With great regret, The tractor must be sold.

[kevinwak]

BFJ. Congrats on selling the tractor

 

[kenmac]

Why would I take money out of the market and not get tractor loan? Because the growth on my investments in the market are not guaranteed

No, it isn't guaranteed, But what in life is ?

 

[ultrarunner]

Why would I take money out of the market and not get tractor loan? Because the growth on my investments in the market are not guaranteed, but the money saved by not paying interest is a for sure thing. Plus the security of not having a payment.

I知 not at that point yet. Still have a truck payment and mortgage. But am currently doing the paperwork to cash in an Investment to pay off the truck. Then the $1000 truck payment will be split, $500 towards the mortgage and $500 towards saving to buy the cute little wife a new vehicle in a few years once we have enough cash to pay for it with.
I致e been listening to Dave Ramsey the last few months, and, while I am not completely sold out on living on beans and rice until I am debt free, I do want to reduce them as quickly as reasonable and not get any new ones.

Exactly... one of my then soon to retire nurse friends was about to buy her retirement home and was going to use money she had invested in the market which had done real well... this was 2007.

Her broker and her financial advisor both said she should get a loan for the new place and keep her money in the market working for her... she listened and what a disaster.

Money in the market went down 50%... now she had two mortgages on property that went down (Her retirement home didn't go down as much as her California home...)

Keeping her money working in the market meant she got to work 5 more years too!

 

[ultrarunner]

No, it isn't guaranteed, But what in life is ?

Death and Taxes???

 

[Sigarms]

I have a good friend who used to buy and sell used cars, trucks,&equipment which he would most often finance. It wasn't unusual to sell the same piece several times. He explained it by saying "There are a whole lot of people who just can't figure out how those agonizing,re-ocurring,monthly payments work". He was right and made a good living doing this as a sideline to his main work as a portable welder.

I would rather look at a cashier like they are an idiot because they didn't know how much change to give me than take advantage of the same cashiers stupidity. Since the guy in question was your good friend, added the fact that you're from California, perhaps enough said

 

[kenmac]

Exactly... one of my then soon to retire nurse friends was about to buy her retirement home and was going to use money she had invested in the market which had done real well... this was 2007.

Her broker and her financial advisor both said she should get a loan for the new place and keep her money in the market working for her... she listened and what a disaster.

Money in the market went down 50%... now she had two mortgages on property that went down (Her retirement home didn't go down as much as her California home...)

Keeping her money working in the market meant she got to work 5 more years too!

But, if she stayed in the market and continued to buy, she bought stocks at the sell off price, and should have done very well

 

[ultrarunner]

She had two mortgages...

I also have doubled down on stocks I owned... if it was a good deal at $20 a share why not at $10 or at $5?

Both instances I bought into companies that became worthless and delisted...

It was a lesson learned... market bad for me.

 

[Jim Nelson]

I would rather look at a cashier like they are an idiot because they didn't know how much change to give me than take advantage of the same cashiers stupidity. Since the guy in question was your good friend, added the fact that you're from California, perhaps enough said

I guess I'm just a little slow but I really don't understand your reply. To begin with I had just moved to Ca. from Co. where I was born and raised, and the fellow who I became friends with had just moved there from La.,both for the same reason, to make a living. I think the fact that he had enough discipline to use his money to buy and sell used equipment and finance it himself giving him more return for his money was a credit to him. The fact that so many people couldn't grasp the idea that if they don't make their payment the item gets repossessed,isn't rare and certainly not his fault or mine. Any credit agency that repossesses anything re-sells it, sometimes many times and none of them refund any of their downpayment or monthly payments made before repoing. That's the way business works. The thing I thought interesting was his description of"Agonizing,re-occuring,monthly payments"especially with his southern drawl.

 

[MossRoad]

Exactly... one of my then soon to retire nurse friends was about to buy her retirement home and was going to use money she had invested in the market which had done real well... this was 2007.

Her broker and her financial advisor both said she should get a loan for the new place and keep her money in the market working for her... she listened and what a disaster.

Money in the market went down 50%... now she had two mortgages on property that went down (Her retirement home didn't go down as much as her California home...)

Keeping her money working in the market meant she got to work 5 more years too!

Well..... in 2008 I lost around 30% of our net worth, but kept it in the market, and kept buying shares. By 2010 I was back even, and by 2012 I was doubled. So.... if I'd have had $500,000 in the market in 2008, I would have had $1,000,000 in 2012. It was a period of gain that I have never matched again.

 

[lilranch2001]

2008/2009 hurt but I regained all of it rather quickly since I had not panicked (this time) and was able to retire last year with a much larger estate than I ever dreamed I could