Menu
Forums
New posts
Search forums
What's new
New posts
New media
New media comments
New profile posts
Latest activity
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Forums
Cattle Boards
Cattle Sales
Making money in cattle!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Help Support CattleToday:
Message
<blockquote data-quote="Warren Allison" data-source="post: 1786232" data-attributes="member: 40587"><p>It is exactly the same. Cows, social media sites, widgets...you do not risk your money speculating on widgets. It is like gambling. anyone who is not a fool, takes a certain amount tot he casino. Say you want to limit your spending for the weekend to $1000. So, you get $100k worth of chips to bet with. Black jack, roulette, poker, what ever. Put then in your <em>left </em>pocket and pull them out to place a bet. While you play, anything you win....those chips go in your <em>right</em> pocket and do NOT come back out. Ever. When that $1k is gone, you walk away...don't care if you have $50k in winnings, you NEVER pull it out and gamble with it. The most you can lose is $1k. </p><p></p><p>Same thing. You put up $1k, $10k, whatever amount, to start Widgets, INC. an S -corp. Inome from S corps [asses through to the stock holders. My S corps all have 1 stock holder that owns 100% of the shares. Whatever profit the S corp makes each year, transfers to Warren Allison. If that Corp needs money...for expansion, capital ..whatever, you do NOT pull your money out and put it back in the S corp. You borrow what you need. and never put the money you have made at risk.</p></blockquote><p></p>
[QUOTE="Warren Allison, post: 1786232, member: 40587"] It is exactly the same. Cows, social media sites, widgets...you do not risk your money speculating on widgets. It is like gambling. anyone who is not a fool, takes a certain amount tot he casino. Say you want to limit your spending for the weekend to $1000. So, you get $100k worth of chips to bet with. Black jack, roulette, poker, what ever. Put then in your [I]left [/I]pocket and pull them out to place a bet. While you play, anything you win....those chips go in your [I]right[/I] pocket and do NOT come back out. Ever. When that $1k is gone, you walk away...don't care if you have $50k in winnings, you NEVER pull it out and gamble with it. The most you can lose is $1k. Same thing. You put up $1k, $10k, whatever amount, to start Widgets, INC. an S -corp. Inome from S corps [asses through to the stock holders. My S corps all have 1 stock holder that owns 100% of the shares. Whatever profit the S corp makes each year, transfers to Warren Allison. If that Corp needs money...for expansion, capital ..whatever, you do NOT pull your money out and put it back in the S corp. You borrow what you need. and never put the money you have made at risk. [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Cattle Boards
Cattle Sales
Making money in cattle!
Top