Both my grandmothers collected things. Both my parents collect things. Not our kind of stuff, of course. But crap they thought/think was great. The old creepy porcelain dolls. Baroque art. Menus from roadside diners of the 40s/50s/60s. Pyrex. Lots of other crap. So I’ve seen multiple generations of different kinds of collections ebb and flow with time. And have had the headache of having to deal with it. And will have more to deal with in my life time.
If whatever you collect gives you enough joy that you don’t mind being found dead surrounded by it, then you’re doing just fine. Your money is worthless to you when you‘re dead, so you might as well use it in anyway you find enjoyable while you can.
Also, if what you put into your collection isn’t needed or you don’t care to leave real assets to descendants, then you’re fine. And it is your money and the damn kids aren’t entitled to it anyways. But don’t be so irresponsible to leave a large collection of dolls or statues to your loved ones. It will and does turn into disappointment and a burden.
When you stop, cut things down to one or two well-maintained display cases. 20 things tops. Have a printed list of what the hell the stuff is. Don’t leave things ‘preserved’ in boxes in storage rooms. If you are not enjoying it, sell it. Whatever you can get for it now will be a lot more than what your next of kin can get for it. You know what the stuff is and have the specialized market knowledge needed. Your next of kin doesn’t and doesn’t want to have to develop that knowledge to get rid of your crap at fair market value.
Do a little thought experiment. Count how many things are in your collection. 285? Great. Now imagine it is a collection of things you know nothing about. 285 pieces of Pyrex. 285 antique French Tete Jumeau dolls. Now imagine you have to do something with it because it isn’t your collection. Store it? Sell it? What is worth thousands instead of hundreds? You have no clue. If you have a room or multiple rooms full of boxed crap, do your loved ones a favor and sell it off or take it to the dump yourself.
But if you have no loved ones, being found dead in a pile of toys is just as valid of a life choice as being found dead in a pile of cash.
If whatever you collect gives you enough joy that you don’t mind being found dead surrounded by it, then you’re doing just fine. Your money is worthless to you when you‘re dead, so you might as well use it in anyway you find enjoyable while you can.
Also, if what you put into your collection isn’t needed or you don’t care to leave real assets to descendants, then you’re fine. And it is your money and the damn kids aren’t entitled to it anyways. But don’t be so irresponsible to leave a large collection of dolls or statues to your loved ones. It will and does turn into disappointment and a burden.
When you stop, cut things down to one or two well-maintained display cases. 20 things tops. Have a printed list of what the hell the stuff is. Don’t leave things ‘preserved’ in boxes in storage rooms. If you are not enjoying it, sell it. Whatever you can get for it now will be a lot more than what your next of kin can get for it. You know what the stuff is and have the specialized market knowledge needed. Your next of kin doesn’t and doesn’t want to have to develop that knowledge to get rid of your crap at fair market value.
Do a little thought experiment. Count how many things are in your collection. 285? Great. Now imagine it is a collection of things you know nothing about. 285 pieces of Pyrex. 285 antique French Tete Jumeau dolls. Now imagine you have to do something with it because it isn’t your collection. Store it? Sell it? What is worth thousands instead of hundreds? You have no clue. If you have a room or multiple rooms full of boxed crap, do your loved ones a favor and sell it off or take it to the dump yourself.
But if you have no loved ones, being found dead in a pile of toys is just as valid of a life choice as being found dead in a pile of cash.
