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(Topic ID: 184055)

How do you fund your collection?


By too-many-pins

3 years ago



Topic Stats

  • 114 posts
  • 85 Pinsiders participating
  • Latest reply 3 years ago by Wyopinball
  • Topic is favorited by 2 Pinsiders

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    There are 114 posts in this topic. You are on page 2 of 3.
    #51 3 years ago

    No wife, no kids, no debt, reasonable rent, lots of overtime over the years. I typically buy project machines of varying degrees and fix them myself. Also saving money for a home loan in the future at the same time. Buy what you can afford and balance things. No huge secret.

    #52 3 years ago

    My credit card was stolen and the thief keeps spending money every month, but I haven't reported it stolen yet because he honestly spends much less than my wife. Oh yea and I still have the same pair of work boots from 1980 but would rather spend $9K on my new Met Prem with every option than buy a new pair of boots.

    #53 3 years ago

    No wife, no kids. 2 empty bedrooms to fill with pinball machines.

    #54 3 years ago

    I said no to drugs. Think of all the money I saved! Those messages on the DMD really helped.

    #55 3 years ago

    The Len Bias story is what kept me away from drugs. Died when I was in college.

    #56 3 years ago

    plasma (resized).jpeg

    Been there three times already this week.

    #57 3 years ago
    Quoted from vid1900:

    If you never get married, and never knock any broads up - you will save, on average, $280,000 per child you don't have to support to the age of 18.
    Then think of the additional savings when they don't move back into the basement, as 58% of them do, after college.....

    Your post just prompted me to look up the Australian statistics. I just discolvered a study done over 4 years ago here in Australia estimated the cost to raise a child to adulthood was $406,000 per child for the typical family. That was 4 years ago. With inflation and other recent cost of living factors, it would now be near $450,000 per child. That is assuming you don't send your child to private school. If so, those figures skyrocket to around $580,000 per child. (And that is not even the prestigious private schools - It is all guess work after that, but it would be a great deal more.)

    Can you believe those figures! Having a 5 year old myself, it is no wonder I can't afford my own pinball collection. I'll just have to content myself with hunting down location machines as often as possible. Maybe one day when I am old and grey.

    #58 3 years ago
    Quoted from vid1900:

    If you never get married, and never knock any broads up - you will save, on average, $280,000 per child you don't have to support to the age of 18.
    Then think of the additional savings when they don't move back into the basement, as 58% of them do, after college.....

    You can teach them to repair your pins and cars etc. so you don't have to when you get older. Plus, if you treat them right and educate them well, they may have a decent career and can buy you some nice things. They might choose a nice nursing home for you and even cover some of the funding shortfall.

    #59 3 years ago
    Quoted from bonzo442:

    I haven't reported it stolen yet because he honestly spends much less than my wife

    I love this...

    #60 3 years ago

    Great topic.

    I have a good job but we only have one income for me, my wife and my 3 year old son. I guess we can afford pinball for a few reasons:
    We have no debt except the mortgage. Having left over money allows us to save. My job pays an annual bonus that we never count on so it's a windfall. I've basically since my sons birth only bought games when the bonus or tax return hits. I love collecting but my son's preschool bill was $6800 for the year so I won't be buying NIB machines anytime soon. I used to work a lot of extra contract software jobs at night but since my son came along I would rather spend quality time with the family than work. I will probably pick up a few when my son is older.

    I've also consciously decided to pare down all other hobbies and only treat myself to pinball stuff, either machines, parts or travel for pinball tournaments.

    #61 3 years ago

    What ever became of the warehouse sale? I've not kept up but recall you were doing something big 2-3 months ago.

    #63 3 years ago

    My worst year with daycare for two kids cost me $18k which is actually quite cheap. If you have kids and have had to use a daycare you know what I'm talking about. I would guess we have spent $100k on daycare or more for two kids. The $280k estimate does not include college. I have about $30k saved for their college funds. That $130k would have bought a lot of toys!

    #64 3 years ago
    Quoted from Astropin:

    Really? Add it up....ALL the food, clothing, medical bills, trips, sports....etc.... Over 18 YEARS it adds up. I would bet $280,000 is a low average. No private schools or Porches either.
    I'm going to feel so rich once the kids are out of college! Except for that damn retirement savings thing.........and taxes.......and medical coverage!

    I know some parents that spend thousands a year on sports alone. I keep things pretty simple and my kids don't ask for much. College is what scares me. I've been saving but it never seems like it will never be enough the way costs go up. Honestly who cares. I wouldn't trade my kids for nothing. I have way more enjoyment with them than any material thing or money in the bank.

    #65 3 years ago

    Work my ass off working 3 jobs, full time Firefighter, on the side of that buy and renovate houses plus part time plasterer (dry wall for you guys in the US)

    #66 3 years ago

    I run liquor across the border

    #67 3 years ago
    Quoted from Skypilot:

    I run liquor across the border

    I stumble it across

    #68 3 years ago

    I'm amazed some of these parents think they have to pay for their kids college. I never expected my parents to do that. Kind of makes sense of Vid's stat on kids coming back home to live with their parents.

