Invest in stock or new tools?

Hello, I am at a crossroads. I have two major purchases coming up.1. Machinist tools. (Taps, dies, sockets and wrench’s. I already have a lathe and milling machine.)
2. Electronics Workbench. (Power supply, Function generator, other tools.)

But, I got to thinking, would this be better spent on buying stocks to improve dividends? I work in fast food and am getting called into work all the time. When I am not at work, I am helping my dad with the farm, so buying new tools seems like they would go to waste. On the other hand, I can’t do the more complex stuff without the tools.

Thank you for the replies.

How big is your emergency fund? What to do with excess?

Good morning,

After reading quite a bit on investing here and jcollins I’ve convinced my wife to scrap our FA and open vanguard accounts for our IRA’s. I also wanted to supplement that with some of the $35k sitting in checking accounts getting 2-3% interest, but she is not comfortable with going that route just yet. With that said our combined income is ~$67k a year and we are expecting our first child next January. I know babies are expensive as are hospital bills, however, with my wife’s job we have a $500 annual deductible and because we used to take insurance through my employer we have about $6k in an HSA that will be used for that deductible for many years to come.

My question comes in since I cannot convince her to invest, how much should I keep around as an emergency fund? I think the next best option to investing would paying down or mortgage faster. We currently have ~$96k in principal @4.5%. We are also considering refinancing but I just don’t know if it’s worth it, we could probably get down to ~3.65 which would save us about $70 a month so break even would be about 2 years down the road.

I’m curious to hear what those with a more senior mustache would do!