TMCP #552: Ask Rick – Is it Wise (or Possible) to Have Collector Cars as Your Retirement Investment?

The MuscleCar Place

Robert Kibbe

Automotive, Leisure, Business, Careers

4.8 • 701 Ratings

🗓️ 8 September 2023

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

It is September and football is back!!! It is also time for another riveting Ask Rick segment were I ask him the tough questions that not everyone wants to hear. As always Rick delivers sage advice and wisdom founded in years of buying and selling classic vehicles. When it comes to cars as investment, possibly a with a great ROI, Rick has strong opinions and advice here. Can it be done? Short answer; yes! Should it be done? Long answer......maybe.

As with all things, it depends what you understand and where you can make your gain on the purchase of the car initially. For Rick and his dad, their collection has immense value today of course, but every car in inventory was chosen for it's specialness to the Schmidt's not as a hedge on a great investment. They chose high quality low mile original cars and didn't just stick to muscle cars. Their collection has many examples of unique rare American cars that have less than 1000 miles (think Rivieras, Eldorado's, and Lincoln's).. Some have interiors with the delivery plastic still in place! Others are beautifully restored treasures. Today, it's paid off. Technically, it could payoff if they ever chose to sell....which they almost never do!

The post TMCP #552: Ask Rick – Is it Wise (or Possible) to Have Collector Cars as Your Retirement Investment? first appeared on The Muscle Car Place.

Transcript

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0:00.0	The Muscle Car Place Online Podcast, episode number 552.
0:05.2	This week, Rick Schmidt is here to discuss once again the topic of classic and collector
0:10.1	cars as investments.
0:12.0	Talking about investments, just as other people would talk about mutual funds or stocks or bonds.
0:17.4	Rick and his dad know this game.
0:18.9	They've built an amazing collection of cars with the goal of quality
0:22.1	and originality first. Their collection was never built to sell, but they sure have learned the
0:27.6	game, and it's a game maybe you could play too. I see these arguments on forums, social media,
0:33.0	car sites all the time, that classic cars are a terrible investment. They're a terrible investment.
0:39.4	They don't have to be.
0:40.7	They can actually be a really, really incredible investment.
0:46.5	This is the Muscle Car Place online podcast, brought you by National Parks Depot.
0:53.2	This is the weekly show dedicated to people worldwide who love American muscle cars.
0:59.6	If you're buying, selling, restoring, even racing them, this is the place for you.
1:05.8	Now here's your host, Rob Kibby.
1:09.1	Yes, indeed.
1:09.9	I am Rob Kibby, and welcome to the Muscle Car Place podcast.
1:13.0	Well, here we are, everybody.
1:14.8	The month of September is now upon us.
1:17.8	Labor Day is in the rearview mirror.
1:19.2	The NFL resumes play this week, and soon we'll be talking about the three-month holiday
1:24.3	window known as Halloween, Thanksgiving, and the big one Christmas.
	...

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