Author Topic: Invest in stock or new tools?  (Read 2844 times)

mrgarm13

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Invest in stock or new tools?
« on: September 20, 2012, 04:43:30 PM »
Hello, I am at a crossroads. I have two major purchases coming up.

1. Machinist tools. (Taps, dies, sockets and wrench's. I already have a lathe and milling machine.)
2. Electronics Workbench. (Power supply, Function generator, other tools.)

But, I got to thinking, would this be better spent on buying stocks to improve dividends? I work in fast food and am getting called into work all the time. When I am not at work, I am helping my dad with the farm, so buying new tools seems like they would go to waste. On the other hand, I can't do the more complex stuff without the tools.

Thank you for the replies.

gooki

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Re: Invest in stock or new tools?
« Reply #1 on: September 20, 2012, 05:55:46 PM »
I'm all for investing in yourself... as the potential returns are much higher anywhere elsewhere.

arebelspy

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Re: Invest in stock or new tools?
« Reply #2 on: September 20, 2012, 06:06:42 PM »
By "new" you mean "used, and functionally the exact same," right?
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Russ

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Re: Invest in stock or new tools?
« Reply #3 on: September 20, 2012, 09:42:30 PM »
If you have machining and electronics experience and a good work ethic, what the hell are you doing working in fast food? Unless you absolutely love the job you're already at, there are way better options you could be looking into.

mrgarm13

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Re: Invest in stock or new tools?
« Reply #4 on: September 21, 2012, 01:22:28 AM »
I suppose buying used tools would be fine. I would have to look into that. I just figured no one would sell wrench's once they got a set. Weirder things have happened I suppose.

It's my first job. Despite having an associates degree in Industrial Electrical, I couldn't get a job. So my general manager friend got me a job and I decided to stay until he left. He should be quitting soon and everyone will leave with him.

arebelspy

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Re: Invest in stock or new tools?
« Reply #5 on: September 21, 2012, 07:23:47 AM »
I suppose buying used tools would be fine. I would have to look into that. I just figured no one would sell wrench's once they got a set. Weirder things have happened I suppose.

Happens all the time. 

Estate sales.
Someone retiring from handyman job.
Someone hit by economy in construction job and needing money.

Check pawn shops for tools.  All the time people pawn their tools cause they're worth money, and then purchase more later.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Russ

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Re: Invest in stock or new tools?
« Reply #6 on: September 21, 2012, 08:56:20 AM »
Retiring machinists sell their used tools on Craigslist all the time. Beautiful tools for literally pennies on the dollar. These guys relied on this stuff for their job, so the tools are almost always in perfect condition. Measuring tools come up most often, but anything you're looking for will show up eventually.

For electronics maybe check out the local university or trade school? If you're lucky they might have some old equipment they could sell you