My dad just died and left me cash

[Joeyidgaf]

I just inherited 23,500 bucks. I am going to buy guns. Why put it in the bank at 1%. I am not going to get stupid. I am not going to buy common guns. I am also willing to hold and not fire what I buy. What would you buy if 23k fell in your lap? Do I buy a Barrett? Uzi? Spas 12? HK? Let me know what you think?


Thanks for all the replies. my debts are paid. I don't own anybody. I own my home.
The money is free to spend.

 

[OneBadV8]

Something Full Auto so it increases in value. MP40, M16, HK91, MP5, Thompson, etc

 

[neraph]

M16, that way you can put another upper on it and actually shoot the thing.

 

[RelicHound]

Maybe spend some of it on a web site that works? shaq wears your clothing line....yet your site is busted lolz

 

[Kirk Freeman]

First, take a deep breath.

Second, do you have a CFP. I'd talk to one first.

Third, pay your debts.

Fourth, do you want "investment guns"? Do you want a gun you have always wanted?

 

[melensdad]

Most guns are a very poor investment, that 1% interest at the bank could return far more to you than if you purchased guns. Whatever gun you get, unless it is a full auto, don't even consider shooting it, and no common semi-auto gun is going to increase in value. Collector grade guns are not easily found and it would be easy to spend the entire amount on 1 gun.

 

[leftsock]

Machine guns are only have their inflated value due to the legislation that prevents new ones from entering the market. If that were to ever change, you would lose big time.

 

[pig957]

Sorry about your loss, but I'm also jealousy.

 

[ParkeCountyPlinker]

Sorry for your loss, but like others said, maybe paying bills would be better? It says you have a business, I know that if I had a business, 20K would be a nice amount to invest into it. There is always new and better equipment that could maybe make your business more streamlined and easier for your day to day operations.

 

[misconfig]

Sorry to hear about your pops.

I would follow Kirk Freeman's advice.

1.) Pay off your debts
2.) Buy a home or pay down your mortgage
3.) If 1 & 2 don't apply, invest, I would go for Full Auto as that's where the value is.

 

[combat45acp]

M16, that way you can put another upper on it and actually shoot the thing.

1st, sorry to hear about your dad.

2nd M16's are actually down in price from over the last couple years, and they have proven sense 1986 to be good investments. Shoot the thing like crazy, rebuild if necessary and sell 10yrs, 15yrs, 20yrs, whenever years down the road and make money.

 

[speedsix]

I think guns are like classic cars, they hit a spike in price when the people who are 60 years old now remember them from their youth and want to buy them back. Right now the 1960s muscle cars are all the rage but that won't always be the case. The real cherries will always be worth money but the run of the mill Mustang from the 1960s has plateaued in value more or less. I wouldn't buy a muscle car as an investment now because you will be lucky to keep up with inflation.

What you need to look for are either real mint and rare guns that will always hold their value or be ahead of the curve on something. Don't bother buying a Colt Python for $1500 right now because in 15 years it will be worth $2000. Same is true of the Colt SAA cowboy guns and Winchester rifles. They will hold their value but are not going to skyrocket in price like some other guns that have not yet caught on with collectors.

If you are looking for safety, go with what everyone else is collecting, i.e., Colts, Winchesters and the like. They will hold their value and are well established. If you want to be ahead of the curve, there is more risk but more upside potential as well. You are going to have to gamble a bit. That choice will be up to you but I would go with something that you like and know well. Don't buy a gun just as an investment. If you don't like it and want it, chances are nobody else will either. Buy guns that are desirable to you for some reason. If you are 30-40 years old, think about the guns you had when you were a kid and the guns you always wanted. Go after them first because in 20 years everyone else will be wanting guns from their youth and you will have them!

 

[goinggreyfast]

You sound like a young person, well younger than me anyway. PLEASE listen to folk who have been there, done that. If you want a collector's item, fine, go get your fix, but don't spend a ton on it.

Heck, Guns & Ordinance has a couple of full auto's for about $4K each--brand new never fired. Then you can show it off to your buddies, hike yer leg & **** on the corner of the house, grunt a few times, and put it back on the shelf itching your innards out to pull the trigger just once. Then one day when you & your homies have had just enough beer, they will talk you into throwing "just a couple" of rounds through it. Collector's item? I don't think so.

Be careful! Melensdad hit the nail on the head. There are a lot of investments out there that will net you more than 1.5% I once got a settlement and was not careful with it. Now, I'm kicking myself in the backside. My recommendation--want it or not--get in touch with Dave Ramsey. He's the best and can be trusted.

“It's morally wrong to allow a sucker to keep his money.” W.C. Fields

 

[cgbills]

Pay your debt off

 

[peloe16]

if this is money you could live without, invest it as long as you arent paying off bills. (if you have a credit card, the interest on money you have already borrowed is going to collect more interest that you will have to pay back than anything you might make money on). dont buy things. no matter what you buy (full auto or collectible firearm) they wont appreciate nearly as much as you could make. invest in a mutual fund that pays YOU money every year. 6,7,8, even 10%! with that you could buy guns for yourself to actually shoot. (that is 2-3K every year plus your full amount that you sill have invested that could still be growing).

 

[cburnworth]

I would also highly recommend paying off all your debt &/or paying the house down. The amount of interest you will be saving by paying the bills off will be worth it. also once that monthly payment is freed up you will be able to easily purchase more gun's. now that said, do you have your edc, a backup & a home defense weapon?

 

[goinggreyfast]

if this is money you could live without, invest it as long as you arent paying off bills. (if you have a credit card, the interest on money you have already borrowed is going to collect more interest that you will have to pay back than anything you might make money on). dont buy things. no matter what you buy (full auto or collectible firearm) they wont appreciate nearly as much as you could make. invest in a mutual fund that pays YOU money every year. 6,7,8, even 10%! with that you could buy guns for yourself to actually shoot. (that is 2-3K every year plus your full amount that you sill have invested that could still be growing).

What he said!

 

[Regionnus Rattis]

Pay off your debt and buy US gold or silver coins with the remainder. That will always increase in value. If you want something as a rememberance of your father, buy a modestly priced 1911. You will have that for the rest of your life and you can shoot it and enjoy it.

 

[bullet]

Sorry to hear of your loss. I would come to terms with my loss before I went out and did anything with the money. Just make sure your think right.

I would buy maybe a couple of guns nothing crazy expensive and look into investing the rest. There are a lot of things you can do with that money that will have a better return than a bank. At least worth looking into.

 

[Fishersjohn48]

First and foremost I am sorry to hear of your father's passing. I can relate as I have recently lost both of my parents.

I agree with the most of the above.
1. Pay off debt.
2. Pay down mortage
3. Mutual funds but if it were me I would not invest all at once. The market is so up and down right now that you could have a big loss initially and have a long fight to gain it back. I would choose a couple funds that fit your risk tolerance make the minimum initial investment. put the remainder in CD's/money market and then dollar/cost average for the next couple of years. Set it up so that you make a predetermined purchase of shares every month. You buy more shares when the market is down and less when they are more expensive.
4. Roth IRA

HMMMMM I haven't mentioned firearms in this list.

Buy something that makes you happy and shoot the heck out of it but that shouldn't cost you all that much.