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Strathcona, mn | Thank you, this is real life experience. This is the reason you are seeing more retirement auctions than I've seen since I was a kid in the 80's. For those that are close to retirement they have the choice to preserve wealth or risk. IMO these guys aren't necessarily the lowest cost producers as life has been good and they haven't had to worry about nickels and dimes. I hope I can get to that point in my career, sigh. Personally I've tried to keep enough working capital on hand to pay current liabilities. I've tried to aquire assets that produce income but yet retain equity and do not depreciate faster than their payments. I've considered them my "bank account" that pays back better interest. This has also allowed me to expand my operation as I grow. If I holed up every dollar I've ever made and never invested in myself I wouldn't have had the opportunity to get where I'm at. Sweat equity goes a long ways. | |
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Pknoeber and other bankers- working capital from down below
