Last night was the big annual meeting with the financial advisor where she tells me how much money I don’t have and that I won’t be able to retire until I’m 80. I thought with the way the economy is and how ebooks are supposedly taking over the world, I might be able to finally convince my advisor that putting all my savings into paper books is the most stable and best investment around. After all, I’d not only be investing in an object but also in the improvement of my mind and the preservation of culture especially when the electricity grid crumbles and the world runs out of oil leaving us without our fancy computers and internet.
My financial advisor, she’s a hard nut to crack. She believes in diversification. I said I would be sure to buy from a variety of genres including books in translation and even nonfiction across a range of subject matter. How much more diverse can you get than that? She remained unconvinced. She wants to meet again in March. That should give me enough time to come up with more arguments.
Hilarious post. But I feel like you may be on to something. If e-readers come to really dominate publishing and paper books disappear, just think of the value of our shelves and shelves of books…
Well I was going to say what your first commenter had expressed… you can always go into the antique business some time in the future.
I’m way impressed you even have a financial advisor! You can tell her that random people you know from the internet find your arguments on this score extremely convincing.
I think maybe you need to get a second opinion…
I’ll come up with some more!! And you’ve rumbled me – if my tbr pile is expanding rapidly at the moment it’s so that ‘I’ll have enough books to last me the rest of my life if we go digital.’ You may imagine how impressed Mister Litlove is with that!
Sounds like she needs to relax. Maybe you should lend her a book?
If books are a good investment (and I already thought they were no matter what she says), I should be rich in my old age (and in more ways than one!).
Financial advisor? You have a financial advisor? I’m reminded when, about ten years ago, former senior partner called us all into his office and said we may not be getting paid because billables were so rotten, his billables, that is…and since the firm paid all his personal bills that stuff came first, we had better “see [our] bankers” about loans. “What banker are you talking about?” said I. “My personal banker is Susie the teller.” Although I really do need a financial advisor since it’s the one thing I really do need advice on. Tell you can invest in books, or you can invest in therapy…which would she suggest. The books are probably more of a bargain.
I’m taking notes of your arguments for book buying so I can share with our advisor
Loved this. How I’ve missed catching up with you.
Oh how I wish I had a ‘Beam me up Scottie’ transporter, so that I could get to your place and save you from ‘financial advisors’ I’d beat them off with a broom/besom!
Heh. I once tried the “investing in myself” line on a banker. Blank stare. Did not compute.
My investment problem is not knowing if I’ll even make it to 65. Should I save or blow it all while I still can…?? I wonder if Amazon sells crystal balls?
Plus, think of all the good you’re doing in supporting the local economy.
Fire her and her smug opinions!
This DID make me laugh Stefanie. Any time you need to brainstorm some arguments just let me know! I’m here at the end of Skype.
Thomas, exactly! And when all those servers holding all those books crash and the data is no longer retrievable people will be knocking on our doors!
Arti, heh, that assumes, however that I would want to sell anything in my collection. I think it is a bad business model to say that I won’t sell anything
Emily, I have a financial advisor because I don’t want to have to learn all the ins and outs of investing so she does it for me. Plus she doesn’t panic like I do when the market drops. And I am sure she would finally see reason if I told random people on the internet said my ideas were great
Emily B, I’d be afraid if I got a second opinion I’d get trapped in some sort of bookish ponzi scheme and then where would I be?
Litlove, heh, we must plan for the future when it comes to books. You never know what is going to happen so it is good to be prepared for emergencies! I’m sure Mr. Litlove can agree with that
maggie, LOL, oh no, I am not a book lender. I could buy her a book though.
Danielle, I agree! I already feel quite wealthy when it comes to books. Now if I could only get the money I plan to live on in retirement to match.
Grad, oh yes, I’ve had a financial advisor for about 9 or 10 years. She’s very good and patient and gives me hope that maybe I will be able to retire someday with my pile of books. If I gave her the books or therapy argument she might tell me to use my library card more often!
Iliana, if you can get my arguments to work with you advisor, please forward to me your advisor’s contact information
Katrina, LOL. My advisor is quite nice. She tells me she wants me to be able to retire so I can have lots of free time to read all my books. She kind of has a good point with that one.
Sylvia, your banker story is pretty funny. I am sure you will make it to 65 and well beyond. I was gratified that my advisor is planning my life expectancy to be 100. Though I gave her a hard time and said she had better make it 110. Then she said I’d either have to work longer or save more money. Kinda puts a crimp in things
Softdrink, oh yes, I didn’t think of that argument! Not only the local economy but all those starving writers too, right?
Bikkuri, LOL!
whisperinggums, I will keep your offer in mind!
How does one find a financial advisor, by the way? I’m totally convinced by your logic here, which maybe means I need one of those advisors?
Hilarious!
I think investing in books is the way to go. I recently met with my own financial advisor [for real] and according to Mike, I only need to keep constantly working and strategically saving until I’m 95, to retire comfortably.
I hope there’s a Library in the poorhouse!
Dorothy, my advisor used to be a volunteer at the nonprofit where I used to work. She works for Ameriprise. Barring finding one like I did, I think getting recommendations from friends is the next best route.
Cipriano, Mike and my advisor must know each other!
FIRSTS Magazine used to do a “Blue Chip” list of modern-ish first editions and check in on the list every so often and see where the values were– they usually far out performed every other measurable group of stocks in the same period. Fascinating.