    I paid for college for two years and then I decided to find a job because college wasn't helping me decide what I wanted to do.

    Once I had a steady job, pretty soon I was taking on more responsibilities till I was on my own.

    #69 3 years ago

    primary job as a senior cad designer for 33 years 40 hrs a week and a second job at menards for 20 years 15 to 20 hrs a week

    #70 3 years ago
    Quoted from Mark_in_PA:

    What ever became of the warehouse sale? I've not kept up but recall you were doing something big 2-3 months ago.

    Still in the works - the nephew who is handling things lives 700 miles from the machines and is a high school teacher so the only time he can meet me is when there is no school. We were suppose to hook up a second time around the first of the year but I got sick so the next chance he will have is the first week of June. Waiting is driving me out of my mind but I have no choice! We were all set to hook up the end of March (spring break) but last week he emailed and said that wasn't going to work because he had something else he had to take care of for his wife that week. She lives 250 miles from him so it is all a very strange deal but I know all is good. I have done business with him in the past and hooking up is the hardest part!

    #71 3 years ago
    Quoted from Spg101:

    My worst year with daycare for two kids cost me $18k which is actually quite cheap. If you have kids and have had to use a daycare you know what I'm talking about. I would guess we have spent $100k on daycare or more for two kids. The $280k estimate does not include college. I have about $30k saved for their college funds. That $130k would have bought a lot of toys!

    That really opens your eyes to these huge cost numbers to raise a kid. That is why my wife started a home daycare. With kid 1 we took a 50% pay cut for her. With kid 2 we were break even, so kids 3 and 4 were bonuses. Still no money for pins right now though.

    #72 3 years ago

    I am extremely lucky to have a job that I really love that allows me to participate in this hobby.

    #73 3 years ago

    Anyone who does not have kids can't understand how much they cost to raise. I had a coworker who was upset about the child tax credit I get on my refund every year ! Don't get me wrong, I love the kids, my son was playing WoZ with me tonight. We have nightly WoZ offs. Only pin I currently own, but looking for another kids are great no matter how expensive they are!

    #74 3 years ago

    Easy, I have saved and invested for decades, lived well below my means. Now that I'm "retirement age" guess what I'm going to keep working no reason the retire, period. All kids out of house.

    So all the $$$ in the 401k's IRA's etc. I can spend whether buying a few pins, travel, help with kids house dp etc. No way with current income could I buy the games I acquired last few years.

    #75 3 years ago

    Wife bought me my first on retirement! I take a extra $15000. from my stock portfolio,a year, just for this reason!!

    #76 3 years ago
    Quoted from vid1900:

    If you never get married, and never knock any broads up - you will save, on average, $280,000 per child you don't have to support to the age of 18.
    Then think of the additional savings when they don't move back into the basement, as 58% of them do, after college.....

    Pretty spot on.
    I estimate 41% space gain during that period they are out.
    A nice meal and place right under the pins await when they return.

    #77 3 years ago

    I make good coin and I'm not into boats or fancy cars.

    #78 3 years ago

    I use a home equity loan.

    A 5K machine at 4% is $200 for a year in interest. with 25% tax bracket, this is now $150 a year.

    If its NIB, it better be real low, or Ill buy 2nd, 3rd, huo,

    After a length of time, I make a little...lose a little.

    In the end, after 2 years into a Game, I paid $300 in interest, and maybe for sake of discussion, I sell
    for a $300 loss.

    Total is a "Rental Fee" of $25 a month, 2 years, for 5K game.

    If theres room....$25 a month seems so little to enjoy for a couple years!

    #79 3 years ago

    You rock ART!!!

    #80 3 years ago

    I'm Fred Garvin........male prostitute.

    #81 3 years ago

    I make and sell mods for Pinball. That funds most of my machines. I also fix up a few project machines and try to sell them for a very small profit. I stick to B and C games as the A-listers are just not worth it other than whatever your "grail pin" is. I avoid NIB games for the most part. I did also divert some of my retirement savings into pins because I feel like they will still be worth what I paid for them, or more in 10-15 years. Doubt they will go significantly down in value. So I consider them equity. Just make sure you have good homeowners insurance and unplug if there's electrical storms. My pins are a part of my net worth. I don't splurge on vacations - that's money spent that you can never get back.

    #82 3 years ago

    Intertwined resources:

    #1 Avoid chasing the NIB concept. Owners reduce costs by $$$ buying distributor samples, private games, and other sources.
    A lesson that needs to relearned for some, as it also helps moderate price increases.

    #2 Restoring games
    Concept process:
    "Buy-restore-resell-buy"
    Private owners can afford entire collections with patience.

