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Forums10
Topics38,469
Posts545,143
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Most Online1,319
Apr 27th, 2024
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Joined: Oct 2010
Posts: 565
Sidelock
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Sidelock
Joined: Oct 2010
Posts: 565 |
Never pay interest on anything but a mortgage for a house...and pay as much of that down, as soon as you can.
Never buy a new car.
Never lease a car.
We subscribed to the book "The wealthy barber" and have done very well.
Life is too short to have a 'hate on' for so many things or people. Isn't it?
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Joined: Jan 2002
Posts: 13,149 Likes: 1147
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 13,149 Likes: 1147 |
Never pay interest on anything but a mortgage for a house... Never say never. There are always exceptions. In 1989 I signed a note to buy 526 acres of land for $316/acre at 3% for 30 years. It is now worth $2500/acre for the non-irrigated acres, and $4000/acre for the irrigated. According to you I was wrong ............ Nah, I don't think so. SRH
May God bless America and those who defend her.
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Joined: Mar 2011
Posts: 2,982 Likes: 106
Sidelock
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Sidelock
Joined: Mar 2011
Posts: 2,982 Likes: 106 |
Farmland was my best investment too Stan. One perk is the money is tied up in land where I cant get my hands on it. RE retirement, Im 61 years old and dont see retirement in my future anytime soon. I like my job and have no desire to quit. Im hoping to work well into my 70s if I live that long. 
Socialism is almost the worst.
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Joined: Nov 2006
Posts: 3,436 Likes: 34
Sidelock
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Sidelock
Joined: Nov 2006
Posts: 3,436 Likes: 34 |
Stan, I was at a party last summer with a bunch of old farmboys (mostly in their 60's now) from the Imperial Valley in So Cal. A couple of people in the room were real estate brokers and the conversation turned to land values. Turns out land with water rights in the valley is worth $15-$25,000 per acre now. And a lot of them don't farm any more because they can make more selling their water, with zero risk.
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Joined: Oct 2010
Posts: 565
Sidelock
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Sidelock
Joined: Oct 2010
Posts: 565 |
Never pay interest on anything but a mortgage for a house... Never say never. There are always exceptions. In 1989 I signed a note to buy 526 acres of land for $316/acre at 3% for 30 years. It is now worth $2500/acre for the non-irrigated acres, and $4000/acre for the irrigated. According to you I was wrong ............ Nah, I don't think so. SRH To clarify, or some land...lol 3% was a pretty good rate in 89...I was paying 11% for our first house back then.
Life is too short to have a 'hate on' for so many things or people. Isn't it?
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Joined: Jan 2002
Posts: 13,149 Likes: 1147
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 13,149 Likes: 1147 |
I do agree with those basic principles, dal, though I haven't always followed them.
Best, SRH
May God bless America and those who defend her.
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Joined: Oct 2010
Posts: 565
Sidelock
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Sidelock
Joined: Oct 2010
Posts: 565 |
"though I haven't always followed them."
Best, SRH [/quote]
I would agree. If I have the cash to pay for a new car, and the loan rate is 1% for 60 months, and I'm making 3% in the bank, I'm netting 2% by keeping the cash in my bank and not theirs. Eating my cake and having it too, though many don't have that option.
Life is too short to have a 'hate on' for so many things or people. Isn't it?
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