Is it bad or am I doing ok

[VERT]

guns are good investment. don't let her brainwash you

This! Guns will always be worth something. My house is currently depreciating. Cars lose value and don't get me started on jewelry. As long as your debt is under control then why not more guns.

 

[flukose]

You said it yourself... you could be spending it on drugs or strippers. You get no true value out of that stuff. The reason I convinced myself of getting into guns was because very unlike cars, guns tend to hold some value over time. You have much better resale value. I wouldn't quite call all guns investments, but they have more potential. At the end of the day, you gotta ask yourself if you are happy.

 

[actaeon277]

Look into your home insurance. You might need to get a "rider" soon. Most insurance will only cover so much for guns, jewelrey, and electronics.

 

[mainjet]

It's a gun forum so I guess that everyone is going to say you're good. It's your money so do what you want.

When I was a young kid my wife got into a small accident with the car. We took the $500.00 and rather than fixing a dent in a car we bought our first house FHA. about 5 years later we sold the house for just under double what we paid for it.

Times are a little tough right now for real estate but not in your situation. You are not selling, you would be buying. You could get a killer deal on a house right now with all time low interest rates. As the economy improves you will ride that wave of increasing home prices up. I just refinanced my house for a shorter term the other day for 3.75% interest.

IMHO - no matter what your debt situation is, you will be far far further ahead later in life if you put that $9500.00 into something like a house. At your age especially. Guns will not build your credit rating and you will likely make no money on them. In fact you will probably take a loss because you will sell them when you need money quick and are willing to take less.

What guns are you buying that will have any real noticable appreciation? An XD, Glock? Guns are fun and I have lots of them. But I am sitting in my own house with my own new cars and feeding a family of 5 on my own while my wife is able to stay home with our kids.

Again, I am not telling you what to do with your money. It's just advice that I would be giving to my kids as what they should be doing at your age. But I don't fault you either for having enough money to buy them in the first place. So you are at least a young man that works hard enough to have those guns.

And last but not least - I have a Winchester 1873. Cabelas has the identical rifle for sale for $4000.00 but they did not want to buy mine because they just don't move. But they told me that mine was in great condition. So what you feel a gun is worth and what you may be able to get is two completely different things. Just look inthe classifieds

Bottom line is your probably not going to get even what you paid for the gun new. Are you buying collectors guns or just your off the shelf guns that you are shooting and enjoying?

 

[VERT]

Why everyone so negative about strippers? I could argue that they are still cheaper then certain pieces of jewelry.

 

[indykid]

You could have had a nicer truck, but I can pretty much guarantee you that in ten years your firearm collection will be worth at least what you paid for it, if not more. On the other hand that truck would be worth a ton less.

Just wait until you are my age and have maintained a nice collection. Then see what it's worth!!!!

 

[dbrier]

I agree with a few others, if you're not in debt and your finances are good, don't worry about it.
All hobbies cost money, as long as your savings are OK and you're not buying guns instead of paying debts, you are good. Get your guns now, you may be a little poor after buying a house, car, wife, kids etc.

 

[traderdan]

I cannot quite understand you all who are telling this gentleman that he will lose money on a collection of firearms....He probably should rent an apartment for the next 20 years,keep buying guns and ammo (and new safes as needed).

 

[gunman41mag]

The way this country is going, you mite need all the guns & bullets you can buy

 

[88GT]

Are you asking for validation or were you really not able to come to the same conclusion yourself?

 

[xdmstu]

Without knowing your full financial situation that's a hard one to answer. In general, I'll always side with balance and moderation.

6 months of savings?
401K funded (or other investment account)?
Yearly IRA contribution funded?
No credit card debt?

If you can check off all the above, buy to your hearts content. If not... well, work your way towards it while keeping a balance with savings and fun. Long term compounding interest in investments from a young age will far outpace the value of the average collection (barring the collapse of society of course).

Also, don't forget! If you think your spending about 2k per year on guns, be sure to add 50% onto that for all the accessories, upgrades, and ammunition!

Have fun.

 

[tgallmey]

What is your debt situation, OP?

-J-

Just College loans in the sub 10k now

This is the relevant question. After answering that, trucks < guns < house, although your first gun for protection ought to come before your first house.

Another question is what do you have for your $9500? If you said you got a "killer deal" on a gold plated Hi-Point and a used Glock, I'd say you aren't in that good a shape.