    #3 Time - Most of the largest collectors have been collectors for years, which means planning purchases in advance, but always have money set aside that otherwise would have gone to other pursuits, ready to make a purchase when the time is right, constituting anywhere from $2000-8000 right now, if a person wants a "collector quality" late model game. For EMs and early SS $500-2000.

    #4 Haul games and set them up for others. The effort adds up fast. It is extra income. You make new friends. You get better deals. You find more games.

    #5 Know when to buy and not to buy. Understand the market. Do research. Buy in volume just like dealers and brokers. More games for less money. Refocus efforts on titles that are not "shiny". Do networking. Sometimes you can get still get games for free, if a person is not known as a "flipper". Collectors do each other favors for assistance.
    This is not an optimal period to buy certain types of games right now, as currently we are undergoing, "The Age of Pintards".

    Other methods are unrelated to pinball, but are to related to smart investments, and other supplementary forms that have been earned, not provided. I also raised children, so that was included over the past 30 years.

    #83 3 years ago

    I have bought, fixed, and sold, to own my collection for right around zero dollars. I have a whole excel spreadsheet with every bought and sold price. As well as all parts bought.

    #84 3 years ago

    "Work hard, play hard."

    Next question...

    #85 3 years ago

    Cash.

    #86 3 years ago

    I'm like Smith-Barney. As their spokesman used to say: They earn their money the old fashioned way; they kite checks.

    Screenshot_20170319-105041 (resized).png

    #87 3 years ago
    Quoted from vid1900:

    If you never get married, and never knock any broads up - you will save, on average, $280,000 per child you don't have to support to the age of 18.
    Then think of the additional savings when they don't move back into the basement, as 58% of them do, after college.....

    Very classy and well put , knock broads up ? That must be what happened to you ?

    #88 3 years ago

    Bad things......

    images (resized).jpg

    #89 3 years ago

    I buy non working games from working side jobs in the weekends. My 3 kids and 2 grandkids are expensive. You can kinda tell what my collection looks like, but it's mine.

    #90 3 years ago
    Quoted from jawjaw:

    I've spent way more on pinball than I have on them in the past few years that's for sure.

    Seems pretty backwards to me.

    #91 3 years ago

    I'm paid salary but I can collect overtime if I work extra. I can work from home so if there are big projects I need to complete I'll work on a weekend while watching some movies or football/baseball, whatever's in season. Since we budget off my salary any overtime is my pinball money.

    #92 3 years ago

    I do music production for artists and bands on the side (I have a full-time job), which completely funds my hobby.

    #93 3 years ago

    Go to work and just go day to day with a smile on my face!

    IMG_1196 (resized).JPG

    #94 3 years ago

    Achieved most games through hard work and sacrifices. Sometimes I view pinball games as Investments. This is not always typically the case. A lot of trades happened too. I remember one month I believe I spent $26,000 on pinball machines. Have to love the hobby to put that kind of money into it. Right now I'm barely scraping to come up with a few hundred extra dollars to complete a purchase on a Rob Zombie spookshow International. This money will likely come from selling pinball machines in which I have lost interest. Many possibilities can be open to you ...... just work a little harder!

    #95 3 years ago

    Fortunately, I've gotten to a point now that my hobby is essentially self-sustaining. Between pins and vids, I'm out of room in my two dedicated game rooms, so if I want a new game, something has to go (sometimes several). I've also had some pretty good fortune with bulk buys, doing minor fixes, and selling at a profit. Of all the games I've owned over the years (probably close to 100), I think I've only lost money on two.

    #96 3 years ago

    With what I call crazy money.

    #97 3 years ago
    Quoted from Lord_of_the_pins:

    Very classy and well put , knock broads up ? That must be what happened to you ?

    Hell no.

    Like I was telling my teenage nephew a few weeks ago - never leave a loaded condom in the trash at your girl's house. Always tie it in a knot and take it with you.

    Broads will pour that jizz inside of them the moment you are out the door. They are only pretending to sleep so you will hurry up and sneak out.

    #98 3 years ago
    Quoted from 0geist0:

    Want to adopt me?
    I don't eat much and I'm housebroken.

    Haha! I should also say that I am spoiled by my wealthy parents. I already have 5 kids in my house. Perhaps you should look to the next generation up? It was a "very funny" joke that my parents paid my friends to hang out with me (perpetuated by both).

    #99 3 years ago
    Quoted from vid1900:

    Hell no.
    Like I was telling my teenage nephew a few weeks ago - never leave a loaded condom in the trash at your girl's house. Always tie it in a knot and take it with you.
    Broads will pour that jizz inside of them the moment you are out the door. They are only pretending to sleep so you will hurry up and sneak out.

    There is simpler solution, if someone decides to stay with someone.
    Get fixed.
    Test regularly.

    #100 3 years ago
    Quoted from xTheBlackKnightx:

    There is simpler solution, if someone decides to stay with someone.
    Get fixed.

    You've got to think these things through.

    If you get fixed, you lose $1100 a month in sperm bank money.

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