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Please 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 (maintenanc
by giaour 4y ago
Please 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. :)