Listen "524: Buying Art and Nice Stuff as an Investment"
Episode Synopsis
When we think about investing, our minds usually go straight to stocks, bonds, and real estate. But some of the best opportunities come when you stop thinking of investing as something separate from your everyday life. What do I mean by this? A lot of the things we buy are treated as expenses when they could be investments. You might wear a watch or jewelry simply because you like them, but you avoid spending too much because it feels frivolous. Yet what's better—paying $250 for a decent watch that will be worthless in 10 years, or $5,000 for a Rolex that could be worth twice as much over the same period? The same idea applies to cars and even furniture. I have a good friend who lives by this philosophy. For decades, he's chosen to invest in the finer things rather than the ordinary, and it has become a cornerstone of his personal investment strategy. It's about thinking differently—turning what most people see as expenses into assets. Art falls into that same category. I'm not a huge art guy myself. Sometimes I'll buy a piece off the street because I've never thought of art as an investment. Yet for centuries, people have purchased art for its beauty, cultural value, and emotional impact—and often made a financial killing in the process. Today, art is recognized as a legitimate asset class—something that not only enriches your life on the wall but also diversifies and strengthens your portfolio. This week on Wealth Formula Podcast, we're going to explore how fine art has evolved into an investment category in its own right, and how you might think about incorporating it into your wealth strategy. Learn more about Philip Hoffman and The Fine Art Group: https://www.fineartgroup.com/
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