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@WOLFGANG posted:

There is no sense putting $ in the bank - CD now get .05%.  With Covid and whatever will come next - your best investment would be a classic car.  College can't get away with charging $25k per year for distance leaning.  Go for it an enjoy the time you have left.  

Classic cars are a hobby. They provide satisfaction, pride of ownership, happiness and even sheer joy at times, plus periods of challenge and frustration. The amount of money some people sink into this hobby is staggering, take Jay Leno for example. Cars can be an obsession bordering on madness. But if you're fortunate enough to have the extra scratch and a spouse who shares your madness, this hobby is loads of fun. 

Every financial advisor will tell you, however, that with few exceptions, classic cars make for awful investments. To make money, you have to maintain and repair the vehicle, register and insure it, store it indoors in a non-condensing, rodent and bug free environment, accrue as few miles as possible, and have the good fortune to pick a car that's increasing in value. You can't get attached, since you'll have to sell when conditions are optimal. All of this costs money, especially if you pay others to perform maintenance. 

If you want to invest, find some solidly-performing mutual funds with risk profiles that match your goals. Or hire a good financial advisor to manage your investments. But don't buy classic cars unless you can afford to splurge. You'll find better odds at the casino. 

 

... don't buy classic cars unless you can afford to splurge. You'll find better odds at the casino. 

I'm reminded of "lottery man" at my local C-store of choice. You know the guy-- male of indeterminate age, arrives on foot or a DUI-bike, stakes his claim at the register. His general MO is to pick out 23 different scratch-off tickets (one at a time) and order several packs of brand-name smokes. He's always short, so he goes about dealing down-- exchanging the name-brand smokes for generics, then dropping packs until his cash will cover everything.

He's scratching off tickets as he does the cigarette shell game, and exchanging them-- not for anything tangible, but for more tickets. All I want to do is pay for my soda and leave, but this man owns the register until he's scratched every ticket and turned the "winners" in for more tickets.

I'd like to step in and tell the guy it'd be more efficient and more rewarding for him to just give me the $23, and I'll give him a five.

Cars are kinda' the same way, only I'm the DUI guy. Even when I "make money", I've lost way more than I'll ever get back-- and a guy has to be good with that, or he's in the wrong hobby.

Last edited by Stan Galat

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