My spouse thought I was nuts for "investing" in Lego, but they have come around since I bought them this with some of the profits...

[Huskers1236]

My wife's biggest complaint is that I don't share the profits with her.  I tell her the money being made and I get the "well it's not helping me any!"  line.  Household money isn't being used to fund this so it doesn't get the payoff, yet.  Someday I'll take them all on a trip or pay off the house or something big when I cash out of this, but for now, most gets reinvested and some goes to sets to build.

[Thumper]

The SO (significant other) of the household became just fine with the hords of Lego everywhere... once the "hobby" paid off the new Kubota & of course it's always an essential part of tax time each year now-a-days! :-)

[Achilles]

For the time being, I reinvest most of the returns - But I will sometimes accrue and use rewards points for home purchases, since typically they can't be used with coupons and aren't actual spending money so don't count as a business expense. A new Fridge is the next big thing in the works. It won't cover it all, but will be a big chunk and she is pleased about that.

 

[Ciglione]

​Ah yes. Nothing like an unexpected financial backlash.

I hit one of those back in Jan. Put a total freeze on the LEGO investments for 3 1/2 months. (I was really tempted to put in an equation for you Ciglione.)

My wife sees and knows the profit possibilities. The only issue is that she expects me to make high margins all the time. "Why are you selling that less than msrp!"

B/c she's gotten a taste of "what profits are possible" its almost like she's been spoiled and expects those same high margins all the time.

There is a mix of reinvestment for me. Some money spent on sets goes back into checking after sales and others stay in paypal for future investments.

​Well... thank you Sir!

Unfortunately with this backlash even your equation will not do the trick. Or it has to be a creative equation instead of a theoretical one.

[jaxman]

Sorry to be the accountant in the group.  Are we using the term "profit" and "sales" interchangeably?  Or are people separating out the profit from their sales and using that for the fun stuff and reinvesting the cost? 

[jaisonline]

My wife's biggest complaint is that I don't share the profits with her.  I tell her the money being made and I get the "well it's not helping me any!"  line.  Household money isn't being used to fund this so it doesn't get the payoff, yet.  Someday I'll take them all on a trip or pay off the house or something big when I cash out of this, but for now, most gets reinvested and some goes to sets to build.

​

you should have given her the 10181 ET    if she likes handbags, you can't go wrong with the larger LV Neverfull bag.  i don't think even dept stores carry them (no pun).  if she's into shoes, christian louboutin and tory burch usualy work    then add on top of that vacation! 
 

[jaisonline]

Sorry to be the accountant in the group.  Are we using the term "profit" and "sales" interchangeably?  Or are people separating out the profit from their sales and using that for the fun stuff and reinvesting the cost? 

​

it doesn't matter with most spouses.  rev or profit...   leave that to accountants and irs.

[Huskers1236]

Sorry to be the accountant in the group.  Are we using the term "profit" and "sales" interchangeably?  Or are people separating out the profit from their sales and using that for the fun stuff and reinvesting the cost? 

​I'm using sales/profit interchangeably at this point.  I know that I made $xx amount on a set that was sold and can use that towards something else.  Until a guy clears out, he never really know how much "profit" he has.  It's all on paper at this point.  I keep track yearly my profit, but it's not like I take that portion out and spend it, it's all reinvested for the most part. 

​

you should have given her the 10181 ET    if she likes handbags, you can't go wrong with the larger LV Neverfull bag.  i don't think even dept stores carry them (no pun).  if she's into shoes, christian louboutin and tory burch usualy work    then add on top of that vacation! 
 

​Funny enough, I think my mother-in-law likes the 10181 the most.  It's just massive compared to Taj Mahal, but I don't have room to display them both at once, unfortunately.  Wife is a handbag freak, and I have bought her bags in the past, but she's so picky I let her do that herself.  I'd hate to spend 100s on a bag that she turns around and says "isn't her color" or some crap like that.  She's not a shoe person, she buys crappy cheap ones and then complains they fall apart, can't win.

[CrabslayerT]

I know this isn't exactly to do with the Topic, but I do know what I'm saving for; a VW mk1 Golf, one to work on and mod myself. I think they're gonna end up like the original Beetles and campers.  Plus, I think they're a cool car!

