College Savings - buy/sell comics or tax free savings plan??

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Serious question. I am no lawyer = I really don't know. Can you legally take your child's inheritance and loan it to a complete stranger ?

 

I talked to my tax guy today and it would be a pain on a lot of different fronts such as yours so my daughters money is going into a tax savings account. It may not yield the biggest return for her but it will be easier all the way around.

There is no doubt that your daughter will recognize your love and caring and concern for her future by your decision. Maybe not today or tomorrow, but she will.

That is worth far more than 6K.

 

I agree I have kept mine secret from my kids I cant wait till next year to show them.

My daughter has 5 years until college and received $10,000 in an inheritance that is all going into her college savings before she spends it all on stuff. Here is the question - would you invest it in a tax free college savings plan or use the money to buy and sell books over the next 5 years? I'm not talking about buying a AF 15 and sitting on it for 5 years but the typical flipping situation (buying a collection or gradable books as many times as possible) over the next 5 years.

 

If she invest the 10k she will hopefully have 15k or so if her investments do really well over the next 5 years but that 10k could be big money if spent wisely on books over the same time frame.

 

Both options have some inherent risks but which would you pick? I'd like to sit her down and go over the pros/cons on these options and have her make an educated decision and your insight would be appreciated. I'd obviously help her with the comic flipping but I'd make sure she was involved in the process.

 

 

I tried something like this when my daughter was that around that age...only it was with beanie babies. She didn't have an inheritance, I just used some of my cash and bought some of those very hot at the time stuffed animals at some local stores and said we were going to sell them on eBay. I wanted her to learn how to start a business.

 

If you do this, be prepared to A, do most of the work because she'll get bored, or won't know how to do certain things, or won't do them they way you'd like them to be done

 

and B, do most of the work because she's going to discover boys.

 

I already had a FT job, it was a 2nd job for me.I just put all the money (the investment money AND the profits) into a college fund for her. It paid for a little of her expenses, so that was nice....but it WAS a 2nd job, .

 

With Beanie babies at least I could have her pack, you just put on a tag protector, used a zip lock bag and a box, but grading? Packing comics? I don't think so...she might do the labels and go to the PO (with you car;) but no matter how terrific and wonderful she is, (and I know dads hate to hear this),but she's going to be a hormonal teenager...and not a male hormonal teenager.

 

You will be dealing with mood swings galore, her stressing over homework, wanting to go out and be with her friends (didn't we all?) and boys;) The boys will probably be of more help to you, because they will want to please her;)

 

Be prepared, . I had the easiest kid on earth until she turned 15;)

 

I'd do the half and half thing. Invest 1/2, keep 1/2 in case you see an opportunity, or she wants a car;) or you decide to get her a car so you are not driving around a zillion teenagers at all hours of the day and night;)

 

Whatever you decide, there probably is no horrible answer, so Good luck!

My sister and brother in law are finding this out now with my 15 year old niece.

She went from a Frozen and Harry Potter fan to well a normal teen-ager.

My daughter is 8,so I have a few more years to prepare for it.

My daughter has 5 years until college and received $10,000 in an inheritance that is all going into her college savings before she spends it all on stuff. Here is the question - would you invest it in a tax free college savings plan or use the money to buy and sell books over the next 5 years? I'm not talking about buying a AF 15 and sitting on it for 5 years but the typical flipping situation (buying a collection or gradable books as many times as possible) over the next 5 years.

 

If she invest the 10k she will hopefully have 15k or so if her investments do really well over the next 5 years but that 10k could be big money if spent wisely on books over the same time frame.

 

Both options have some inherent risks but which would you pick? I'd like to sit her down and go over the pros/cons on these options and have her make an educated decision and your insight would be appreciated. I'd obviously help her with the comic flipping but I'd make sure she was involved in the process.

 

 

Barring an alien invasion where they'd wipe out half of the world's supply of AF15's you're not going to get a 150% return on a $10k investment in a collection set or single AF15 in five years in the comic book industry. There's just too much data and serious buyer knowledge already out there in this hobby. Unless you're at this 4/7 there's just far to many full-time dealers on the prowl who will always offer more; especially if you're talking key issues.

