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There's more than just index funds out there. People park their money in art, stamps, antiques, rare coins, watches, real estate in the tundra. What does a Mone
by ntoskrnl 4y ago
There's more than just index funds out there. People park their money in art, stamps, antiques, rare coins, watches, real estate in the tundra. What does a Monet have to do with real-world economics, other than the hope that we all continue to agree it's valuable?
- giaour 4y agoPlease don't put your retirement savings in fine art or antiques unless you have spare funds that you can stand to lose. Collectibles consume wealth (maintenance costs) and do not produce it, so the only way you can make money is by accurately predicting what will be popular and paying to hold onto it for years. Most art and antiques decline in value over time, but you can get lucky. You should absolutely buy art that you love and can afford, but you should think of it as a consumable that can retain some resale value (like a car) and not as an investment. Rural land is a slightly different story, as there is some underlying productivity there (e.g. agricultural use, or maybe there's something to mine), but tundra real estate doesn't sound like a great buy.
- jfk13 4y agoFinally, a comment that makes sense. :)
- Cd00d 4y agoI think what a Monet has to do with real-world economics boils down to tax avoidance schemes.