Scrap metal retirement

[beenthere]

question of whether it's appropriate for the auction notice to appear in the same edition as the obituary

Better than the week before.... ;D

[Mooseherder]

After my old time logger neighbour passed on, his widow was able to sell over $80k worth of scrap metal of the property. Now whenever I drag another piece of old iron home, I like to say to my bride, I'm providing for your future! ;D

And this brings up of the question of whether it's appropriate for the auction notice to appear in the same edition as the obituary  ;D

Heck, why waste a good opportunity while you have everyone's attention. ;D

[loggah]

The "JUNKIES" will have a field day with my wife if i kick off suddenly !!!! ;D ;D Thats just a bit of the "OLD IRON" i got laying around!!  Don

[justallan1]

I'd definately keep it if you have the room. I find all sorts of peices for whatver my latest projects happens to be and the rest will be there to sell when you decide to or need to. I figure that I'd just waste the money anyway, so I may as well wait until I need it.
Allan

[ely]

thats some cool stuff don, now i have "inventory envy"
i have a fair amount of cool stuff myself, also have a cool wife....so far ;D

[Al_Smith]

If you hid the treasures in the woods nobody sees it .Of course if you have no woods to hid it in then it becomes a problem some what .

Now I have tonnage but it's no where near 200 .

[gspren]

  Whatever you do with the scrap keep on putting as much as you can in the 401K plan, the tax advantage while you are working is far more important than the interest!

[gunman63]

scrap is always a good retirement plan, but things to remember about it, first u could  die before u  get to use it. but mainly, scrap is a up and  down  market, u need to play it, watch the prices, copper and alum and  brass go up and  down as does  iron.  if u watch the  market u can sell high,   hide the money, or reinvest it  in more  scrap, a pile of  100's takes up a lot  less room  then a mountain of iron.

[hackberry jake]

If you would,ve taken that stack of hundreds ( say $12,000). 30 years ago it wouldve bought a new full size chevy. If you would,ve just burried it and dug it up today, you would need another $24,000 to buy a new Chevy. If you wouldve used the $12,000 to buy scrap metal 30 years ago, today you would be able to sell it and buy two new chevy trucks. Just an example of why cash isnt your friend.

[red oaks lumber]

you can do how ever you would like.the thing when you talk to investment people i've never had one even mention that buying scrap is a  retirement option.

[Al_Smith]

Oh there's people who made a ton of money in the scrap business but their family has been in the biz for generations .

I'll tell you this you're not going to beat them in a game they invented .

[gunman63]

If you would,ve taken that stack of hundreds ( say $12,000). 30 years ago it wouldve bought a new full size chevy. If you would,ve just burried it and dug it up today, you would need another $24,000 to buy a new Chevy. If you wouldve used the $12,000 to buy scrap metal 30 years ago, today you would be able to sell it and buy two new chevy trucks. Just an example of why cash isnt your friend.

If u  hid 12 grand 30 years back, u still have 12 grand, if u  bought a 12 grand  pickup 30 years ago, u  mite have scrap now $200 worth

[hackberry jake]

If you would,ve taken that stack of hundreds ( say $12,000). 30 years ago it wouldve bought a new full size chevy. If you would,ve just burried it and dug it up today, you would need another $24,000 to buy a new Chevy. If you wouldve used the $12,000 to buy scrap metal 30 years ago, today you would be able to sell it and buy two new chevy trucks. Just an example of why cash isnt your friend.

If u  hid 12 grand 30 years back, u still have 12 grand, if u  bought a 12 grand  pickup 30 years ago, u  mite have scrap now $200 worth

I said a Chevy truck, not ford   ;D

[trim4u2nv]

There was an old buzzard south of us who collected earthmoving equipment and dug a pond.  Was filling the pond after putting in a liner and promptly croaked.  His kids sold most of the machines and draglines.  This totalled around $400k and the wooded lot with pond went for more.   This guys woods looked like a hoarders episode though.  There is talk of mining some of the landfills here for scrap also.

[Jemclimber]

I said a Chevy truck, not ford   ;D

That really made me laugh...

[wwsjr]

I will find out what scrap prices are in the near future. With the shop and sawmill fire along with other junk, I have a 16' trailer load already and probably will have at least one more trailer load plus the LT40 Super sawmill with Cat engine. It is going to be gone whatever the price. I do not have room to store for the future.

[terry f]

     With that 12,000 put in the DOW 30 years ago (around 1200), you could buy a house today. I would lose more sleep in the metals market, than the stock market. Loggah, your junk (treasures) amaze me.

[Al_Smith]

Conventional wisdom with the stock market,long term is around 11-12 percent per year .If you don't have the nerve to weather the ups and downs don't go there .

Scrap can go up and down too so don't try to corner the market on rusty fence wire thinking you're going to turn it to gold .Now free,that's another story . ;)

[loggah]

scrap silver is the way to go !!! i buy some every now and then ,local machine shop uses a bunch of coin silver,sometimes they bring a bunch of turnings into the junkyard i buy some up and then resell them when the market  is up , sometimes silver goes up 30-40% in 6 months, you have to watch the market . Don

[never finished]

  The guy I work for doing demolition work burries all the scrap copper out behind the shop, for his retirement. We only bring in the bigger stuff. Probley over 2 ton of it by now. It keeps the theives out of it, and if it's not turned into cash it can't be spent. Or taxed.   

[saltydog]

Asking the wife if its ok to bring home junk? I dont ask i sneak. Besides men are the head of the house!We do what we want when we want. 

[Slabs]

Let's properly describe it.  It's a spare parts repository.  Not a junk or scrap pile.
It's also a good place to get ideas on how to fix something.  Gerald

Ahhhh!  You subscribed to Farm Journal back in the 60's too.  I remember Hutch and Ada.

 

[coxy]

slabs        thats funny :D :D

[muddstopper]

I have my own take on scrap laying around the house. Of course my wife doesnt agree with me on this one.
I will hual in a large piece of metal, flat plate, tubing, angle or whaever, If I run across it. This material will eventually get used in one project or the other. Being able to use it without having to buy it is probably a bigger return than saving it until I retire.

Now when it comes to old equipment, I love the stuff. I never go searching for it, but I wont pass it by without a least a look see if I run across something. My cryteria for buying a piece of equipment is 1. I must be able to use it , or at least parts of it, right away. 2. The price I pay for it cant exceed the cost of the salvaged parts I intend to use. And 3. If I see its at a real bargain price and I can flip it pretty easy and put a few untaxed dollars in my pocket, then that thing is going home with me.

Like my wife, i dont like seeing piles of junk laying around the house, good scrap is stacked in piles. Stuff that is to short, bent up, or rusted past worth, I make a small pile and when it gets big enough, it goes straight to the scrap yard. Of couse I usually bring home more than I take, but thats a whole nother story.

[GAB]

Dear Slabs:
No I did not subscribe as I was too young, however my dad did.  The Farm Journal, Successful Farming, and Hoards Dairyman were great library material.  Thanks for posting that old cartoon.  I was young back then, but that is the one I was thinking of when I wrote what I did.  It must have gotten your attention also.  Gerald