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Iowa | If you view machinery as a necessary evil (all it does is cost $$), you will go much further financially. Of course you have to have adequate machinery to get the job done, but if a tractor craps out you can have a different one tomorrow--so no sense having too much. The statement, " I've go to have more than enough in case more land comes along" is foolish for anyone with a tight budget and desiring more profit--I think the machinery dealers must have started that falsehood. If you're well-established, have cash and adequate profits/income--sure, why not, I guess.....
Livestock can make money. More livestock can make more money. A planter that's adequate makes money. More planter just costs, it doesn't make a dime. So if we assume limited funds and a desire for more income, more than adequate machinery adds NOTHING to your bottom line, it TAKES AWAY from it. More livestock has a chance for more profit.
More livestock in a heartbeat. But before that, a desk and calculator--which is the best "investment" of all.
PS I do not agree with Markright's "float the JD paper" at all--actually I'm vehemently against it--it's still a liability, and the piper still has to be paid. | |
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