 

In other "hobby's", that are less crowded, yes, MOST certainly you can make that kind of return but not in comics.Under the right circumstances I personally could make you another $5k with a $10k in years time; certainly less than five years.

 

If you're talking a $10k inheritance I would not dilly-dab in any kind of professional investment service and there's probably a better alternative to a college savings plan that I'm unaware of. Nevertheless it sounds like a student loan in your situation is inevitable. It sucks I know but join the rest of America.

If it's "inherited" money I would NOT

oh please, using the flying donut technique, dan will have rinsed and repeated that $10K into $70K after 5 years easy peezy. pretty sure he's good for it.

 

How many years has Dan been doing this now?

 

If it's really easy peezy to get a 700% return in just 5 years time by flipping comics, should he not be retired and laying on some nice tropical beach by now, with enough money to last him for the rest of his life.

Things keep popping up. Stuff like college funds, braces, tutors, classes. Etc, etc.

keeps getting in the way. You can live miles from water but your entire inventory gets flooded. Car blows up five years ahead of schedule. Dan's got close to 15,000 feedback on eBay, not too shabby for a part time one man operation.

As a great man once said. Life is what happens while we are busy making plans.

Edited January 24, 2017 by shadroch

Buy stock in Disney. GOD BLESS...

 

-jimbo(a friend of jesus)

Buy stock in Disney. GOD BLESS...

 

-jimbo(a friend of jesus)

 

That was good advise a year ago prior to their record breaking year at the box office. I'm doubtful they will be able to repeat this year. (Although they do have a strong lineup of movies.) I would tread cautiously.

Buy stock in Disney. GOD BLESS...

 

-jimbo(a friend of jesus)

 

That was good advise a year ago prior to their record breaking year at the box office. I'm doubtful they will be able to repeat this year. (Although they do have a strong lineup of movies.) I would tread cautiously.

 

Yes, but probably more like 3 to 5 years ago, because they have basically been treading water for the past couple of years.

 

Well, at least they've finally got their price/earnings multiple down to a much more reasonable level of less than 20.

Buy stock in Disney. GOD BLESS...

 

-jimbo(a friend of jesus)

 

That was good advise a year ago prior to their record breaking year at the box office. I'm doubtful they will be able to repeat this year. (Although they do have a strong lineup of movies.) I would tread cautiously. [/quote]

 

Yes, but probably more like 3 to 5 years ago, because they have basically been treading water for the past couple of years.

 

Well, at least they've finally got their price/earnings multiple down to a much more reasonable level of less than 20.

ESPN has been a money pit for Disney with them losing over a million subscribers between Sept-Nov 2016. I don`t know if this will have an effect on Disney?

My daughter has 5 years until college and received $10,000 in an inheritance that is all going into her college savings before she spends it all on stuff. Here is the question - would you invest it in a tax free college savings plan or use the money to buy and sell books over the next 5 years? I'm not talking about buying a AF 15 and sitting on it for 5 years but the typical flipping situation (buying a collection or gradable books as many times as possible) over the next 5 years.

 

If she invest the 10k she will hopefully have 15k or so if her investments do really well over the next 5 years but that 10k could be big money if spent wisely on books over the same time frame.

 

Both options have some inherent risks but which would you pick? I'd like to sit her down and go over the pros/cons on these options and have her make an educated decision and your insight would be appreciated. I'd obviously help her with the comic flipping but I'd make sure she was involved in the process.

 

 

Barring an alien invasion where they'd wipe out half of the world's supply of AF15's you're not going to get a 150% return on a $10k investment in a collection set or single AF15 in five years in the comic book industry. There's just too much data and serious buyer knowledge already out there in this hobby. Unless you're at this 4/7 there's just far to many full-time dealers on the prowl who will always offer more; especially if you're talking key issues.

