awesome, will look into this. Meeting with such a lawyer on Friday already.
We already knew about the annuity thing for some questionable expenses in the look back, but had not discussed this.
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You may or may not need a lawyer who specializes in this. The shop I found, this looked to be their bread and butter. They had spreadsheets and legal forms and everything on the shelf, very efficient. They had pamphlets printed that gave a real high level overview.
I had no idea, I just knew dad was paying $7k/mo out of pocket and started googling this. And it worked just as they described. No hassle.
I’m lazy. I buy Lego sets, stick them on a shelf and then sell them when they’re out of print for a profit. You can also do this with bullion coins.
I have a friend who’s been flagged on eBay for the amount of sports cards he’s selling. There are all sorts of hobbies you can use to make a dollar.
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I know some people who tried that with Beanie Babies. They lost money.
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I think stuff like Beanie Babies and Labubu dolls are a lot more ephemeral.
I think Lego is somewhat more persistent. Kids have been getting indoctrinated into Lego for decades. The number of brand new sets “decay” over time as people buy them to build them rather than holding onto them in pristine condition. You definitely have to pick and choose which to keep. If it’s too generic, it just doesn’t grow much in value.
Yeah, Lego makes more sense as it’s been fashionable with kids since forever. I wonder if anybody opens up a pristine vintage box of Lego to use or if they keep it as an investment item far into the future?
Lego sets?
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Im not sure about the 11% figure. Part of it is catching sets when they’re on sale.
Ahh…thanks. I have gone to a few lego conventions in the UK with the little one, but hadn’t realised they could also be used as investments. I did see a lot off discontinued lego sets for sale, but hadn’t made the link to investing.
I wish I could remember where I saw it, but I read an article on some guy who basically made a living buying things on sale. All manner of things, he had an app (I think) that would let him scan a UPC and see what an item is going for online. If he could buy something on clearance for $10 that was selling on eBay for $20, he’d buy it. Basically just arbitrage, with a lot of legwork involved.
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Not only that, but their popularity is really short lived.
I used to do that with books, but my margin dissappeared.
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I thought you were going to say the writing was on the wall.
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My oldest does NOT understand this point…
Did the printing on the page grow over time? or did the pages shrink moreso than the typeface?
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Had a friend who was a store manager for ToysRUs, would buy special edition Barbie Dolls when they first came out, kept them in their boxes.
Then lost his job (way before TRU went belly-up) and had to sell them piece-by-piece to make due. Sold the rest when he moved to Prescott, AZ after his mother died and he sold her house that was in Burbank. Will likely drink his way through that inheritance, but might die first.
Anyway, that is a story I wanted to tell.
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