Of course, these are just my opinions.

I got alot of surplus guns and some rifles and shotguns a few decent handguns

And how much emergency savings is there?
Are you okay for a few months if you get laid off?

it's all about balance my friend......

I had Emergency savings but it ran out when I was unemployed so I gotta build it back up now that Im back to work

It's a gun forum so I guess that everyone is going to say you're good. It's your money so do what you want.

When I was a young kid my wife got into a small accident with the car. We took the $500.00 and rather than fixing a dent in a car we bought our first house FHA. about 5 years later we sold the house for just under double what we paid for it.

Times are a little tough right now for real estate but not in your situation. You are not selling, you would be buying. You could get a killer deal on a house right now with all time low interest rates. As the economy improves you will ride that wave of increasing home prices up. I just refinanced my house for a shorter term the other day for 3.75% interest.

IMHO - no matter what your debt situation is, you will be far far further ahead later in life if you put that $9500.00 into something like a house. At your age especially. Guns will not build your credit rating and you will likely make no money on them. In fact you will probably take a loss because you will sell them when you need money quick and are willing to take less.

What guns are you buying that will have any real noticable appreciation? An XD, Glock? Guns are fun and I have lots of them. But I am sitting in my own house with my own new cars and feeding a family of 5 on my own while my wife is able to stay home with our kids.

Again, I am not telling you what to do with your money. It's just advice that I would be giving to my kids as what they should be doing at your age. But I don't fault you either for having enough money to buy them in the first place. So you are at least a young man that works hard enough to have those guns.

And last but not least - I have a Winchester 1873. Cabelas has the identical rifle for sale for $4000.00 but they did not want to buy mine because they just don't move. But they told me that mine was in great condition. So what you feel a gun is worth and what you may be able to get is two completely different things. Just look inthe classifieds

Bottom line is your probably not going to get even what you paid for the gun new. Are you buying collectors guns or just your off the shelf guns that you are shooting and enjoying?

Just guns I enjoy and tinker with a few

Without knowing your full financial situation that's a hard one to answer. In general, I'll always side with balance and moderation.

6 months of savings?
401K funded (or other investment account)?
Yearly IRA contribution funded?
No credit card debt?

If you can check off all the above, buy to your hearts content. If not... well, work your way towards it while keeping a balance with savings and fun. Long term compounding interest in investments from a young age will far outpace the value of the average collection (barring the collapse of society of course).

Also, don't forget! If you think your spending about 2k per year on guns, be sure to add 50% onto that for all the accessories, upgrades, and ammunition!

Have fun.

Had 6 months till I got laid off now im building it back up
My pension starts in 2 years
Im planning on a IRA very soon
and no Credit Cards

 

[Hotdoger]

Just College loans in the sub 10k now



I got alot of surplus guns and some rifles and shotguns a few decent handguns



I had Emergency savings but it ran out when I was unemployed so I gotta build it back up now that Im back to work



Just guns I enjoy and tinker with a few


Had 6 months till I got laid off now im building it back up
My pension starts in 2 years
Im planning on a IRA very soon
and no Credit Cards

Nice!

Only thing is I would do is suspend the toy purchases and get the school loans paid off.

 

[patience0830]

I would "N E V E R" let my wife know how much money I have invested in my 100 gun collection

And when you die she'll sell them for what you told her you paid for them.



And I hope I find the yard sale first.

 

[mainjet]

OP - do you live at home or do you have your own place?

 

[Johnny C]

" you can buy a 1500$ rifle, but I cant have a 300$ ring? "

Sure girlie friend, you can buy yourself a ring, you dont have to spend your money on me, cause its not like we are married or anything

 

[exphys2010]

Im in the same boat man, Im 27, and had only a few guns when I was 22, now I have somewhere in the neighborhood of 25 guns. But, I looked at it and thought, I always have all of my bills paid on time, and I never put myself into debt because of a firearms purchase (credit cards, etc.), and I dont have any other bad habits (smoking, excessive drinking, etc.) that I spend an absurd amount of money on, so I figured, what does it hurt? Having a knife collection as well doesnt count as a bad habit though does it

 

[tgallmey]

OP - do you live at home or do you have your own place?

My own place

 

[Roadie]

Why did I wait until my 40s to start buying guns??

 

[JettaKnight]

Sounds to me like you are doing ok!

This reminds me of a "found" flyer: