New Tractor Sales Are Declining

[rScotty]

Define retirement.

Doing the same things we've always done - but without the time pressure or the need for profit. Just breaking even will do fine.

 

[Yander]

I already posted my "retirement" plans on here. They involve my grandkids if they choose to be part of it.

Building my equipment inventory up.

 

[Torvy]

I'm retiring in 2 months. What it means to me is that I will only be working on my farm for my family. We don't need to make a profit. It is a labor of love. It also means I can work when I feel like working and on what I want to work. (Most of the time)

 

[two_bit_score]

Define retirement.

The option to say “No”.

 

[cathy liebchen]

Regardless, you take the loan or pay cash. But there is no significant cost reduction for cash.

We always get a lower price paying cash, usually making the 0% keep your money invested a wash

 

[cathy liebchen]

If you have your money in a 4% interest earning MM account, then 3.9% isn’t too bad.

But that 4% is taxed as ordinary income

 

[Hay Dude]

But that 4% is taxed as ordinary income

Better than .5%

 

[Hay Dude]

This is EXACTLY the response I'd expect from the people on these boards whom I admire.

Your enthusiasm is infectious, which is one of the reasons I enjoy logging on here.

Thanks friend.
I’m not going down without a fight.
I just lost my MIL on Wednesday. She laid in bed and suffered for years with dementia. I‘ve seen some horrific stuff in my life, but that was the worst.

I hope to be found in a field, doing what I love best. Retirement kills a lot of people.

 

[Hay Dude]

Just watched a 2 year old M6-111 with loader and a bit over 200hrs sell for $60K at auction.

Too small for me, but I know what you mean.
I looked at a few M7-151’s and some other brands, but theres a wave of M7’s coming off a leasing program Kubby ran about 4 years ago coming home to roost.
Thet are asking 79-95 for them. Most have 1000-3000 hrs.

 

[Hay Dude]

LLC is a Limited Liability Company. Not a Corporation. We currently have one for the farm and I've been part of an S-Corp as well. One of my banking jobs was processing small business loans and dealing with all types of entities. There are significant legal and tax differences among the different types of entities.

LLC are taxed as individuals (you file schedules on your personal return). Any business can offset income with the lease expenses. Of course, you can also deduct the depreciation on a purchase.

I have a C-corp and an LLC.