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Good for you. As much of a pain the last few years have been with lack of employees and even potential wmpliyees…. with a few hard decisions and refocusing I’m making more net last few years than I ever have so that’s been very good. But to each their own.
 

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Now this might sound crazy, because I said I sold equipment not too long ago, but now I’m looking to get another Scag V-Ride, LOL 😆 We bought a property with 40 acres and cut probably 1.75 of it. The cows take care of the rest, but push mowing with a 21 inch mower for that 1.75 is getting old.
 

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Terrible time to start a business especially if you have to go in debt to do so. I am seeing lots of guys popping up and lowballing. Just a matter of time when gas prices, drought (no rain here), and payments *past due will turn them upside down and kick them out.

I've been preparing for a recession for the past 5 years. I own multiple rental properties with iron clad rental agreements, and I am 100% debt free. I could retire right now and be just fine. I just won't be able to buy 1 new investment property every year like I have been doing. If another housing crash happens, I'm going to dig deep and buy up everything!
 

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I guess no one wants to borrow money hence it may be a good thing, not layoffs but lack of borrowing although I realize many will disagree with me.
I have no evidence, but I would bet there’s a connection to easy access to credit and financing and the wage stagnation over the years. Auto loans have gotten insane.
 

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I guess no one wants to borrow money hence it may be a good thing, not layoffs but lack of borrowing although I realize many will disagree with me.
I have no credit or loans i do everything by saving my money and paying cash.
 

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I have no evidence, but I would bet there’s a connection to easy access to credit and financing and the wage stagnation over the years. Auto loans have gotten insane.
Although I'm not concerned about loans, I am somewhat dismayed with the surge in current auto prices, fueled by the pandemic and chip shortage. If one is not desperate, it may make sense to wait purchasing a new loan/lease/outright purchase vehicle until at least next year.
 

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I have no credit or loans i do everything by saving my money and paying cash.
Thats a good thing and we are the lucky ones. We are very much the same, zero loans and debt except maintaining a very small mortgage primarily for tax purposes. Our credit scores are naturally extremely high despite pretty useless since we are not borrowing. Sadly this does not apply to the majority out there and the pain they feel.
 

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Thats a good thing and we are the lucky ones. We are very much the same, zero loans and debt except maintaining a very small mortgage primarily for tax purposes. Our credit scores are naturally extremely high despite pretty useless since we are not borrowing. Sadly this does not apply to the majority out there and the pain they feel.
Debt and credit scores have become a way of life for most of the population. We have also been debt free except for the house and that's not for tax purposes, but because we just upgraded and haven't gotten rid of that particular debt yet. People don't realize that their income is the most valuable tool they have, and servicing debt is not a good use of it. It took us a long time to learn that concept, but after we did it sure feels great to have total control of our money.
 

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Thats a good thing and we are the lucky ones. We are very much the same, zero loans and debt except maintaining a very small mortgage primarily for tax purposes. Our credit scores are naturally extremely high despite pretty useless since we are not borrowing. Sadly this does not apply to the majority out there and the pain they feel.
Paid cash for my house and paid it off with in 4 years so no mortgage either.
 

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I've always used debt when it is in my favor. Most businesses do. But to each their own. I'd rather have a $600 monthly note (for example) for lets say 7 years, rather than have to deplete some $35k of my cash reserves at one single time. Which one makes more sense? But that's my opinion. I'd rather have my $35k sitting in the bank or coffee cans, take advantage of the tax breaks I get for the loans so they really costs me next to nothing, and keep all my working capital. But that's just my financial side of my brain talking.
 

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I have no credit or loans i do everything by saving my money and paying cash.
A lot of the millionaires advise that keeping credit debt is fine as long as it’s generating profit. Some even use credit cards to make investments. As long as the return on the investment is higher than the interest. Especially if you have limited cash flow it’s better to use your extra $ to invest…rather then to pay off credit cards .
 

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I've always used debt when it is in my favor. Most businesses do. But to each their own. I'd rather have a $600 monthly note (for example) for lets say 7 years, rather than have to deplete some $35k of my cash reserves at one single time. Which one makes more sense? But that's my opinion. I'd rather have my $35k sitting in the bank or coffee cans, take advantage of the tax breaks I get for the loans so they really costs me next to nothing, and keep all my working capital. But that's just my financial side of my brain talking.
You have to weigh tax credit vs total interest paid in. On a 35k loan you're losing $8,000 just for the privilege to use that money for 6 years. My tax guy isn't getting anywhere close to that back.

This also doesn't account for your inflation which your cash sitting in a coffee can is losing. Make sure to invest in a ROTH IRA. I can send you a link to M1 that gives you $30 if you sign up if you're interested.
 
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