To finance or not to finance ...

[Jchonline]

I agree... My dad retired at 62 and lived with mold spores (invasive aspergillosis) in his lungs from haying all his life and then contracted leukemia which left him with a immune system that couldn't fight the spores and he died.. The sooner you can do something you want to do the better..

I do as well. My father is 70, has a 100 acres of hay meadow. He still isnt retired from his day job by choice, not necessity. He has a bad back, and just doesn’t have the motivation for farm work like he used to. His dream was always to work that land again like he did in his youth. He never made it. I have always vowed to get started with my retirement planning MUCH sooner in life than he did.

 

[MiserableOldFart]

It痴 foolish, in my opinion, to worry about the potential residual value of anything to benefit your heirs.

Very likely your grandchildren will have no interest in an old tractor.

Auctions are common and yield cash.. Still, I could be around for at the long end of things another two decades, and maybe would want to sell it. I have no grandchildren, but I take care of my equipment. My 35 year old +/- Echo CS500 VL is still in perfect working order, with only a chain brake added over the years.

 

[fried1765]

You are coming from a direction that does not necessarily help you. You are looking at this as an "economics" lesson. Seems you're struggling attempting to justify a purchase. Answer this very basic question and everything else will be more clear cut: What do you need more of at this point in your life?

"what do you need more of at this point in your life?"
That's an easy answer for me...at age 77....but it ain't gonna happen!

 

[Rock Crawler]

At age 77 what you need more of is time. Sadly, at age 77 time is the only thing that no one, rich or poor, has.

Money is worthless the closer you get to the end of this game. Things mean nothing. Only relationships and time have any real value. So knowing what you should know about human lifespans....

Buy the tractor if it's something that you want and if doing so does not take away from you're quality of life, relationships or time.

 

[Shaneard]

At age 77 what you need more of is time. Sadly, at age 77 time is the only thing that no one, rich or poor, has.

Money is worthless the closer you get to the end of this game. Things mean nothing. Only relationships and time have any real value. So knowing what you should know about human lifespans....

Buy the tractor if it's something that you want and if doing so does not take away from you're quality of life, relationships or time.

I wish my inlaws had this mentality. Our kids want their time, they could care less about what they have but they won't give them the one thing they want and that is their time.

 

[bigcut]

At age 77 what you need more of is time. Sadly, at age 77 time is the only thing that no one, rich or poor, has.

Money is worthless the closer you get to the end of this game. Things mean nothing. Only relationships and time have any real value. So knowing what you should know about human lifespans....

Buy the tractor if it's something that you want and if doing so does not take away from you're quality of life, relationships or time.

Rock,
I couldn't agree with you more.....or, maybe those of us who are from western PA just think alike !!

 

[bigcut]

I wish my inlaws had this mentality. Our kids want their time, they could care less about what they have but they won't give them the one thing they want and that is their time.

Shaneard,
I'll be 69 this month...Before I retired, I spent alot of time traveling for work and when I was home I was focused on my job most of the time. Since retirement, I've tried to re-focus my time and energy more towards my wife, our children and grandchildren. Sometimes it takes awhile for us to wake up and appreciate those that we have.

Too bad about your in-laws. Mine, who are deceased now, were like your in-laws.

You can't take it with you and all you can leave are memories for others, both good and bad.
John

 

[3Ts]

Money is worthless the closer you get to the end of this game. Things mean nothing. Only relationships and time have any real value. So knowing what you should know about human lifespans....

Buy the tractor if it's something that you want and if doing so does not take away from you're quality of life, relationships or time.

+1
I look at tools now as a method for me to be able to stay in our home instead of living in an assisted living place. If I had to do things by hand now that I did when I was younger, I would have to live someplace else. I'm like Bigcut - now wish I'd been able to spend more time with family.

 

[Shaneard]

Shaneard,
I'll be 69 this month...Before I retired, I spent alot of time traveling for work and when I was home I was focused on my job most of the time. Since retirement, I've tried to re-focus my time and energy more towards my wife, our children and grandchildren. Sometimes it takes awhile for us to wake up and appreciate those that we have.

Too bad about your in-laws. Mine, who are deceased now, were like your in-laws.

You can't take it with you and all you can leave are memories for others, both good and bad.
John

That's right, people will remember you for what you give away not what you have. To me I would rather family give us and our kids time more than anything else.

 

[chryon]

Tractor costs go up year after year.... add in Trump's tariffs on steal and the potential for cost increase is very high.

With 0% interest, you lock in the cost at today's price..... and you get to start enjoying the tractor now.