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Non-Cattle Specific Topics
Every Thing Else Board
How mush cash?
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<blockquote data-quote="John SD" data-source="post: 1248316" data-attributes="member: 14713"><p>I listen to Dave Ramsey, and I do agree with his "save up and pay cash" philosophy. I take exception to his absolute "no borrowed money" rule as there are things like land a farmer/rancher most likely can't afford to pay cash when the right opportunity presents itself. But you have to weigh those situations carefully on their own merits.</p><p></p><p>My basic rule of thumb is I invest everything I can long term 5 yrs or more in the stock market. Put the money in the bank in savings and CDs if I think I might need it in 5 yrs or less.</p><p></p><p>I did buy a new tractor on 0%/5yr financing. Also bought a new rake, but paid cash. Both the tractor and rake enable me to keep working summers in the hayfield, when my health otherwise would have forced me to quit. I don't have any livestock anymore myself, so I sell the hay as a cash crop. Got a good neighbor who helps me for a share of the hay.</p></blockquote><p></p>
[QUOTE="John SD, post: 1248316, member: 14713"] I listen to Dave Ramsey, and I do agree with his "save up and pay cash" philosophy. I take exception to his absolute "no borrowed money" rule as there are things like land a farmer/rancher most likely can't afford to pay cash when the right opportunity presents itself. But you have to weigh those situations carefully on their own merits. My basic rule of thumb is I invest everything I can long term 5 yrs or more in the stock market. Put the money in the bank in savings and CDs if I think I might need it in 5 yrs or less. I did buy a new tractor on 0%/5yr financing. Also bought a new rake, but paid cash. Both the tractor and rake enable me to keep working summers in the hayfield, when my health otherwise would have forced me to quit. I don't have any livestock anymore myself, so I sell the hay as a cash crop. Got a good neighbor who helps me for a share of the hay. [/QUOTE]
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How mush cash?
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