further down I found this thread, and I just wanted to add that buying art, real estate, etc. is also a way to get money out of cash and into a physical asset form that retains value better. Ten grand in cash today isn't the same as ten grand in cash fifty years from now isn't the same as ten grand fifty years in the past.
But an original Picasso or even Warhol will likely only go up in value over time, rather than down.
It's one of the reasons physical assets are considered in taxable income.
further down I found this thread, and I just wanted to add that buying art, real estate, etc. is also a way to get money out of cash and into a physical asset form that retains value better. Ten grand in cash today isn't the same as ten grand in cash fifty years from now isn't the same as ten grand fifty years in the past.
But an original Picasso or even Warhol will likely only go up in value over time, rather than down.
It's one of the reasons physical assets are considered in taxable income.
True, but by that point the rich guy who owns it will have converted it to bullion or something a long ass time ago.
Rats from a sinking ship and all.