What is the net worth of the baseball/sports card collector?

[hermanotarjeta]

Do we represent the financial elite in society or are we the poor masses? Simple question - what is your net worth, ie, your total assets minus your liabilities?

[SleepyWill]

1%

Live in a nice home in a affluent area of Mass, very lucky to live the life I do

[hermanotarjeta]

It feels like any dealer who sets up at the national has at least $100,000 in inventory, many have $1,000,000 plus.

Are we all financially privileged to participate in this hobby/business?

[dodgerfanjohn]

You are barking up the wrong tree because 1.) housing comprises the majority of net worth and 2.) net worth not including home of over $1 million is a very small population.

What you do need to focus on, and what some denizens of this site seemingly can’t wrap their minds around is the following sources of DISPOSABLE income:

-stock market has gone up by a factor of SEVEN in the past 15 years. That’s insane. I work a govt job and don’t need my 457 account at all(govt version of 401k), yet there it is. I’ve been working for this employer since 2000. My first supervisor all but forced us new employees into putting money in. And it’s not just me. Co worker who was clerical and retired in 2021, with a top salary of $78k, had her house and cars paid off, her full retirement, and over $500k in her 457. Again just ridiculous.

-multi generational households in big cities with high incomes/very high housing costs. What happens when min wage is $40k a year, average wage is over $70k a year, but average house is $900k? Yup, the kids stay with the parents and functionally their entire income is disposable income. Zero chance of saving to buy a house. So why even bother? Instead go out and enjoy life. Wonder why some concerts have $500-1500 face value tickets? This is why. And it’s not just a handful of people. It’s in areas with massive populations comprising a total of tens of millions of people. Almost all of California, LV, Phoenix, Portland, Seattle, I’m sure many more places.

-lawsuit settlement/winners, lotto, other financial windfalls. Not as many people here but enough that some find their way into the card market.

And not to be insensitive here but the poors really don’t matter to this discussion.the bottom 50% are completely irrelevant when the top 50% number over 100 million people.

[SaveMeTheGum]

If you live in the United States and are living paycheck to paycheck, but not in significant debt, you're still better off than 95% of the rest of the world. It's all perspective. And if you have good health, you're rich.

[boxbuster7]

50k in debt

ps - I need the two names that put 5-10 million because I don't believe either of you

[swerve]

Originally Posted by boxbuster7

50k in debt

ps - I need the two names that put 5-10 million because I don't believe either of you

Why is it that hard to believe? Especially if they are including the equity in their home.

[mfw13]

Originally Posted by swerve

Why is it that hard to believe? Especially if they are including the equity in their home.

Why is that hard to believe, given that the stock market has risen pretty much nonstop for the past 16+ years? The S&P is roughly 4x it's 2007 pre-crash levels, and 9x (i.e. up 900%) from it's March 2009 lows.

Bitcoin is well over 100K, which is more than 10x what it was worth even five years ago.

Gold & Silver are at/near all time highs.

If you've had any $$$ to invest over the past twenty years, you SHOULD be pretty wealthy by now.

And people like me who have been investing since the mid-90's....well let's just say that tech stocks have made me pretty damn comfortable.

$1000 invested in Apple in 1995 is worth about $183,000 now.
$1000 invested in Microsoft in 1995 is worth about $122,000 now.

You get the picture.....if you've been able to invest in the stock market even a little bit over the past 20-30 years, you should be pretty rich by now.

[anusinha]

Originally Posted by swerve

Why is it that hard to believe? Especially if they are including the equity in their home.

Pretty much any doctor, lawyer, techie, finance, accounting guy in their mid 40s and up is going to be there.

[hermanotarjeta]

Originally Posted by dodgerfanjohn

You are barking up the wrong tree because 1.) housing comprises the majority of net worth and 2.) net worth not including home of over $1 million is a very small population.

What you do need to focus on, and what some denizens of this site seemingly can’t wrap their minds around is the following sources of DISPOSABLE income:

-stock market has gone up by a factor of SEVEN in the past 15 years. That’s insane. I work a govt job and don’t need my 457 account at all(govt version of 401k), yet there it is. I’ve been working for this employer since 2000. My first supervisor all but forced us new employees into putting money in. And it’s not just me. Co worker who was clerical and retired in 2021, with a top salary of $78k, had her house and cars paid off, her full retirement, and over $500k in her 457. Again just ridiculous.

-multi generational households in big cities with high incomes/very high housing costs. What happens when min wage is $40k a year, average wage is over $70k a year, but average house is $900k? Yup, the kids stay with the parents and functionally their entire income is disposable income. Zero chance of saving to buy a house. So why even bother? Instead go out and enjoy life. Wonder why some concerts have $500-1500 face value tickets? This is why. And it’s not just a handful of people. It’s in areas with massive populations comprising a total of tens of millions of people. Almost all of California, LV, Phoenix, Portland, Seattle, I’m sure many more places.

