TMCP #456 – Ask Rick, The Realities of Classic Cars as Investments; Which 2021 Muscle Cars Are Collectible?

The MuscleCar Place

Robert Kibbe

Automotive, Leisure, Business, Careers

4.8 • 701 Ratings

🗓️ 5 February 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Investing: In this day and age of huge government stimulus packages, thoughts turn to rising costs and inflation. Since our audience could invest in something, why not follow Rick's model and invest in what they know best; cars! Rick shared that one of the lessons his father believed most was to invest in yourself first, and as such the stock market is now where he chose to invest but instead in his businesses and in assets. The car collection they curated.....wasn't actually for an investment though, though it resulted in one. In addition they chose to purchase low mile, highly optioned cars not as speculation bets, but simply because they liked them! Some are rare, some are not, but all are special. Today if they wished to sell a portion of the collection they would certainly see a great return....but that day may or may not ever come. Why? They still like the cars!

The post TMCP #456 – Ask Rick, The Realities of Classic Cars as Investments; Which 2021 Muscle Cars Are Collectible? first appeared on The Muscle Car Place.

Transcript

Click on a timestamp to play from that location

0:00.0	The Muscle Car Place Online Podcast, episode number 456. This week, it's the first show of the month for show of February, and we're going to talk about investing with Rick Schmidt for the Ask Rick segment.
0:13.1	As you know, Rick and his father built a massive car collection by being picky and trying to buy value, yes, but really what they bought was what they
0:22.4	wanted, what they knew the most, what they loved the most. This is certainly not a get-rich-quick
0:27.8	scheme, but maybe accidentally it could be a make-money smart plan. We collected because we loved
0:35.1	the cars, we loved the history, and we really sought out quality stuff.
0:41.3	Now, in hindsight, 2020, we did pretty damn well. Would we have predicted that? No.
0:51.3	This is the Muscle Car Place weekly online podcast.
0:56.0	Brought to you by National Parks Depot.
0:59.0	This is the weekly show dedicated to people worldwide who love American muscle cars.
1:05.0	Whether you're buying them, selling, restoring, or even racing them, this is the place for you. Now, here's your host, Rob Kibby.
1:15.2	Yes, indeed, I am Rob Kibby, and welcome to the Muscle Car Place podcast. Fun show today with Rick for Ask Rick.
1:22.6	You know, everybody, whether they admit it or not, they think their car is just worth a ton, or they got a car that could
1:28.4	be worth a ton, or they know which cars to buy, they're just going to be worth a ton. Realistically,
1:33.6	we're all wrong. But we're going to talk about investing in cars specifically. If you follow Dave
1:40.4	Ramsey, I'm a certified Dave Ramsey financial counselor. I've told you that I'm sure in the
1:45.1	past. It's been years. I'm lapsed in my certification, I'm sure. But the principles are pretty
1:50.9	unending. And when it comes to investing, Dave Ramsey's advice is invest in something you understand,
1:57.1	something you know. If you can't explain to somebody, you shouldn't be in it. I'll leave it to you to
2:01.5	decide how you want to invest. But since we all here understand cars, muscle cars specifically,
2:07.7	that's what we're going to talk about. As always, you know, when it comes to investing in anything
2:14.1	speculative, it's easy to end up feeling like a sucker. I have bought some stuff that, you know,
2:19.9	somebody told me, hey, you're never going to get in lower than this. Go ahead and try it out,
	...

Transcript will be available on the free plan in -1515 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Robert Kibbe, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Robert Kibbe and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.