New Tractor Sales Are Declining

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   / New Tractor Sales Are Declining #1,651  
IMHO I do believe that after tax time and the weeds
begin to grow tractor sales will rise. Usually people
wait until after tax time to purchase any big items.

willy
 
   / New Tractor Sales Are Declining #1,652  
I purchased my tractor in June 2021 with a loan
for 6 years and next month I hope to pay it off.
I will be saving over $1500 by doing this. I
Purchased the tractor, tiller, brush hog and land
plane, quick hitch and thumb for the backhoe.
SS only paid $250 many many years ago for a
burial and with all the inflation that's happened
in over 20 years SS has raised it to $255! A whole
$5 increase. I feel sorry for people that only have
SS to live on. I don't understand how people can
live on $500 to $800 a month. They almost have
to be complete vegan's unless you get Wally Worlds
box of 32 burgers for approx $25. I was purchasing
distilled water for $1.18 now its $2.24 don't look like
there is any relief in sigth

willy
You must have had a really low paying job when you worked. I get at least 3 times that amount and in reality, with the farm and rental income, it's way too much but then I do spend it and not on WW bargain burgers either. Not giving any back either. I was forced to pay into it and I want it. No vegan here, strictly a carnivore as in steak, chops and other prime cuts.
 
   / New Tractor Sales Are Declining #1,653  
You must have had a really low paying job when you worked. I get at least 3 times that amount and in reality, with the farm and rental income, it's way too much but then I do spend it and not on WW bargain burgers either. Not giving any back either. I was forced to pay into it and I want it. No vegan here, strictly a carnivore as in steak, chops and other prime cuts.

I tend to think you missed his/her point. Not everyone is making as much relative income as they did in the past. Many jobs that were marginally good in the past are no longer so. Food inflation is biting a lot of working families really hard. Seniors on Social Security only in reality generally live below the poverty level which is what Social Security was supposed to be, support for the poorest seniors so they literally didn't starve to death.

Today, Social Security is viewed as a "right" and as a "retirement plan".

I will further suggest seniors on Social Security have an inflation rate that doesn't follow government measures very well because it assumes spending on only a subset of most expenses and doesn't factor in the lack of spending on things not included because of poverty. I have personally seen seniors that did not use Air Condition in Summer or Heat in Winter because they could not afford food, housing, medicine, and electricity at the same time. How do CPI and other inflation measures account for NOT spending on things because of poverty?

And yes, I used POVERTY intentionally regarding seniors because the ones who don't have great pensions or accumulated wealth and depend on Social Security as their only retirement income are every bit as poor as the common measures people use to define "poor" for almost any demographic group you want to call out or can identify.

My pension payout is nowhere close to accounting for inflation on things like healthcare, housing, and, food in my case which is driving my choice to buy a tractor to add to my "toys" to make income on side jobs in retirement. This isn't an option for many which is why you see stories like the 80 year old janitor that returned to the high school so he could afford to "keep the lights on"! I'm glad the students got him a good "GO FUND ME" but, I don't consider that to be part of my retirement plan. And no, I'm not really worried about personal poverty because I have a good self-directed 401K and some real property income. What I don't know is if that level of income will provide a comfortable retirement which to me does not include a >$100K car, motorhome, vacation home, etc. I'm looking for a good solid middle class retirement that allows me to travel some, eat Sunday breakfast at the local Cafe with friends, and do similar things. If I can backpack in Europe or Asia, that is icing on the cake! If things really go bad, I can still eat fish out of my ponds and fish tanks (Tilapia), use my 7' tiller on my 40-acre homestead for a garden, etc.
 
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   / New Tractor Sales Are Declining #1,654  
I purchased my tractor in June 2021 with a loan
for 6 years and next month I hope to pay it off.
I will be saving over $1500 by doing this. I
Purchased the tractor, tiller, brush hog and land
plane, quick hitch and thumb for the backhoe.
SS only paid $250 many many years ago for a
burial and with all the inflation that's happened
in over 20 years SS has raised it to $255! A whole
$5 increase. I feel sorry for people that only have
SS to live on. I don't understand how people can
live on $500 to $800 a month. They almost have
to be complete vegan's unless you get Wally Worlds
box of 32 burgers for approx $25. I was purchasing
distilled water for $1.18 now its $2.24 don't look like
there is any relief in sigth

willy
Someone had to have retired a few decades ago to get only $500-800/ month for SS. I just checked my personal SS projections online. My expected monthly SS payment (minus deductions) is approximately $2500/month. Of course that won’t be my only retirement income, but it’s far above $500-800.
 
   / New Tractor Sales Are Declining #1,655  
Someone had to have retired a few decades ago to get only $500-800/ month for SS. I just checked my personal SS projections online. My expected monthly SS payment (minus deductions) is approximately $2500/month. Of course that won’t be my only retirement income, but it’s far above $500-800.

Some of this depends on your earnings during your work life. However, my biggest concern is the devaluation due to inflation and a slower rate of increase for SS benefits yielding less spending power at retirement.

$2500 today and $2500 ten years from now will not have anywhere near the same buying power at the grocery store, pharmacy, gas pump, or with the electric bill.
 
   / New Tractor Sales Are Declining #1,656  
What you get paid from SS is irrelevant. Actually, what your personal retirement fund pays you is irrelevant.
 
   / New Tractor Sales Are Declining #1,657  
Hopefully, my B2601, L4600, and the new tractor will fill in for SS and the Pension losses due to inflation differences.
 
   / New Tractor Sales Are Declining #1,658  
Some of this depends on your earnings during your work life. However, my biggest concern is the devaluation due to inflation and a slower rate of increase for SS benefits yielding less spending power at retirement.

$2500 today and $2500 ten years from now will not have anywhere near the same buying power at the grocery store, pharmacy, gas pump, or with the electric bill.
True. That’s why it’s only one of three income streams I’m planning on.
 
   / New Tractor Sales Are Declining #1,660  
What you get paid from SS is irrelevant. Actually, what your personal retirement fund pays you is irrelevant.

So what do you call relevant?

Curious about this as well. When I look at the huge amount of money I have paid into Social Security and the promises made, I think I am OWED something meaningful assuming I'm not a Congressional fatcat with guaranteed healthcare no other American has access to and all the GOLDEN PARACHUTES from the people and businesses they enriched with the legislation their PAC and contributions bought.

While I enjoy doing farm-related activities, that shouldn't be required because my retirement monies from Social Security have been squandered and inflation has taken away the value of my pension.

What happens if I am not healthy enough to cut and bale hay? Or tend to my fish, bees, and garden at some point in my old age?
 
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