Ep 219 - Collectibles Nice Cars vs Passive Income

Freedom Through Passive Income

Collectibles, Nice Cars vs. Passive Income. For us, it's you vs. me. We used to be art auctioneers. All of our art is probably appraised $250K to $300K, somewhere in that ballpark and Flip got sports collectibles and things like that, so that kind of got our conversations going. These are stuff that we invested a long time ago and it doesn't produce passive income for us. We tend to invest in the things that we do, because we believe in what we're doing so much, we just invest in it. So now we're here talking about real estate, we invest in real estate, when we were auctioneers, we invested in art work. If we could change one thing, we wish we would have learned about passive income a lot sooner.

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When you’re young you focus on the things you can buy now. Before we used to collect artworks, sports memorabilia and other collectable items. But as we grow older you start realizing all these expensive things that we have everywhere and it's not providing us any passive income. We always get asked, what would you change differently? We probably would have tried to get more educated about passive income, how it affects your life and the peace of mind it gives you. My money is working for me, it's beating inflation, or at least keeping up with inflation. It's not losing money, sitting in the bank account doing nothing, we do it with investment vehicles, where we know we have the preservation of capital. And we would rather have all that and get to the point where we've gotten enough passive income. We're just not worried, we’re just so secured, what we have coming in monthly, even if we're not doing anything that's still coming in. So anything can happen to us, it just doesn't matter. And then you can go buy the toys, the art, and the nice cars.

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