[Help please] I need to convince my parents not to return my Code3 AT-ST

The idea that someone in college should really be all that concerned about retirement is ridiculous. CDs right now are getting a horrible return for the fact that the money is locked into a completely non-liquid investment. IRAs aren't providing much return right now either, and because you are too young, you will get no tax credit for the investment. Savings accounts are also not getting much of a return at all because the federal reserve interest rate is so low right now. As was stated above, buying something for lower than the going market price automatically has positive equity (worth more than you paid). Buying artwork (ie paintings) is a good investment if it is an original, or even a low number lithograph, this is a similar situation, you get to enjoy the item visually as well as the fact that it is worth more than your cost. And buying stock or mutual funds is very risky right now, what looks good today can be garbage next month and if you have to liquidate, you will likely not get your money back.

As for examples of items getting good returns, I spent less than $20 for a Legends in 3D Boba Fett bust and it is going for more than $100 on the secondary market and that is with a turn-around time of less than 5 years. I spent $15 for a Michael Vick autographed rookie card and it is selling now for more than 5 times what I paid.

 

[image=http://www.jedinet.com/multimedia/cpg132/albums/Original_Trilogy/Characters/Obi-Wan_Kenobi/kenobi_011.jpg]

"You don't need to see his Code-3 return receipt."

 

Sorry to hear about your situation, here are a few thoughts,

-Can you make a balance sheet to show your parents where your money is going? If you can, show that all your money is not being spent on star wars. My dad is also not to fond of the collection, but when we save money as well, he is alot more tolerable.

-I used to think of collecting star wars as an investment. But then i realized that my collection is worth alot less on ebay, then what i paid at retail for it. So now when my brother and I buy stuff, we refuse to buy stuff for any other reason than for the joy of the collecting.

-Final point. A retirement savings plan started early makes a hugh difference. that $270 invested now could be worth $5,946 when you are 65. If invest 270 dollars when you are 35 it would only be worth $1,943. Now think if you saved larger sums. That is the beauty of compound interest. Those who understand interest receive it, those who don't pay it. 65http://www.finance.cch.com/sohoApplets/InvestmentReturn.asp

Sorry for the econ lesson, I realize that life before 65 needs to be fun, but i don't want to be stuck in a state run nursing home, or be a parasite on my kids when I retire.

 

Your parents sound a lot like mine, AdmiralJello. If I spend my work money on something they don't agree with, they'll occasionally confiscate it. Especially certain clothes and a few other things. And I'm 21. Being dependent isn't cool, but neither is a lot of the things my parents do. I'll probably go my own way sometime this year, though my Star Wars collection will have to remain with them for the most part.

If it were my parents I would argue that I'm an adult and that I worked and I made the money. I'd tell them that they should be proud I'm investing in a nice collectible, when I could be buying alchohol or drugs. I'd also let them know that I'd take back the Code 3 when they returned every single higher end electronics, jewelry, and other belongings that they own. I'm not telling you to do this, it's just what I would do. Good luch in any case.

 

You've just got to find a way to let them know that it has intrinsic value to you...
you are, after all, your own person!
good luck!

 

Sucks for you. my parents were the same way. I had to get married and move out before they'd keep their noses outta how i spend my money. I can see where they were justified in some ways though, I was a 22 year old kid, working a system engineer job making more money than any 22 year old needs, not having to pay rent and instead buying toys. I did clean my room though.

 

My advice is this. Buy whatever you want. Be it for immediate gratification or future investment potential. Spend it all. You, like any of us, could be dead tommorow. And you can't take it with you. Enjoy it. Enjoy it all. Especially while you are living with the 'rents. The future is promised to no one. And if it the future does come. Deal with it then. Thats what I do. And don't use the "IT'S MY MONEY!!" argument. That reeks of immaturity and lack of thinking. Come up with something a bit less whiny. What? I don't know.

 

If they read your mail. i threaten to sue. hehehehe. Plus tell them to shove it. but thats just me. i sort of had the same problem after i got married critized evrything i boughtand this and that but you will always get that proberly because they are your parents. I had to basicclly tell my mother to stick it sopme times. Still do when moneys involved. but thats me.