How much money is into collecting, In 2012 the world's millionaires devoted an average of 9.6 percent of their fortunes to nonfinancial assets, such as collectibles, according to a survey by Barclays Wealth and Investment Management and Ledbury Research. May it be paintings, coins or whatever nich one finds that fits their forte big money is there. The advantages are collections can be like IRA`s with no yearly taxes unlike physical property such as a house. A house also requires maintenance and yard work costs. Depending on how much they are taxed houses or land are still major investments. Taxes will dictate the margin of profit for them. Not having to pay yearly taxes for a possession however is utilized by the wealthy and not in a small means. Rare coins soared 248 percent in value over the past 10 years, according to the Luxury Investments Index, found in the Knight Frank 2013 Wealth Report. The secondary market, such as not quite as rare provide wealth building also. That`s for and I with the incintive to be financially secure and maybe wealthy. One step at a time and careful selection. You don`t want to just go out there and buy anything. Know what you are buying, find your nich and know why you are investing that way. Unless you own a bank vault don`t advertise to anyone of any collection. Depending on where you store it of course. Below is a link of encouragement for anyone looking to be a successfull collector.
http://www.cnbc.com/id/101399860
No comments:
Post a Comment