-lawsuit settlement/winners, lotto, other financial windfalls. Not as many people here but enough that some find their way into the card market.

And not to be insensitive here but the poors really don’t matter to this discussion.the bottom 50% are completely irrelevant when the top 50% number over 100 million people.

Your perspective may be skewed in certain areas of California where virtually anyone who owns a paid off home is a millionaire. I understand your point, but when you feel rich because your home may be greater than 60% of your net worth, you’re likely to feel more comfortable spending more on cards.

I know I presented a simplified view because a lot of discretionary spending has to do with income as well, which is another factor that may make you more likely to make large purchases despite a lower net worth, but that’s another topic in itself.

[hermanotarjeta]

Originally Posted by anusinha

Pretty much any doctor, lawyer, techie, finance, accounting guy in their mid 40s and up is going to be there.

It also depends how much you spend a year. I know professionals who make a high income, but have a lower net worth because they spend everything they earn and don’t save.

[anusinha]

Originally Posted by mfw13

$1000 invested in Apple in 1995 is worth about $183,000 now.
$1000 invested in Microsoft in 1995 is worth about $122,000 now.

You get the picture.....if you've been able to invest in the stock market even a little bit over the past 20-30 years, you should be pretty rich by now.

$1000 into Tesla in 2011 is 145,000 today
$1000 into Nvidia in 2015 is 195k today (!!)

[hermanotarjeta]

Originally Posted by boxbuster7

50k in debt

ps - I need the two names that put 5-10 million because I don't believe either of you

And the thirteen decamillionaires!!!!

Must have a huge stache of Ohtanis, Mantles and Haalands!!!!

[TBTC Baseball]

Originally Posted by anusinha

$1000 into Tesla in 2011 is 145,000 today
$1000 into Nvidia in 2015 is 195k today (!!)

Can you tell me what will be $195K in 2035 if I put $1000 in it today?

Thursday I was in one group, after yesterday I dropped the next lowest.

[hermanotarjeta]

Originally Posted by anusinha

$1000 into Tesla in 2011 is 145,000 today
$1000 into Nvidia in 2015 is 195k today (!!)

$20,000 into NVDA in 2015 is almost $4 million.

No wonder so many people can afford endless amounts of dynasty breaks!

[Fenway55]

Originally Posted by TBTC Baseball

Can you tell me what will be $195K in 2035 if I put $1000 in it today?

If I was looking for such an investment - and believe you me, I am - I would look long and hard at AI firms and Quantum Computing firms.

[ctau00]

Originally Posted by SaveMeTheGum

If you live in the United States and are living paycheck to paycheck, but not in significant debt, you're still better off than 95% of the rest of the world. It's all perspective. And if you have good health, you're rich.

This right here!

Originally Posted by TBTC Baseball

Thursday I was in one group, after yesterday I dropped the next lowest.

Yesterday was rough. Added $865 traditional, $472 Roth, 184.22 Matching and $46.06 Automatic 1% and closed the day with a $6,287.77 net loss.

Gotta roll with the punches and blessed to have a decent income with minimal liabilities.

[boxbuster7]

because I know none of you are doctors or lawyers

y'all are driving from target to target looking for pokemon boosters to flip on facebook marketplace

[Badgers0821]

Long-term real estate investment is also another means of building a healthy new worth. High barriers to entry for most but can compound quickly.

[awz50]

No idea. Maybe a lot maybe not

[mfw13]

Originally Posted by anusinha

Pretty much any doctor, lawyer, techie, finance, accounting guy in their mid 40s and up is going to be there.

Yes and no.....I think profession takes a back seat to spending patterns.....I know several people who have utterly ordinary jobs, but who have become millionaires by being thrifty spenders and consistently investing in the stock market.

What you earn matters, to be sure, but how much you spend matters even more.

I don't drink coffee or beer.....all that money my peers have been spending in bars and at Starbucks over the past 30 years I was investing in tech stocks.

You'd be surprised how wealthy the stock market has made the people who were smart enough to save money and invest it.

[boxbuster7]

what do you drink?

[hermanotarjeta]

Originally Posted by boxbuster7

what do you drink?

He drinks water, like everyone else.

However, the only difference is, when he drinks water, he makes gold-plated records.

[Boredlawyer]

Someone go list a Colton Cowser gold storm card or whatever they're called so OP can go back to his hole

[oldgoldy97]

Then why are all the buyers lowballers?