member Join Date: Feb 2015 Posts: 78,030 shiller13	Hookers and blow

09-27-2021, 06:22 PM	#24
Wings Member Join Date: Jul 2011 Location: Omaha Posts: 5,395	I know Im a bottom feeder compared to all the high end big ballers but I don't know many 60 year olds that retired with 1 mil in the bank.