 

In other "hobby's", that are less crowded, yes, MOST certainly you can make that kind of return but not in comics.Under the right circumstances I personally could make you another $5k with a $10k in years time; certainly less than five years.

 

If you're talking a $10k inheritance I would not dilly-dab in any kind of professional investment service and there's probably a better alternative to a college savings plan that I'm unaware of. Nevertheless it sounds like a student loan in your situation is inevitable. It sucks I know but join the rest of America.

If it's "inherited" money I would NOT

That`s spot on. Look for hobbies that were once kings or just becoming kings.

Examples are pottery. Not many people know about marks and who the makers of the pottery where, so that can give you a huge advantage over a mainstream person.

Up and coming hobby is Funko. Not many mainstream people know that this is starting to take off.

Buy stock in Disney. GOD BLESS...

 

-jimbo(a friend of jesus)

If you say it`s good I will take your advice.

You are usually good about long-term stock bets!

I bought a 5.0 AF 15 in 2011 from a board member for 9500.

Sold it a year later, in Jan 2013 for $14.500.

Whats it worth today? I see 5.0s going for around $30,000.

Will it continue up at the same pace? I see no reason it won't.

My daughter has 5 years until college and received $10,000 in an inheritance that is all going into her college savings before she spends it all on stuff. Here is the question - would you invest it in a tax free college savings plan or use the money to buy and sell books over the next 5 years? I'm not talking about buying a AF 15 and sitting on it for 5 years but the typical flipping situation (buying a collection or gradable books as many times as possible) over the next 5 years.

 

If she invest the 10k she will hopefully have 15k or so if her investments do really well over the next 5 years but that 10k could be big money if spent wisely on books over the same time frame.

 

Both options have some inherent risks but which would you pick? I'd like to sit her down and go over the pros/cons on these options and have her make an educated decision and your insight would be appreciated. I'd obviously help her with the comic flipping but I'd make sure she was involved in the process.

 

 

Barring an alien invasion where they'd wipe out half of the world's supply of AF15's you're not going to get a 150% return on a $10k investment in a collection set or single AF15 in five years in the comic book industry. There's just too much data and serious buyer knowledge already out there in this hobby. Unless you're at this 4/7 there's just far to many full-time dealers on the prowl who will always offer more; especially if you're talking key issues.

 

In other "hobby's", that are less crowded, yes, MOST certainly you can make that kind of return but not in comics.Under the right circumstances I personally could make you another $5k with a $10k in years time; certainly less than five years.

 

If you're talking a $10k inheritance I would not dilly-dab in any kind of professional investment service and there's probably a better alternative to a college savings plan that I'm unaware of. Nevertheless it sounds like a student loan in your situation is inevitable. It sucks I know but join the rest of America.

If it's "inherited" money I would NOT

That`s spot on. Look for hobbies that were once kings or just becoming kings.

Examples are pottery. Not many people know about marks and who the makers of the pottery where, so that can give you a huge advantage over a mainstream person.

Up and coming hobby is Funko. Not many mainstream people know that this is starting to take off.

An old timer in the antique business always told me "All the money is on the floor and the walls". He was simply referring to paintings and rugs. Most people wouldn't know a $30k rug if they were standing on it. If you could have 20+ years buying and selling rugs and paintings and worked hard to advance your knowledge, you'd be a millionaire a few times over. Still can happen and you will continue to hear stories of $1 yard sale paintings selling for insane returns. The walls and floors, guys.

The way my wife has been drinking (and it ain't a happy drinking) since November 9, I suggest buy stock in liquor companies.

I bought a 5.0 AF 15 in 2011 from a board member for 9500.

Sold it a year later, in Jan 2013 for $14.500.

Whats it worth today? I see 5.0s going for around $30,000.

Will it continue up at the same pace? I see no reason it won't.

 

 

How many people are in the market for mid-grade $60K copies of not rare books? (If you honestly think it's going to double again in 2-3 years). Once upon a time every decent shop and dealer had one of those hanging up. In 1995 a nice Hulk 181 and an AF 15 like that were the same price, more or less. Don't people with this sort of budget already have the book?

