My dad just died and left me cash

[Sylvain]

That's not a lot of money, that's the price of a cheap car.
So first of all calm down and dont think that you are super rich.
If you have that much money already that you dont know what to do with the 23K and already paid everything you had to pay you could give some of that money away.
You will very easily find people who NEED that money for food and other basic needs.
You could help lots of people in the need with that money and still have a bit left for you.Maybe some of your friends and family need money.
Its not that much money that you can do some major thing that will change your life.
If you dont need the money for anthing then save it, you will need it later.
Buy a couple of guns and ammo if that's what you really want but spending everything on guns even full autos sounds stupid.
I know that if I had this money I would spend most of it on my friends and family, you can always help with little money.

 

[IndyGunner]

A lot of people are telling you that guns can't be a good investment but I am going disagree just a little bit. Guns can be a good investment.

Thats completely based on your personal definition of "good". What rate of return is he trying to make on his investment?

Im not saying guns arent an investment, but historically, how much does any one gun go up in value, and over what timeframe? Thats what you have to ask yourself.

If a gun gets you a 50% return in a year... well **** I wish I bought a million of them. If a gun gets you a 50% return over three generations after you handed it down from son to son to son (or daughters) in combination with inflation... pass.

My grandfather brought back a nazi luger from WW2. It was appraised and is insured for $20,000. Considering the only investment he paid for that was watching several of his friends die... id say it wasnt worth it. Now if someone sells you a gun for $200 and you can cash out 20k within the next 10 years... thats a winner.

Also, like I said before, dont forget to factor inflation into your return. In the us, inflation is typically somewhere around 3%. That means if your gun doesnt produce at least 3.1% return each year, you just lost money.

Good luck

You will very easily find people who NEED that money for food and other basic needs.
You could help lots of people in the need with that money and still have a bit left for you.

Can I guess who you voted for in 2008?

 

[sepe]

I would head to Harvey Ill. and enjoy 20,000 $1 dances at the Skybox. The leftover money would be spent in the champagne room. That is how pops would've wanted it.

 

[JoshuaW]

As many others have said, you dont simply drop that kind of money in a low yield savings account. You invest it. You can get 5% on lower risk investments (note, lower risk, no low risk) and you can get as much as 7-10% on higher risk investments. Do you realize how much that is over the course of several years? You could see your money double in 15 years! Also keep in mind other investments. You could get a small loan and buy a small house and rent it, you could go back to school, you could send your kids to school, etc. Anyways, on to guns.

Full auto. Sure, pick up a couple guns that you want and would like to shoot, but if you are trying to invest in guns, then that is the only way to go. Get yourself a nice safe to protect your investments, then purchase those puppies and sit on them. Dont shoot them, there are fewer and fewer unshot or barely shot full autos around, and they will hold a higher value. If you must shoot them, but an extra specifically to shoot.

Just keep in mind, guns are not a good investment, and in a lot of ways, they are risky. They are material, so they are prone to wear and tear, as well as physical disasters, theft, etc. Not to mention the constant desire to devalue them. As you said, it is your money to do as you wish. Enjoy!

 

[superstorm]

Invest in Silver and Gold at least 20% guns are a good investment maybe a Roth IRA.

 

[VN Vet]

Invest in Silver and Gold at least 20% guns are a good investment maybe a Roth IRA.

I'd do something like superstorm said. Times are not good and will likely get worse.

Go ahead and get one gun that you always wanted and give it a name in honor of your Dad, but the money that is left, invest in silver bar stock or gold.

Ask what would your Dad want you to do with your inheritance.

vv

 

[E5RANGER375]

i expect the world governments to do something to rapidly deflate the price of gold so that people will sell it off, further reducing the price, then the governments will buy it all up at low prices. wait till it drops (Im sure it will) and then buy gold if you wish. I am 100% sure that food and water is the only 100% safe investment that will guarantee to gain value.

 

[ThrottleJockey]

i expect the world governments to do something to rapidly deflate the price of gold so that people will sell it off, further reducing the price, then the governments will buy it all up at low prices. wait till it drops (Im sure it will) and then buy gold if you wish. I am 100% sure that food and water is the only 100% safe investment that will guarantee to gain value.

This is it right here. Buy all the food you can get your hands on right now. I just returned from the grocery store and there was another 40% increase in the things I commonly stock over the last 2 weeks alone, 18% the week before that. I'm about to grab my rifle and run outside to see if it's time yet.

 

[prowland]

Everyone is wrong.... Hookers and Blow is the only solid investment!

 

[SSGSAD]

As many others have said, you dont simply drop that kind of money in a low yield savings account. You invest it. You can get 5% on lower risk investments (note, lower risk, no low risk) and you can get as much as 7-10% on higher risk investments. Do you realize how much that is over the course of several years? You could see your money double in 15 years! Also keep in mind other investments. You could get a small loan and buy a small house and rent it, you could go back to school, you could send your kids to school, etc. Anyways, on to guns.

Full auto. Sure, pick up a couple guns that you want and would like to shoot, but if you are trying to invest in guns, then that is the only way to go. Get yourself a nice safe to protect your investments, then purchase those puppies and sit on them. Dont shoot them, there are fewer and fewer unshot or barely shot full autos around, and they will hold a higher value. If you must shoot them, but an extra specifically to shoot.