 

Edited June 11, 2015 by CrabslayerT

[jaisonline]

if it's for the wife or family and paid for with Lego profits, you'll be on-topic.  so after it's purchased, post a picture.

 

I know this isn't exactly to do with the Topic, but I do know what I'm saving for; a VW mk1 Golf, one to work on and mod myself. I think they're gonna end up like the original Beetles and campers.  Plus, I think they're a cool car!

 

​

[oneknightr]

Here’s my situation: I use the profits and reinvest in more Lego or buy stuff that I really want (to keep) without feeling bad. I collect Lego and Star Wars prop replicas. I call it my self-funding hobby. My wife despises me for calling it that. It’s because I borrow money interest free from our account to make the initial purchases. We have a chunk of our money sitting in an interest free checking account that accrues very little interest, so I take from that and repay here and there. Right now, my tab sits at $4000 but I have about $10K+ in inventory (entire collection, Lego and SW prop replicas), so on paper, I’m in the black. But my wife doesn’t see it that way. She says she won’t until I’ve paid back what I’ve borrowed. I have a tough time selling stuff as I have the mindset of holding sets just a little longer to obtain more profits. My tab fluctuates between $2000-$8000 but I’ve never paid it down to zero yet. When my tab gets too high, I sell sets that I think have hit a ceiling or slowed growth first. Sometimes I make the tough decision to let go of high-priced sets to bring my tab down faster, which I later regret (sealed UCS Falcon $3200, loose Grand Carousel $600, loose Eiffel Tower $600). Long story short, I haven’t bought anything for my wife or family with my profits, outside of the occasional Lego set for my kids, so I think that may contribute to her feeling about my hobby. But I have a feeling that even if I do buy something for her, she’s going to ask if I paid down my tab yet.

 

[BrickLegacy]

My wife will be staying home this Fall, leaving a 10+ year career of teaching.  This was a difficult decision that we've postponed for a couple years while we pay down debt on credit cards and vehicles.  

One factor in the decision was the supplemental LEGO income.  It won't match her salary, but she can now hang out with my 4yr old son, run the kids around, enjoy a longer summer, take a vacation during the school year, and just relax a little bit more while we raise 3 children.  Her last paycheck is in August.  A few months after that is when the holiday shopping season begins and I'll begin to sell some of our riper sets. I can't wait to sell my first SSD and drop that Paypal balance into our account.  

She still gets frustrated when new boxes arrive on the porch and empty boxes and shipping materials fill her office space downstairs.  I can't blame her for that.  We have boxes and shipping supplies everywhere!  I try to keep it out of the way most of the time.  She understands that most of it is necessary for us to achieve our financial goals, so she is pretty patient with me. 

Brickpicker has helped change our life...and now I can't wait for the holiday selling season to get here!

 

Disclaimer: if you are new to Brickpicker, reselling, or LEGO investing please don't read this as a get-rich-quick success story. It is anything but that.  There is more to the story than LEGO.  In fact, LEGO is only part of the reason we are able to make this decision.

 

[Huskers1236]

My wife will be staying home this Fall, leaving a 10+ year career of teaching.  This was a difficult decision that we've postponed for a couple years while we pay down debt on credit cards and vehicles.  

One factor in the decision was the supplemental LEGO income.  It won't match her salary, but she can now hang out with my 4yr old son, run the kids around, enjoy a longer summer, take a vacation during the school year, and just relax a little bit more while we raise 3 children.  Her last paycheck is in August.  A few months after that is when the holiday shopping season begins and I'll begin to sell some of our riper sets. I can't wait to sell my first SSD and drop that Paypal balance into our account.  

She still gets frustrated when new boxes arrive on the porch and empty boxes and shipping materials fill her office space downstairs.  I can't blame her for that.  We have boxes and shipping supplies everywhere!  I try to keep it out of the way most of the time.  She understands that most of it is necessary for us to achieve our financial goals, so she is pretty patient with me. 

Brickpicker has helped change our life...and now I can't wait for the holiday selling season to get here!