 

At some point a book is too expensive in a common grade for the market to bear those crazy prices. It's a relatively common book, just look at how many copies of AF 14 are available for a few hundred bucks.

oh please, using the flying donut technique, dan will have rinsed and repeated that $10K into $70K after 5 years easy peezy. pretty sure he's good for it.

 

How many years has Dan been doing this now?

 

If it's really easy peezy to get a 700% return in just 5 years time by flipping comics, should he not be retired and laying on some nice tropical beach by now, with enough money to last him for the rest of his life.

 

Because there are only so many hours in the day, paticularly once one works one's day job, and only so many collections you can hunt down. And it takes a lot of time selling $10 books. It may be "easy" (as in you can do it while sitting on your rear end watching tv, for example), but it takes time.

 

Dan is making 100-500% profits on what he is selling, probably plenty more many times, but he has to put TIME into it. And Dan has a real full time job last I looked.

 

And I don't know if Dan's comic profits ever get spent on his real life, but that's one way for money to not get reinvested. I don't know Dan's finances. 90% of my sales go to paying bills.

 

Frankly, turning $10K into $70K of inventory/cash in 5 years seems entirely doable. That's squeezing $12K in profits a year out of all that hustling. Particularly if you are dealing with less expensive stuff and buying collections, if you aren't going to double your money every time you sell a collection you are doing it wrong because of the time you need to put in. Heck, when I go to a show I expect to double what I spent when I eventually sell, at least. But it takes time, and I'm paying more than what one would pay buying a collection, I'm just getting to pick my books a little better.

 

Think about it, buy a $2 book, sell it for $6 on ebay. After fees you have $4.50? So $2.50 profit. 125%!!!

 

Factor in the time and effort and I'm making minimum wage... no retiring on a beach for me, but I can turn that $2 into $10 in a couple of months. And that $10 could probably be $150 in 5 years.

 

OH MY GAWSH, I TURNED $2 into $150 in a MERE 5 years!!! It only took me ____ hours to do it!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Edited January 25, 2017 by the blob

I bought a 5.0 AF 15 in 2011 from a board member for 9500.

Sold it a year later, in Jan 2013 for $14.500.

Whats it worth today? I see 5.0s going for around $30,000.

Will it continue up at the same pace? I see no reason it won't.

 

 

How many people are in the market for mid-grade $60K copies of not rare books? (If you honestly think it's going to double again in 2-3 years). Once upon a time every decent shop and dealer had one of those hanging up. In 1995 a nice Hulk 181 and an AF 15 like that were the same price, more or less. Don't people with this sort of budget already have the book?

 

At some point a book is too expensive in a common grade for the market to bear those crazy prices. It's a relatively common book, just look at how many copies of AF 14 are available for a few hundred bucks.

 

 

Go back ten years and you'll see lots of similar posts. All of which turned out wrong. I personally didn't want to spend five figures on the book, thinking that might be the books sweet spot. My first copy ,I paid $125 for and people thought I was nuts then.

I bought a 5.0 AF 15 in 2011 from a board member for 9500.

Sold it a year later, in Jan 2013 for $14.500.

Whats it worth today? I see 5.0s going for around $30,000.

Will it continue up at the same pace? I see no reason it won't.

 

And you're giving investment advice?

Start doing Amazon FBA, get a resale certificate and start buying wholesale to send into Amazon. You'll make more than sitting on an AF 15 for 5 years which of course is more of a 20-30 year investment than a 5 year one.

I bought a 5.0 AF 15 in 2011 from a board member for 9500.

Sold it a year later, in Jan 2013 for $14.500.

Whats it worth today? I see 5.0s going for around $30,000.

Will it continue up at the same pace? I see no reason it won't.

 

And you're giving investment advice?

 

Yes, bought it in early December.

I don't offerfinancial advice. Simply report on past sales.

Edited January 25, 2017 by shadroch