Just keep in mind, guns are not a good investment, and in a lot of ways, they are risky. They are material, so they are prone to wear and tear, as well as physical disasters, theft, etc. Not to mention the constant desire to devalue them. As you said, it is your money to do as you wish. Enjoy!

Do you know the 7/10 rule ????? money invested, at 7%, doubles, every 10 years... money invested, at 10% doubles every 7 years..... GOOD LUCK ..... Dave Ramsey, is your friend .....

 

[Titanium Man]

When you talk to a CFP, make sure you will not have any tax liability when the time comes, so you'll have money to cover it. Sorry for your loss.

 

[03A3]

The price of full auto weapons is down now. That could be seen as a good thing. But it's also a clue, as to the current state of the economy and the uncertainty as to where things are going. Rising fuel cost could hammer us all in so many ways. This might be a good time to hang tight with your money.
On the other hand ammo prices are guaranteed to raise in short order. You could use some of that money to fund more ammo for the guns you already have, that is unless you are already heavily stocked.

 

[mainjet]

I am sorry to hear about the loss of your dad. A dad is something that cannot be replaced.

I suggest spending this money as fast as possible. Then when tax time comes you can pay the inheritance tax with a credit card. Then use Dave Ramseys plan to pay down the dept you just incurred with the new credit card.

You could also invest a little bit in a new pair of jeans since yours now have holes burned in all the pockets.

Seriously - open a free Vanguard account and invest it. Just as this money suddenly came to you, there will also be those unforseen money problems that arise. IMHO the guns are not really ever going to get you anywhere.

 

[TheDude]

Buy gold.

 

[Martin Draco]

I think we're missing the point. He has this money and just wants opinions on guns that might go up in value. He has no debt and his house is paid for. I don't think this is all the money has, it's just "mad money" that he has decided to spend on guns. I too am curious on peoples opinions on decent and cool investment guns. Perhaps something that might be banned from importation or discontinued by the manufacture?
I bought an M11 smg in 2000 for $1200 and even though machine guns have come down in price recently I still think I would come out ahead if I were to sell it.

 

[snapping turtle]

First thing to do is to get the blue book of gun values. 30-40 dollars. Best money you can spend right away.

Second thing to do is find something you really like and will use and fill those holes in the collection so if you buy investment grade guns you can make them safe queens. This way it won't kill you to not shoot some guns.

Third thing is one of the fun ones. Find the good deals on mint condition firearms (NIB is alway best) that happen along every once in a blue moon. Some people have a nack for this. Condition is the KEY. It is good to have the blue book available so that if you know the blue book value is say 1000 dollars and you can get it for 500 you already have a profit on the book so to speak if you have to sell it. They should keep up with inflation plus a little. Then again I have seen 7000 dollar midas grade superposed shotguns selling for 4000. They can go up and down. You can track this better now than we used to as gunbroker and the internet make info so much easier to find.

Forth a safe queen safe. Yes one you don't have to get every gun out of the get to the one you want to look at or use. I see lots of safe queens dinged up in safes take care to make sure they stay 100% as much as you can. The difference in a 100% and a 90 % firearm can be over 30%. Rust up a colection in a flood and see your investment vanish. Guns in boxes are hard to store in safes designed to store firearms out of boxes.

What comes around as collectable for some reason are weird guns that were not hits in the market, limited editions but not all of them (the latter made winchester commeratives come to mind) and deluxe items where there were cheaper versions made. Buying new guns thinking they will be collectors pieces is a gamble that would make house odds in vegas look good. In Anderson Indiana guide lamp made a throw away 45 caliber gun called a liberator in WWII. Those are the cheapest throwaway pot metal pieces. these are 3000-4000 dollar guns now.

Back in the day when star wars toys and match box cars were the rage I had a strange friend that would buy two toys of each type he wanted. One to play with and one to save. He did sell off those to pay for a kids college for a few years. The new star wars movies came out and the price of the old toys skyrocketed.

My pocket book is not as large as most but i do find some deals lately on grandpaws shotguns, 1950's 22's and a few quality revolvers. It seems when a real deal come around I seem to save and beg a few dollars and pull the cash together. I bet if I had the cash on account I could find more deals.

 

[LuckyGunner]

I'm sorry to hear about your losing your dad. It's good that your already debt free. I would probably look into investing at least half of it. That way every 10 years or so you can take 10k out and get some new firearms.

As for the remaining firearm budget. I would get whatever you really want first. For me it would be a Wilson 1911. After that I would look into picking up some high quality military firearms from WWII and back. I imagine that as the remaining are bought up and used. The value will increase.

__________________
rifle ammo

 

[Joeyidgaf]

After reading all the advise about my dad and my money, I must say I am quite touched. Thankyou for all for the great advise and very diverse to say the least. I must say that, YES, this is mad money. Although I am not going to spend it all on guns, let me tell you what I did with a part of it. I bought 10- Saiga 12 shotguns. I did not pay the stupid outrageous prices you see on Gunbroker. I got a very fair good deal on all of them. About $500 each. I am fixing up 3 of them now and having a blast doing it. These are fun to work on and when they are done, maybe I can charge the stupid prices they are getting on gun broker? LOL. Thanks again!