View Poll Results: Should I buy my kids a collector car as an investment?
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NO!!! You're f'ing nuts for even considering it.
9 36.00% -
HECK YEAH!!! Are you kidding... best idea EVER!
2 8.00% -
It's a risk, but a worthwhile risk... plus you get to enjoy having the car in the meantime.
6 24.00% -
It's your kids' money, their college savings... leave it alone and let it build interest.
9 36.00%
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Thread: Kinda a crazy question...
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06-24-2011 #1
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- Join Date
- Dec 2004
- Location
- Sarasota, Fl
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- 1,717
Kinda a crazy question...
This is almost entirely theoretical, but I wanted to get some folks' opinions...
Am I completely nuts to consider the possibility of buying a "collector" car as an investment for my kids with their savings?
My kids are 4 and 7 and they have a healthy chunk of change from birthday and other holiday gifts sitting in a bank savings account that earns next to nothing in interest. I can't help but think there has to be a better way to invest their money for their future and earn a better return than the less the 1% they're earning now. We've considered CDs and other conventional investment instruments, but the rates are so insanely low that we find it difficult to justify committing the money for the kind of time periods that most of those instruments require. So what to do? Maybe buy a nice air cooled Porsche 911 before they boom. Or a cheap Ferrari?
So what do y'all think?
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