Cash out or leave to heirs?
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On May 17, 2019 at 8:24 AM, F For Fake said:

 

Otherwise, I plan on selling most of the stuff whenever I retire, as we plan on traveling a lot and won't be home to look at old comics and toys anyway. Plus, as has been pointed out, that stuff is heavy. I'm only 42 but I'm already tired of carrying boxes around. I can't expect I'm gonna love it when I'm 55-60. I'm already in downsizing mode, trading in boxes of drek for a handful of nicer books. I expect I'll continue along that route of consolidation, so it's possible that by the time I retire, I really may only have a few books.

I had a similar plan, however, two plus years into retirement, I have made little headway in selling more than I buy.

I have longevity in the genes, so 58 is still pretty young, however, nothing is guaranteed. 

My dad was super healthy and active, and he was randomly killed one day, way before he would have "naturally" died. That was a shocking wake up call to how quickly plans can change.

On the moving boxes around bit, it is a pretty good alternative to lifting free weights - just practice good form, and it will be good and healthy for you.

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1 hour ago, lizards2 said:

I had a similar plan, however, two plus years into retirement, I have made little headway in selling more than I buy.

OK. So stop slacking, and start pounding some sand!

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On 5/18/2019 at 3:43 PM, shadroch said:

In the next couple of years I have three traveling goals.

An extended road trip crisscrossing the country

An extended vacation of six to nine months in Central America

The Path of Saint James.

Having an extensive collection hinders those things. That's one reason I'm downsizing.

My Son did the Camino de Santiago two years ago and my youngest is doing it this summer.  While grueling it can be very rewarding.  Good luck with your goals. 

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2 hours ago, lizards2 said:

I had a similar plan, however, two plus years into retirement, I have made little headway in selling more than I buy.

I have longevity in the genes, so 58 is still pretty young, however, nothing is guaranteed. 

My dad was super healthy and active, and he was randomly killed one day, way before he would have "naturally" died. That was a shocking wake up call to how quickly plans can change.

On the moving boxes around bit, it is a pretty good alternative to lifting free weights - just practice good form, and it will be good and healthy for you.

Until I started lifting again, moving comic boxes around and dragging groceries home (yes, gasp, I walk to and from the grocery store most of the time) were my main upper body workout, particularly after my oldest got too big to carry around

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Posted (edited)

I'll be selling mine. I don't expect the market for comics to last (not trying to stir up that debate again, just stating which side of it I'm on) and my son stands to inherit an absurd fortune from an uber wealthy relative (who is already in steep decline) so he probably couldn't be bothered dealing with them.

Edited by mackenzie999

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On 5/17/2019 at 5:03 AM, drbanner said:

However, it's worth noting that if your heirs sell your books after you're gone they do not have to pay capital gains tax on the appreciation. For old-time collectors that paid nickels on (today's) dollars for their books, this could be a substantial savings if we're talking about a small number of high-$ books.

Although we often talk about capital gains taxes which we have to pay on the older books, wouldn't a portion of these gains also be offset by capital losses from all of the MA drek which some of the collectors have picked up over the decades and are now virtually worthless and good for recycle only?  hm

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So if my sister were the collector, and I inherited the books when she died in 2016, then I'm only responsible for the increase since then.  But if I was the one who bought them off the newsstand, I owe on the whole amount.  Interesting. Does the gubermint set out to screw people or is it the result of their incompetence?

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Posted (edited)

So a friend of mine mentioned recently that her deceased father's coin collection has been sitting in a safety deposit box, untouched, for years. The mom can't stand it and can't be bothered (actually I think they were divorced), the sister can't be trusted with it, so the responsibility of managing the collection is all on her. And she has zero interest in coins, especially as a collectible.  My first thought was A) Hey, I wonder what's valuable in that collection? My second thought was B) I wonder what's decreasing in value the longer she holds? (From what little I understand, the coin market is going through some of its own pains.) It got me thinking about my own comic collection again, and, if comic-collecting trends continue to behave the way they are now (or worse), how many of my books will be so much worthless paper encased in mylar tombs in the year 2039 or so. It got me thinking about how to get rid of it all sooner, rather than later, that's for sure. (The preceding sentence is not intended as an invitation for offers or queries.)

Edited by MisterX

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Posted (edited)
On 5/18/2019 at 4:43 PM, shadroch said:

In the next couple of years I have three traveling goals.

An extended road trip crisscrossing the country

An extended vacation of six to nine months in Central America

The Path of Saint James.

Having an extensive collection hinders those things. That's one reason I'm downsizing.

Carrying a few long boxes strapped to your back while you walk the Camino could be considered one hell of a penance, a collector's version of self-flagellation ... I would love to do "The Way" as well ...

Edited by BuscemasAvengers

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Precisely 42 days from today, I retire (at 55) ... I'm looking forward to spending more time hunting for GA books, as that rabbit hole seems to have no end!  I think around age 65 (God willing), I'll begin the process of selling, and using the monies for my wife and I to travel a little more, and some toward my 2 two kids.  I want that wrapped up before the 'day' ... and if that happens sooner than later, my son knows who to sell my collection to ... 

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Posted (edited)
3 hours ago, shadroch said:

Does the gubermint set out to screw people or is it the result of their incompetence?

Heck, if the government can't even keep track of real estate property sales as it's kind of all based upon the honor system, how in the world do you expect them to keep track of your comic book purchases and sales?  

Total incompetence as money launderers were walking away with hundreds of thousands or even millions of dollars tax free doing unregistered pre-sale condo flips.  Now, they are finally trying to close the barn door after the horses have already left the barn.  :censored:

Edited by lou_fine

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1 hour ago, BuscemasAvengers said:

Carrying a few long boxes strapped to your back while you walk the Camino could be considered one hell of a penance, a collector's version of self-flagellation ... I would love to do "The Way" as well ...

+ 1 on The Way.  No long boxes being carried, however, unless I hire a sherpa

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1 minute ago, GreatCaesarsGhost said:

+ 1 on The Way.  No long boxes being carried, however, unless I hire a sherpa

Or, you fulfil what Joost only realized in the film after they had started ... "You can do this on a bike?"

TheWay2.jpg

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Posted (edited)

Pass down to future kid(s).

I don't have a huge collection quantity-wise.  Will def verse any li'l ones on the ins-and-outs as they grow up.

 

Edited by exitmusicblue

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41 minutes ago, BuscemasAvengers said:

Or, you fulfil what Joost only realized in the film after they had started ... "You can do this on a bike?"

TheWay2.jpg

It's crossed my mind. You can do it in a week to ten days instead of a month walking.

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1 hour ago, GreatCaesarsGhost said:

+ 1 on The Way.  No long boxes being carried, however, unless I hire a sherpa

I think those are comics on his back ...

Sherpa.png

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22 hours ago, lizards2 said:

I had a similar plan, however, two plus years into retirement, I have made little headway in selling more than I buy.

I have longevity in the genes, so 58 is still pretty young, however, nothing is guaranteed. 

My dad was super healthy and active, and he was randomly killed one day, way before he would have "naturally" died. That was a shocking wake up call to how quickly plans can change.

On the moving boxes around bit, it is a pretty good alternative to lifting free weights - just practice good form, and it will be good and healthy for you.

I'm sorry about your father

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19 hours ago, mackenzie999 said:

I'll be selling mine. I don't expect the market for comics to last (not trying to stir up that debate again, just stating which side of it I'm on) and my son stands to inherit an absurd fortune from an uber wealthy relative (who is already in steep decline) so he probably couldn't be bothered dealing with them.

Dont worry about stirring it up! It's on about ten different topics right now,lol

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