 

Disclaimer: if you are new to Brickpicker, reselling, or LEGO investing please don't read this as a get-rich-quick success story. It is anything but that.  There is more to the story than LEGO.  In fact, LEGO is only part of the reason we are able to make this decision.

 

​If my wife could quit her job because of my Lego hobby, she'd be eternally grateful and I'd never hear a peep out of her again. 

[Ciglione]

​If my wife could quit her job because of my Lego hobby, she'd be eternally grateful and I'd never hear a peep out of her again. 

​I think I would send my wife to find a job and I would quit my job.

[El Guapo]

 

Awesome terry.   Most awesome, indeed.   Your post clearly shows that with patience, smart buying and some luck (the hard work is a given), Lego investing does pay off.

i usually reinvest my Lego profits but finally able / willing to pull the trigger on a watch I've wanted for 10 years.  Instead of dipping into the savings account, Lego came to the rescue.  It was purchased pre-owned and was only 5 months old.

 

 

​Which minifigure is included with that watch?

 

For me, I usually reinvest, but sometimes I buy things I wouldn't normally purchase: so far I have been to the Stones tickets, Rush tickets, Stanley Cup Finals, and Game 7 of the World Series (this last one was from selling other things on Ebay).  Some other things I have bought: Revenge of the Jedi movie poster, my Pirate costume for the Ren Fairre (nerd alert), and tons of cool toys for the kids.

[jmdt]

I'm still pretty new to this (started just under a year ago) and I was thrilled when a good number of the sets I have became officially "retired" recently. At this point there is very little return because I have sold so little. I am waiting for what I have to appreciate more before selling it. My husband doesn't love that parts of our house has become a "warehouse" while my kids are thrilled with its abundance. I reassure my husband that some of these sets will disappear around Christmas (and as our kids build some of them). My plan at this time is to reinvest what I make back into lego or into buying sets that I enjoy

[Sauromosis]

Nice thread.  A year ago I had a new patio poured out back and gave my wife a very nice diamond ring from Lego and "non-Lego" profit.  It helped a lot with the complaining.  

[Huskers1236]

​I think I would send my wife to find a job and I would quit my job.

​That would get more complaints than I get now, though I think I could find peace with it.

[hendrikdejager]

Not that big of a "fun" story but the biggest thing i bought from the Lego profits is a Seiko Sportura Watch

Edited June 11, 2015 by hendrikdejager

[CNH1974]

One thing good about doing this is that there is alway some money my PayPal account ( unless I accidently get carried away on bulk lots or transfer too much out ). 

So life's little luxuries or treat, from ebay at least, do not cost real money. 

Like this:

http://www.ebay.co.uk/itm/Terry-Pratchett-Discworlds-Ankh-Morpork-City-Watch-Diary-1999-/141685061302?pt=LH_DefaultDomain_3&hash=item20fd1676b6

and it should appreciate.

[sydbricks]

I sold all my collections (~100 Jordan shoes) with a nice profit and reinvest all in Lego Modular sets. Wife is happy with my decision. 

I even sold those J shoes I bought for her. She's totally cool with it. 

[Grolim]

All my profits either get re-invested or go towards sets or pieces for personal use.  The investments are growing though, so the ability to cash out and use that money somewhere else is always there (though not simple to liquidate). My wife complains a bit as we never "see" any of the profits, that's ok though as I quickly distract her with something else to complain about

 

[odysea11]

 I quickly distract her with something else to complain about

 

​That is the post of the day right there!! There is never a shortage of things to complain about! Love it Grolim!!

[Bold-Arrow]

 

Title Read: My spouse thought I was nuts for "investing" in Lego, but they have come around since I bought them this with some of the profits...

Ahem......care to elaborate???

On a serious note : nicely done

[meowingthings]

Generally each month my mortgage is paid for by reselling ($765). Only about a third of that is Lego however. I flip the Legos far to fast to be able to take advantage of significant gains. My wife is fine with random piles of random games & toys around the house and she even packs and ships about half the merchandise to Amazon. That all being said, if it didn't cover $750 a month in household expenses, I or the toys would be out the door asap.