Welcome! Please use the navigational links on your left to explore our website.

Company Logo Shop Now
   Allis Chalmers Case Farmall IH Ford 8N,9N,2N Ford
   Ferguson John Deere Massey Ferguson Minn. Moline Oliver
Classified Ads
Photo Ads
Tractor Parts

Discussion Forums
Project Journals
Tractor Town
Your Stories
Show & Pull Guide
Events Calendar
Hauling Schedule

Tractor Photos
Implement Photos
Vintage Photos
Help Identify
Parts & Pieces
Stuck & Troubled
Vintage Ads
Community Album
Photo Ad Archives

Research & Info
Tractor Registry
Tip of the Day
Safety Cartoons
Tractor Values
Serial Numbers
Tune-Up Guide
Paint Codes
List Prices
Production Nbrs
Tune-Up Specs
Torque Values
3-Point Specs

Tractor Games
Just For Kids
Virtual Show
Museum Guide
Memorial Page
Feedback Form

Yesterday's Tractors Facebook Page

Related Sites
Tractor Shed
Ford 8N/9N Club
Today's Tractors
Garden Tractors
Kountry Life
Tractor Talk Discussion Forum

Re: How much cash in the bank ???

[Show Entire Topic]  

Welcome Guest, Log in or Register
Author  [Modern View]
Dave H (MI)

01-03-2018 07:46:21

Report to Moderator

Six months is not enough. Not even close. Most everything in our lives is cyclical. So there are always bad times ahead. Very few people in the world today have true security. One major medical, a lawsuit, disability...you better have more than six months. Every few years it seems we have a big downturn somewhere and people start trouping thru my office with tales of despair. Back in 2008 people were losing their jobs and their businesses at a rate I never thought I would see. Homes were being lost. I carried a lot of old friends on my books for years. Mostly because they did not follow advice. That advice was to only buy what you had cash for. Borrow money to buy your home, never borrow against your home for anything else. 15 year mortgage as soon as you can swing it, it is not that much more per month than a 30 and the term savings are crazy high. If you are self employed, have more than one source of income. If you work a job, have a back door in case you lose it. And don't delude yourself that the money in the bank belongs to you if you are carrying around a big credit card debt. The answer to your question if you are sitting across the desk from me? There is no such thing as too much money in the bank or brokerage account AND too little debt.

Dave H (MI CPA)...first free advice of the season! :)

[Log in to Reply]   [No Email]
[Show Entire Topic]     [Options]  [Printer Friendly]  [Posting Help]  [Return to Forum]   [Log in to Reply]

Hop to:

Fast Shipping!  Most of our stocked parts ship within 24 hours (M-Th). Expedited shipping available, just call! Most prices for parts and manuals are below our competitors. Compare our super low shipping rates! We have the parts you need to repair your tractor. We are a company you can trust and have generous return policies. Shop Online Today or call our friendly sales staff toll free (800) 853-2651. [ About Us ]

Home  |  Forums

Copyright © 1997-2018 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy

TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters

Website Accessibility Policy